Sec. 270-6.8. Grants in fee simple or conversion: appraisal

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Grants in fee simple of State-owned lands underwater shall be appraised based upon the value of the adjacent upland developed from the income, cost or market approach to value, as appropriate, reduced by the value of the riparian or littoral interest of the adjacent upland owner. Grants converting prior conditional conveyances to fee conveyances shall be appraised based upon the value of the remaining interest in the State.

                    
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