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Acquisition glossary

  
  
  
Answer
  
1
  
Yes

The process of acquiring property (real estate) or some interest therein. See the definition of real property.

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2
  
Yes

An independent and impartial estimate of the monetary value of a property interest. The appraisal is supported by an analysis of relevant market data.

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3
  
Yes

Any lawful activity conducted primarily for sale of services or products to the public for a profit.

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4
  
Yes

The legal process of acquiring private property for public use or purpose through the agency's power of eminent domain. Condemnation is usually not used until all attempts to reach a mutually satisfactory agreement through negotiations have failed. An agency then goes to court to acquire the needed property.

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5
  
Yes

​Any person or business who moves from the real property or moves personal property from the real property as a result of an acquisition of the real property

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6
  
Yes

​In general, an easement is the right of one person to use all or part of the property of another person for some specific purpose. Easements can be permanent or temporary (i.e. limited to a stated period of time). The term may be used to describe either the right itself​ or the document conferring the right. Examples include permanent easement for utilities, permanent easement for perpetual maintenance of drainage structures and temporary easement to allow reconstruction of a driveway during construction.

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7
  
Yes

​The right of government to take private property for public use. In the United States, just compensation must be paid for private property acquired for federally funded programs or projects.​

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8
  
Yes

​The sale price that a willing and informed​ seller and a willing and informed buyer agree upon for a particular property.

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9
  
Yes

​Any lawful activity conducted primarily for the production and sale of agricultural products in sufficient quantity to be contributing material support for the operator​

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10
  
Yes

​The price an agency must pay to acquire real property. An agency offic8ial must make the estimate of just compensation to be offered to you for the property needed. That amount may not be less than the amount established in the approved appraisal report as the fair market value for your property. If you and the agency cannot agree on the amount of just compensation to be paid for the property needed, and it becomes​​ necessary for the agency to use the condemnation process, the amount determined by the court will be the just compensation for your property​.​

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11
  
Yes

​A lien is a charge against a property in which the property is the security for payment of a debt. A mortgage is a lien. So are taxes. Customarily, liens must be paid in full when the property​ is sold.​​

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12
  
Yes

​The sale price that a willing and informed seller and a willing and informed buyer agree to for a particular property​​

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13
  
Yes

​The process used by an agency to reach an amicable agreement with a property owner for the acquisition of needed property. An offer is made for the purchase of property in person or by mail and the offer is discussed with the owner.​

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14
  
Yes

​In general, property that can be moved (e.g. furniture, lawn mower, etc.) is personal property. It is not permanently attached to, or a part of, the real property. Personal property is not usually purchased but instead is moved if it is in the area of the acquisition of real property.​​

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15
  
Yes

​The land and everything growing on it, attached to it or erected on it, but not including anything that may be severed from the land without injuring it​

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16
  
Yes

​An individual​​​l or family having temporary possession and lawful occupancy of the real property belonging to another with consent

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17
  
Yes

​The portion of property that remains​ after the City acquires the property needed for a program. That remained has been determined by the appraisal to have little or no value or utility to the owner. The City may offer to purchase a remnant, but the owner may refuse the offer and keep it.​​

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18
  
Yes

​An administrative process for estimating fair market value for relatively low-value, non-complex acquisitions. A waiver valuation is prepared in lieu of an appraisal.​

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