N.J. Stat. § 40:61-23
Any municipality owning park lands adjoining park lands of another municipality, may convey to such other municipality any or all of its lands so adjoining, for such consideration and upon such terms, conditions and covenants as shall be mutually agreed upon and expressed in the conveyance, or may lease such adjoining lands to the other municipality for such period and upon such terms, conditions, covenants and rental as may be mutually agreed upon. Any lands so conveyed or leased shall be used only for park and recreation purposes.
Any such two or more municipalities may convey one to the other, any undivided right, title or interest in such several park lands of each so that all of such adjoining park lands shall be owned jointly by the municipalities party to such conveyance.
N.J.S. § 40:61-23