N.J. Stat. § 54:4-3.3c: Acquisition defined

For the purposes of this act, the right of possession, subject to L.1970, c. 214, section 1, or vesting of title, whichever shall first occur, shall be deemed to be the acquisition with respect to such real property.

L.1971, c. 370, s. 3, eff. Dec. 30, 1971.