§113-2 - Property acquired; reimbursement of owner.
[§113-2] Property acquired; reimbursement of owner. In acquiring real property for use in any project or program in which federal or federal-aid funds are used, the State shall as soon as practicable after the date of payment of the purchase price or the date of deposit into court of funds to satisfy a judgment in a condemnation proceeding to acquire real property, whichever is the earlier, reimburse the owner, to the extent the State deems fair and reasonable, for expenses the owner necessarily incurred for (1) recording fees, transfer taxes and similar expenses incidental to conveying such real property to the State; (2) penalty costs for prepayment of any preexisting recorded mortgage loan entered into in good faith and encumbering such real property; and (3) the pro rata portion of real property taxes paid which are allocable to a period subsequent to the date of vesting title in the State, or the effective date of possession of such real property by the State, whichever is the earlier. [L 1971, c 32, §2; gen ch 1985]