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”

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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

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

5 basic steps to acquisition
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
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
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
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
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
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
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
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
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
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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