N.J. Stat. Ann. § 40:68-19

As used in this article the word "property" means and includes real and personal property, chattels, lands, structures, franchises, and interests in land, including lands under water and riparian rights and any and all things and rights usually included within said term, and includes not only fees simple absolute but also any and all lessor interests, such as easements, rights of way, uses, leases, leaseholds, licenses and all other incorporeal hereditaments and estates, interest or rights, legal or equitable, including terms of years, and liens thereon by way of mortgages or otherwise.