§ 698b. Right of use and occupancy of improved property on Big Thicket Preserve
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/usc/title-16/section-698bA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Election of right of use and occupancy; payment of fair market value; termination of right The owner of an improved property on the date of its acquisition by the Secretary may, as a condition of such acquisition, retain for himself and his heirs and assigns a right of use and occupancy of the improved property for noncommercial residential purposes for a definite term of not more than twenty-five years or, in lieu thereof, for a term ending at the death of the owner or the death of his spouse, whichever is later. The owner shall elect the term to be reserved. Unless this property is wholly or partially donated to the United States, the Secretary shall pay the owner the fair market value of the property on the date of acquisition less the fair market value, on that date, of the right retained by the owner. A right retained pursuant to this section shall be subject to termination by the Secretary upon his determination that it is being exercised in a manner inconsistent with the purposes of sections 698 to 698e of this title, and it shall terminate by operation of law upon the Secretary’s notifying the holder of the right of such determination and tendering to him an amount equal to the fair market value of that portion of the right which remains unexpired.
(b)“Improved property” defined As used in sections 698 to 698e of this title, the term “improved property” means a detached year-round one-family dwelling which serves as the owner’s permanent place of abode at the time of acquisition, and construction of which was begun before July 1, 1973, which is used for noncommercial residential purposes, together with not to exceed three acres of land on which the dwelling is situated and together with such additional lands or interests therein as the Secretary deems to be reasonably necessary for access thereto, such lands being in the same ownership as the dwelling, together with any structures accessory to the dwelling which are situated on such land.
(c)Waiver of right to relocation assistance by election of right of use and occupancy Whenever an owner of property elects to retain a right of use and occupancy as provided in this section, such owner shall be deemed to have waived any benefits or rights accruing under sections 4623, 4624, 4625, and 4626 of title 42, and for the purposes of such sections such owner shall not be considered a displaced person as defined in section 4601(6) of title 42.
(Pub. L. 93–439, § 3, Oct. 11, 1974, 88 Stat. 1256; Pub. L. 94–578, title III, § 322, Oct. 21, 1976, 90 Stat. 2742.)
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statutes-at-large
- Public Law 94–578To provide for Increases in appropriation ceilings and boundary changes In certain units of the National Park System, and for other purposes
- Public Law 93–435To place certain submerged lands within the jurisdiction of the governments of Guam, the Virgin Islands, and American Samoa, and for other purposes
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U.S. Code
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- Pub. L. 93–439, § 3
- 88 Stat. 1256
- Pub. L. 94–578, title III, § 322
- 90 Stat. 2742
- Pub. L. 94–578
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§ 698b
Right of use and occupancy of improved property on Big Thicket Preserve
Stat.×2
Pub. L.Pub. L. 93–439, § 3
Stat.88 Stat. 1256
Pub. L.Pub. L. 94–578, title III, § 322
Stat.90 Stat. 2742
Pub. L.Pub. L. 94–578
Cites 6Cited by 2 across 1 source