Government
authorities, such as Local Council or the NSW State Government, are able to
acquire privately owned land for public purposes.
Recent public
examples include compulsory acquisitions of both residential commercial
properties for the construction of WestConnex and now the Sydney Metro.
However, there
are other examples that may hit more closely to home when a Local Council
acquires a property for the purposes of performing its functions such as
upgrading the sewerage and stormwater drainage facilities in an area.
What’s the process?
Once an
authority has decided to acquire a property, the Land Acquisition (Just Terms Compensation) Act 1991 (NSW) provides the
mechanism for determining the amount of compensation to be paid to a
landholder.
This Act must be complied with.
Usually, an
agreement is sort to be reached between the Landholder and the Acquiring Authority
first.
Where this is
not possible, the acquiring authority has the power to compulsorily acquire the
land for a public purpose.
Where land is
to be compulsorily acquired, the Valuer General is responsible for independently
determining the amount of compensation payable by the Acquiring Authority.
To assist the
Valuer General, both parties generally obtain independent valuations by experts
to support their side. Depending on the type and location of the property, the
number of experts may range from one real estate valuation to numerous opinions
from experts such as accountants, engineers and environmental scientists.
Getting the right advice
Obtaining
advice from an experienced lawyer is essential for maximising ones claim.
An additional
benefit is that reasonable legal costs and expert costs are likely to be paid
by the Acquiring Authority.
You can then use
the services of seasoned professionals with the peace of mind that you will be obtaining
more than the initial offer made by the Acquiring Authority without
professionals taking a large cut.
If you have
been issued with a Proposed Acquisition Notice or want to know more about the
process, please contact Kim Glassborow, Principal Lawyer at G&B Lawyers on M:
0481 287 528 or kglassborow@gandblawyers.com.au
for professional and experienced advice.
G&B Lawyers
Office: Suite 1, Level 1, 229 Macquarie Street, Sydney, NSW 2000
Mail: GPO Box 1849, Sydney, NSW 2001
M: 0481 287 528 | 0401 175 934
W: www.gandblawyers.com.au
No comments:
Post a Comment