§ 777.32. Acquisition of tenant-owned improvements.
183 words·~1 min read·
/us/cfr/t39/s§ 777.32·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Acquisition of Improvements. When acquiring any interest in real property, the Postal Service must acquire at least an equal interest in all buildings, structures, or other improvements located upon the real property. This must include any improvement of a tenant owner who has the right or obligation to remove the improvement at the expiration of the lease term.
(b)Special Conditions. Payment for tenant-owned improvements will be made to the tenant only if he or she meets the following conditions:
(1)In consideration for the payment the tenant-owner assigns, transfers, and releases to the Postal Service all of the tenant-owner's rights, title, and interests in the improvement;
(2)The owner of the real property on which the improvement is located disclaims all interest in the improvement; and
(3)The payment does not result in the duplication of any compensation otherwise authorized by law.
(c)Preservation of Tenant's Rights. Nothing in this section shall be construed to deprive the tenant-owner of any rights to reject payment under this section and to obtain payment for such property interests in accordance with other applicable law.