Washington Code 8.25.020 – Payment to defray costs of evaluating offer — Amount
Current as of: 2023 | Check for updates
|
Other versions
There shall be paid by the condemnor in respect of each parcel of real property acquired by eminent domain or by consent under threat thereof, in addition to the fair market value of the property, a sum equal to the various expenditures actually and reasonably incurred by those with an interest or interests in said parcel in the process of evaluating the condemnor’s offer to buy the same, but not to exceed a total of seven hundred fifty dollars. In the case of multiple interests in a parcel, the division of such sum shall be determined by the court or by agreement of the parties.
Terms Used In Washington Code 8.25.020
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.