§ 429b-2. — Retention of right of use and occupation of improved property by owner.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC429b-2]
TITLE 16--CONSERVATION
CHAPTER 1--NATIONAL PARKS, MILITARY PARKS, MONUMENTS, AND SEASHORES
SUBCHAPTER LX--NATIONAL MILITARY PARKS
Sec. 429b-2. Retention of right of use and occupation of
improved property by owner
(a) Time limits; compensation
Subsequent to October 13, 1980, the owner of improved property on
the date of its acquisition by the Secretary may, as a condition of such
acquisition, retain for himself and his heirs and assigns a right of use
and occupancy of the 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 death of the spouse of the
owner, whichever is later. The owner shall elect the term to be
reserved. Unless this property is wholly or partially donated to the
United States, the Secretary shall pay the owner an amount equal to the
fair market value of the property on the date of its acquisition less
the value on such date of the right retained by the owner. If such
property is donated (in whole or in part) to the United States, the
Secretary may pay to the owner such lesser amount as the owner may agree
to. A right retained pursuant to this section shall be subject to
termination by the Secretary upon his determination that it is being
exercised in a manner inconsistent with the purposes of sections 429b to
429b-5 of this title, and it shall terminate by operation of law upon
the Secretary's notifying the holder of the right of such determination
and tendering to him an amount equal to the fair market value of that
portion of the right which remains unexpired.
(b) Displaced person; waiver of benefits
No property owner who elects to retain a right of use and occupancy
under this section shall be considered a displaced person as defined in
section 4601(6) of title 42. Such owners shall be considered to have
waived any benefits which would otherwise accrue to them under sections
4623 to 4626 of title 42.
(Apr. 17, 1954, ch. 153, Sec. 3, as added Pub. L. 96-442, Sec. 2, Oct.
13, 1980, 94 Stat. 1886.)
Section Referred to in Other Sections
This section is referred to in sections 429b, 429b-1, 429b-3 to
429b-5 of this title.
