§ 425m. — Retained rights.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC425m]
TITLE 16--CONSERVATION
CHAPTER 1--NATIONAL PARKS, MILITARY PARKS, MONUMENTS, AND SEASHORES
SUBCHAPTER LX--NATIONAL MILITARY PARKS
Sec. 425m. Retained rights
(a) Retention of use and occupancy
With the exception of property which the Secretary determines is
necessary for development or public use, the owner or owners of improved
property acquired pursuant to sections 425k to 425o of this title may
retain a right of use and occupancy of such improved property for
noncommercial residential purposes for a definite term of not more than
twenty-five years, or for a term ending at the death of the owner or the
owner's spouse. The owner shall elect the term to be reserved, except
that if the owner is a corporation, trust, partnership, or any entity
other than an individual, the term shall not exceed twenty-five years.
Ownership shall be determined as of June 1, 1989. Unless the property is
wholly or partially donated, the Secretary shall pay to the owner the
fair market value of the property on the date of such acquisition, less
the fair market value of the right retained by the owner.
(b) Terms and conditions
Any rights retained pursuant to this section shall be subject to
such terms and conditions as the Secretary may prescribe and may be
terminated by the Secretary upon his determination and after reasonable
notice to the owner thereof that such property is being used for any
purpose which is incompatible with the administration, protection, or
public use of the park. Such right shall terminate by operation of law
upon notification of the owner by the Secretary and tendering to the
owner an amount equal to the fair market value of that portion of the
right which remains unexpired.
(c) ``Improved property'' defined
As used in this section, the term ``improved property'' means a
year-round noncommercial single-family dwelling together with such land,
in the same ownership as the dwelling, as the Secretary determines is
reasonably necessary for the enjoyment of the dwelling for single-family
residential use.
(Pub. L. 101-214, Sec. 4, Dec. 11, 1989, 103 Stat. 1850.)
Section Referred to in Other Sections
This section is referred to in sections 425k, 425l, 425o of this
title.
