Tidelands come in all shapes and sizes. In areas along the cost and on sites located miles away from the water. If there was a river, bay, stream or any other body of water on the site in the past, a tidelands claim may exist.
The State of New Jersey claims ownership of these tidelands and holds them in trust for the people of the state. All tidelands are overseen by the Tidelands Resource Council, a board of twelve Governor-appointed volunteers, along with DEP staff at the Bureau of Tidelands Management.
The State of New Jersey currently will only sell grants of formerly flowed tidelands. Commonly, these are tidal streams or bays filled for development, or bulkhead areas where formerly flowed land exists behind the bulkhead.
Grants are made at current fair market value with some exceptions. A "good-faith discount" is offered to landowners who bought their property without knowing portions were claimed by the state. This occurs when the land was purchased before the maps were filed with the county clerk in 1982. The state also offers a "litigation risk" discount when the state's claim does not include aerial photographs showing remnants. A 15% pier head line reduction may be used for grants out shore of the bulkhead line where a pier head line exists. A condo association discount of 10% may be applied when the number of units is three (3) or more.
New Jersey Realty Advisory Group, LLC as completed appraisals assignments through the state and is familiar with all current regulations and has a good working relationship with the staff at DEP which oversees the appraisals for DEP.
Check out the story from ABC News to see how a state tidelands claim can effect you.