§ 25.1-418. Reimbursement of owner for certain expenses
Any state agency acquiring real property in connection with any program or project, as soon as practicable after the first to occur of the date of payment of the purchase price or the date of deposit into court of funds to satisfy the award of compensation in a condemnation proceeding to acquire real property, shall reimburse the owner, to the extent the state agency deems fair and reasonable, for expenses he necessarily incurred for (i) recording fees, transfer taxes and similar expenses incidental to conveying such real property to the state agency; (ii) penalty costs for prepayment for any preexisting recorded mortgage entered into in good faith encumbering such real property; and (iii) the pro rata portion of real property taxes paid that are allocable to a period subsequent to the first to occur of the date of vesting title in the state agency or the effective date of possession of such real property by the state agency.
(Code 1950, §§ 33-75.06, 33.1-132.6; 1970, c. 40, § 25-249; 1972, c. 738; 2003, c. 940.)Sections: Previous 25.1-408 25.1-409 25.1-410 25.1-411 25.1-412 25.1-413 25.1-414 25.1-415 25.1-416 25.1-417 25.1-417.1 25.1-418 25.1-419 25.1-420 25.1-421 Next
Last modified: April 3, 2009