California Streets and Highways Code 118.1 – Except as provided in Article 8 (commencing with Section 54220) of …
Except as provided in Article 8 (commencing with Section 54220) of Chapter 5 of Part 1 of Division 2 of Title 5 of the Government Code and Section 118. 6 of this code, with respect to commercial real property acquired for the construction of a state highway, but no longer required for that purpose because the construction will not be undertaken, the department shall first offer the real property for sale at its current fair market value to the occupant thereof if the occupant is renting or leasing the real property from the department, has used and occupied the real property, and has made improvements of a value in excess of five thousand dollars ($5,000) on the real property during that time at his or her own expense consistent with the terms of the rental or lease agreement with the department. For the purpose of establishing fair market value, the department shall obtain at least two independent appraisals from qualified appraisers.
The failure of the department to first offer excess real property as required by this section shall not affect the validity of any conveyance of this excess real property to any person or entity unaware of the failure of the department to do so. However, this shall in no way be construed as releasing the department from its responsibility in offering that property to the occupants thereof first.
Terms Used In California Streets and Highways Code 118.1
- Construction: includes :
California Streets and Highways Code 29
- Department: means the Department of Transportation of this state. See California Streets and Highways Code 20
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- highway: includes bridges, culverts, curbs, drains, and all works incidental to highway construction, improvement, and maintenance. See California Streets and Highways Code 23
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: means any person, firm, partnership, association, corporation, organization, limited liability company, or business trust. See California Streets and Highways Code 19
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(Added by Stats. 1981, Ch. 851, Sec. 1.)