§460w–3 — Title 16 Conservation | U.S. Code

Summary

When the Secretary buys land inside the lakeshore, owners of improved property at the time of purchase can, as soon as possible, keep the right to live there for noncommercial residential use. That does not apply to up to 80 acres the Secretary may set aside for an administrative site, visitor center, or related facilities. The owner must pick either a fixed term up to 25 years or a term that ends at the later of the owner’s or spouse’s death. The Secretary pays the owner the fair market value on the purchase date minus the value of the retained right. The Secretary can end the retained right for the whole property if it stops being used as a noncommercial home or for farming, and must then pay the holder the fair market value on the date of the offer of the unused portion of the right. Improved property = a detached noncommercial house begun before January 1, 1967 (or before January 1, 1985 for certain lands under section 460w(b)), plus enough surrounding land and accessory buildings the Secretary says are needed for living there.

Title 16, §460w–3

Conservation — Source: USLM XML via OLRC

(a)With the exception of not more than eighty acres of land to be designated within the lakeshore boundaries by the Secretary as an administrative site, visitor center, and related facilities, as soon as practicable, any owner or owners of improved property on the date of its acquisition by the Secretary may, as a condition of such acquisition, retain for themselves and their successors or assigns a right of use and occupancy of the improved property for noncommercial residential purposes for a definite term not to exceed 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 the later. The owner shall elect the term to be reserved. The Secretary shall pay to the owner the fair market value of the property on the date of such acquisition less the fair market value on such date of the right retained by the owner.

(b)A right of use and occupancy retained pursuant to this section may be terminated with respect to the entire property by the Secretary upon his determination that the property or any portion thereof has ceased to be used for noncommercial residential or for agricultural purposes, and upon tender to the holder of a right an amount equal to the fair market value, as of the date of the tender, of that portion of the right which remains unexpired on the date of termination.

(c)The term “improved property”, as used in this section, shall mean a detached, noncommercial residential dwelling, the construction of which was begun before January 1, 1967, or before January 1, 1985 for those lands referred to in section 460w(b) of this title (hereinafter referred to as “dwelling”), together with so much of the land on which the dwelling is situated, the said land being in the same ownership as the dwelling, as the Secretary shall designate to be reasonably necessary for the enjoyment of the dwelling for the sole purpose of noncommercial residential use, together with any structures accessory to the dwelling which are situated on the land so designated.

Editorial Notes

Amendments

1986—Subsec. (c). Pub. L. 99–497 inserted “, or before January 1, 1985 for those lands referred to in section 460w(b) of this title”.

§460w–3 Retention rights of owners of improved property

Summary

Title 16, §460w–3

Notes & Related Subsidiaries

Editorial Notes

Amendments

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