FAA Regulations - Laserfiche WebLink

Home

AC 150/5100.10A 4/13/76 should be instructed to appraise the values of the project portion and the excess portion of the parcel separately. In those instances where the property owner will leave the owner with an uneconomic remnant, the sponsor will offer to acquire that remnant regardless of its present or potential estimated fair market value or the fact that such parcel may have value to a potential purchaser. Full disclosure of all facts concerning acquisition of excess land should be made available_for review by the FAA Airports District or Regional Office. 33. INCIDENTAL LAND COSTS. Incidental land costs should be identified with the applicable land parcel. Incidental costs may include, but are not limited to the following, depending upon the terms of the purchase or other agreement between the buyer (sponsor) and seller. a. Miscellaneous category includes recording fees, transfer taxes, and similar expenses incidental to conveying such real property to the sponsor. b. Penalty costs for prepayment of any preexisting recorded mortgage entered into in good faith encumbering the real property. c. Prepaid Real Property Taxes. The pro rata portion of any prepaid real property taxes which are allocable to a period subsequent to the date of vesting title in the sponsor or the effective date of possession of the real property by the sponsor, whichever is earlier. d. Litigation Expenses. The costs discussed below are allowable after the effective date of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970. Page 18 (1) In any condemnation proceeding brought by the sponsor to acquire real property, it shall reimburse the owner of any right, title, or interest in the real property for his reason- able costs, disbursements, and expenses, including attorney, appraisal, and engineering fees, actually incurred because of the proceeding, if - (a) The final judgment is that the sponsor cannot acquire the real property by condemnation; or (b) The proceeding is abandoned by the sponsor. (2) In any inverse condemnation proceeding where the owner of any right, title, or interest in real property receives an award of compensation by judgment or settlement, the sponsor shall reimburse the plaintiff for his reasonable costs, dis- bursements, and expenses, including reasonable attorney, appraisal, and engineering fees, actually incurred because of Chap 3 Par 32 •