N.J. Stat. § 24:9-27
In the event that any article is held in a refrigerated warehouse for a period of longer than twenty-four calendar months without extension having been applied for and granted by the commissioner, and neither the operator of the refrigerated warehouse nor the commissioner can locate the owner of the said article, after ten days' notice by registered mail directed to the last known address of such owner, by the officials of the refrigerated warehouse and a copy of the said notice to the commissioner, then and in that event, the commissioner shall have the power to order the disposition and sale of the said article for the purpose of payment of charges for storage or other valid liens against same. If a sale as herein provided is ordered by the commissioner, the proceeds of such sale shall be applied, first, to the payment of any and all charges for storage and service in connection with said property, and second, for any other valid liens against the said property. Any balance then remaining from the proceeds of the sale shall be paid to the owner of the said property, if such owner can be located; and, in the event the owner cannot be located within one year of the date of notification, then any balance shall be paid into the treasury of the State of New Jersey.
In carrying out any order of the commissioner for sale or disposition of any property under the provisions of this section, the owners or operators of the refrigerated warehouse are hereby relieved from any liability to the original owner or any other person or persons for the custody of said property, and from any legal liability under any warehouse receipt issued and outstanding covering the said property.
N.J.S. § 24:9-27