All real and personal property belonging to or held in trust for any Free Methodist church or society which now is or may hereafter come under the supervision of the "Trustees of the New York Conference of the Free Methodist Church", that has or shall become extinct, shall vest in and become the property of the "Trustees of the New York Conference of the Free Methodist Church", its successors and assigns. This section shall not affect the reversion or interest of any person in any such property.
N.J.S. § 16:6-1