New Jersey § 40a:12a-86
Full text of New Jersey New Jersey Statutes § 40a:12a-86, with citation guidance and answers to common questions.
§ 40a:12a-86.
The land banking agreement between the municipality and a land bank entity may provide
that properties held by the land bank entity in trust on behalf of the municipality
pursuant to section 7 of P.L.2019, c. 159 ( C.40A:12A-80 ), or acquired by the land bank entity pursuant to section 6 of P.L.2019, c. 159 ( C.40A:12A-79 ), are held in trust by the entity on behalf of the municipality for a public purpose
and shall be exempt from property taxation until or unless leased or conveyed by the
entity on behalf of the municipality or used by the entity for a purpose that is not
eligible for exemption from taxation.
Frequently Asked Questions About New Jersey § 40a:12a-86
What does New Jersey Statutes § 40a:12a-86 cover?
Section 40a:12a-86 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 40a:12a-86?
A common citation format is "New Jersey Statutes § 40a:12a-86" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 40a:12a-86 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.