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(a) If a proposed acquisition of a tract of real property under Section 203.052 would leave the owner of the property a remainder of the tract, the department may negotiate for and purchase the remainder or any part of a severed real property if the department and the owner agree on terms for the purchase. The department shall offer, except as provided by Subsection (f), to purchase a remainder if the department determines that:
(1) the remainder has little or no value or utility to the owner; or
(2) the entire tract could be acquired for substantially the same compensation as the partial tract.
(b) In acquiring real property under Section 203.051, if the acquisition severs an owner's real property, the department shall pay:
(1) the value of the property acquired; and
(2) the damages to the remainder of the owner's property caused by the severance, including damages caused by the inaccessibility of one tract from the other.
(b-1) If a portion of a tract or parcel of real property that, for the then current tax year was appraised for ad valorem tax purposes under a law enacted under Section 1-d or 1-d-1, Article VIII, Texas Constitution, and that is outside the municipal limits or the extraterritorial jurisdiction of a municipality with a population of 25,000 or more is condemned for state highway purposes, the special commissioners shall consider the loss of reasonable access to or from the remaining property in determining the damage to the property owner.
(c) Instead of a single fixed payment for real property purchased under Subsection (a) for a toll project, the department may agree to a payment to the owner in the form of:
(1) an intangible legal right to receive a percentage of identified revenue attributable to the applicable segment of the toll project; or
(2) a right to use, without charge, a segment or part of the toll project.
(d) A right to receive revenue under Subsection (c)(1) is subject to any pledge of the revenue under the terms of a trust agreement securing bonds issued for the applicable segment of the toll project.
(e) The department and its designated agents may enter the real property to conduct an appraisal, survey, or environmental investigation to determine whether the department will offer to acquire the real property.
(f) The department is not required under Subsection (a) to make an offer on a remainder if an appraisal or environmental investigation indicates the presence of hazardous materials or substances.
Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 203.0521. Acquisition of Remainder - last updated April 14, 2021 | https://codes.findlaw.com/tx/transportation-code/transp-sect-203-0521.html
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