N.J. Stat. Ann. § 40:60-10

Whenever any school society or religious organization of this state owns real or personal property and, owing to the establishment and existence of free schools and other public institutions, the society or organization finds it impossible or impracticable to continue in existence for the purposes for which it was created, desires to convey any such property to any municipality for the purpose of establishing free reading rooms, libraries or other institutions for the public benefit, such society or organization may convey the same to the municipality in trust for such purposes.