|
Frequently Asked Questions (FAQs) … Acquisitions
A government appraiser told me how much my property is worth. Can I get a second opinion from an independent source? |
An owner may obtain an independent appraisal report. When land is expropriated, the Province will pay those reasonable costs which are reasonably incurred, upon receipt of a copy of the appraisal report and a detailed invoice from the appraiser. The Province is under no obligation to cover any appraisal costs when land is acquired under The Land Acquisition Act. |
How do I know the true market value for my property? |
Real Estate Services Divsion will conduct an appraisal to determine fair market value. A Land Acquisition Officer will ensure this fair market value is made know to the owner and will form the basis of the compensation being offered for the land. |
I received a second opinion on the worth of my property above what is being offered. Is it possible to negotiate the price? And who would I speak with if I could negotiate a better offering? |
Should a second opinion of value recommend compensation that differs from that amount offered by the Province, the owner and the Land Acquisition Officer may exchange and review appraisal reports with the intent to determine a mutually agreed amount of compensation.
- If the negotiations are proceeding under The Land Acquisition Act and no common values can be found, negotiations may cease.
- If the negotiations are proceeding under The Expropriation Act and no agreement can be reached, the owner may make a claim for due compensation to the Land Value Appraisal Commission, within two (2) years of the expropriation date.
- If this claim for due compensation is not made within the two (2) year period, the acquiring authority is under no obligation to pay any amount other than that offered.
The Province shall pay reasonable appraisal, legal and other costs that are reasonably incurred by an owner for the purpose of determining the compensation payable under The Expropriation Act . |
If I need more time to find a place to move to, can I request an extension to when I must be off the property? |
When land is expropriated, there is typically some urgency that it be acquired in a timely manner and therefore it is unlikely the possession date will be deferred. However, the owner may apply for a revised possession date. If the land is being acquired under The Land Acquisition Act, the possession date is negotiable. |
What can I do if I don't want to sell my property? |
If the negotiations are taking place under the authority of The Land Acquisition Act, the owner can reject any offer he/she does not find satisfactory and retain ownership of the land in question. If the acquisition is occurring under the authority of The Expropriation Act, the acquisition will proceed without the consent of the owner. A Land Acquisition Officer will meet with the owner to explain the proceedings and will inform the owner of his/her rights and obligations under the applicable Act. |
|
|
|