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Property Owner Buy Back Option Legislation

 
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Deanna



Joined: 25 Feb 2008
Posts: 1
PostPosted: Mon Feb 25, 2008 4:06 pm    Post subject: Property Owner Buy Back Option Legislation Reply with quote
The Washington State legislature is currently considering a bill which would allow owners in eminent domain actions the opportunity to take an option at the time their property is purchased to buy it back within 7 years if it is not used by the agency. They would have to reduce the FMV 30% in order tot ake the optionan d would buy it back at the FMV at the time of purchase.
Has there been similar legislation in other states? What have been the results?
Thanks for any assitance.
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