Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 41 - Public Contracts and Property Management |
Subtitle C - Federal Property Management Regulations System |
Chapter 102 - Federal Management Regulation |
SubChapter C - Real Property |
Part 102-73 - Real Estate Acquisition |
Subpart C - Acquisition by Purchase or Condemnation |
Just Compensation |
§ 102-73.275 - What specific information must be included in the summary statement for the owner that explains the basis for just compensation?
Latest version.
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§ 102-73.275 What specific information must be included in the summary statement for the owner that explains the basis for just compensation?
The summary statement must -
(a) Identify the real property and the estate or interest the Federal agency is acquiring;
(b) Identify the buildings, structures, and other improvements the Federal agency considers part of the real property for which just compensation is being offered;
(c) State that the Federal agency based the estimate of just compensation on the Government's estimate of the property's fair market value. If only part of a property or less than a full interest is being acquired, Federal agencies must explain how they determined the just compensation for it; and
(d) State that the Government's estimate of just compensation is at least as much as the property's approved appraisal value.