57-12-5 - Reimbursement of owner for expenses.
57-12-5. Reimbursement of owner for expenses.
Any agency acquiring real property for its use shall as soon as practicable after the date ofpayment of the purchase price or the date of deposit into court of funds to satisfy the award ofcompensation in a condemnation proceeding to acquire real property, whichever is the earlier,reimburse the owner for expenses the owner necessarily incurred for:
(1) recording fees, transfer taxes, and similar expenses incidental to conveying the realproperty to the agency;
(2) penalty costs for prepayment for any preexisting recorded mortgage entered into ingood faith encumbering the real property;
(3) the pro rata portion of real property taxes paid which are allocable to a periodsubsequent to the date of vesting title in the agency, or the effective date of possession of suchreal property by the agency, whichever is the earlier; and
(4) relocation costs.
Amended by Chapter 321, 1998 General Session