N.Y. Public Lands Law § 76: Surrender of grant

§ 76. Surrender of grant. A grantee or his successor in interest, may

at his option surrender to the state, without consideration or for a

compensation to be determined by the commissioner, the lands under water

theretofore granted to him or any part thereof, by filing with the

commissioner a certificate duly executed and acknowledged, declaring his

intention of such surrender and containing a description of the lands

surrendered, subject to the acceptance of such surrender by the

commissioner; and such surrender when so accepted shall be without

prejudice to an application for a new grant upon such terms and

conditions as the commissioner may determine.