Acquisition the uniform relocation assistance and real property acquisition policies act of 1970
Download
1 / 11

ACQUISITION The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 - PowerPoint PPT Presentation


  • 247 Views
  • Uploaded on

ACQUISITION “The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”. 5 BASIC STEPS TO ACQUISITION. NOTIFY property owner of intention to acquire property NOTIFY property owner & tenants of their “URA Protections” DETERMINE “Just Compensation” (FMV)

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'ACQUISITION The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 ' - elaine


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Acquisition the uniform relocation assistance and real property acquisition policies act of 1970 l.jpg

ACQUISITION“The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970”


5 basic steps to acquisition l.jpg
5 BASIC STEPS TO ACQUISITION

  • NOTIFY property owner of intention to acquire property

  • NOTIFY property owner & tenants of their “URA Protections”

  • DETERMINE “Just Compensation” (FMV)

  • OFFER Just Compensation

  • COMPLETE sale as expeditiously as possible


Step 1 notify property owner of intention to acquire property l.jpg
Step 1. Notify Property Owner ofIntention to Acquire Property

  • This is a PRELIMINARY acquisition notice

  • “Notice of Interest” or “Notice of Intent to Acquire”

  • Optional: “Statement of Owners Determination”

  • Sample letter available upon request


Step 2 notify property owner tenants of their ura protections l.jpg
Step 2.Notify Property Owner & Tenants of their URA Protections

  • Essential: Send the HUD Brochure with the Notice of Intent! (see Step 1)

  • It’s called “When a Public Agency Acquires your Property”

  • It can be found at the following site: http://www.hud.gov/offices/cpd/library/relocation/publications/1041.pdf


Step 3 determine just compensation l.jpg
Step 3. Determine “Just Compensation”

  • Just Compensation = Fair Market Value (FMV)…

  • Requires Appraisal and a Review Appraisal

  • Unless…simple acquisition < $10,000.00

  • Qualifications for Appraisers found in URA regulation

  • Administrative Settlement Exceptions…


Step 3 just compensation continued l.jpg
Step 3, “Just Compensation” continued

For simple acquisitions < $10,000:

  • Appropriate valuation methodology must be used (tax records, for example)

  • Owner still has right to appraisal

    For Property Donations:

  • Owner must be informed of appraisal & just compensation rights

  • Waiver must be provided by owner in writing (use HUD Form)


Step 4 offer just compensation l.jpg
Step 4: Offer Just Compensation

  • “Notice of Just Compensation and Summary Statement”

  • This is a written purchase offer

  • Must summarize basis for the offer, including…

    • Property Description

    • ID of any bldgs, equipment & fixtures included

      (again - samples available)


Step 5 complete sale asap l.jpg
Step 5: Complete Sale ASAP

  • Consider community meeting if large # of easements or ROW’s are needed

  • Consider “Face-to-Face”

  • Agency must consider owner’s viewpoints & may update appraisal as a result

  • All property transfer costs must be paid by agency

  • Deed should be filed at courthouse


We will monitor your file for l.jpg
We will monitor your file for…

  • List of Acquired Properties

  • Evidence that all Notices were Sent

  • Copies of Any Waivers

  • Copy of Appraisal & Review Appraisal

  • Property Description

  • Closing or Settlement Statement

  • Evidence of Payment

  • Evidence of Property Transfer & Copy of Deed


Web resources l.jpg
Web Resources

  • http://www.hud.gov/offices/cpd/library/relocation/index.cfm

  • http://www.fhwa.dot.gov/realestate/ua/index.htm

  • http://www.hud.gov/offices/cpd/library/relocation/publications/1041.pdf (“When a Public Agency Acquires Your Property” Brochure)


Slide11 l.jpg

Rick Huber

Email: [email protected]

Voice: (404) 679-3174

Fax: (404) 679-0565

Pam Truitt

Email: [email protected]

Voice: (404) 679-5240

Fax: (404) 679-0565


ad