N.Y. Highway Law 125 – Land may be sold or leased; disposition of proceeds
§ 125. Land may be sold or leased; disposition of proceeds. Any lands acquired by purchase or condemnation, for the purpose of obtaining gravel, stone or other materials, for the construction or maintenance of highways improved or constructed as provided in this article, or required for spoil banks, may be sold in accordance with the eminent domain procedure law or leased by the governing body of any county, when no longer needed for any of such purposes. The proceeds thereof shall be paid into and become a part of the county road fund. The governing body may, where it has acquired land by purchase or condemnation as a right-of-way for a county road, sell, convey, grant or lease to the owner or owners of property adjoining the same, so much thereof as may be unnecessary for such highway purposes, provided the strip of land retained for such highway purposes is not less than sixty feet in width, and provided such sale, conveyance, grant or lease will give said adjoining owner or owners of land a frontage immediately in front of their respective premises upon the new highway and right-of-way when completed. The governing body may make such sale, conveyance, grant or lease to such owner or owners of real property for the purpose of compensating such owner or owners for damages sustained by reason of the change of the location of such highway and in full settlement thereof.
Terms Used In N.Y. Highway Law 125
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
In the county of Wayne, however, if any such owner or owners of property adjoining lands heretofore acquired by said county from the R. & S. Liquidating Corporation and being formerly lands of the Rochester & Syracuse Trolley Company, for purposes of a right-of-way for a state highway, do not purchase such lands or any part thereof as may be unnecessary for highway purposes as provided by this section, within sixty days from the receipt by such owner or owners of the offer of the governing body of such county to sell such lands or any part thereof, then such board may sell and convey such lands or any part thereof, on the same terms and conditions as those of such offer or offers, to any other person or persons, and the proceeds thereof shall be used in the manner provided by this section.