§ 133-12. Expenses incidental to transfer of property.
§133‑12. Expenses incidental to transfer of property.
(a) In addition toamounts otherwise authorized by this Article, the agency is authorized toreimburse or to pay on behalf of the owners of real property acquired for aprogram or project for reasonable and necessary expenses incurred for:
(1) Recording fees,transfer taxes, and similar expenses incidental to conveying such property;
(2) Penalty costs forprepayment of any preexisting mortgage recorded and entered into in good faithencumbering such real property; and
(3) The pro rata portionof real property taxes paid which are allocable to a period subsequent tovesting of title in the agency, or the effective date of possession of suchreal property by the agency, whichever is earlier.
(b) Local taxingauthorities shall accept prepayment of the agency's estimate of the amount ofany taxes not levied but constituting a lien against real estate acquired bythe agency, or the agency's estimate of its pro rata portion of such taxes, andsuch prepayment shall be applied to such taxes upon levy being made. (1971,c. 1107, s. 1.)