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


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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)

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

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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


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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


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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


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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…


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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)


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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)


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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


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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


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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)


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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


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