infonews.co.nz
INDEX
LEGAL

Fortune Manning Explains Public Works Act – Compulsory Acquisition of Land

Wednesday 22 February 2017, 3:27PM

By Beckie Wright

282 views

Sam Khalesi of Fortune Manning explains the new Public Works Act Compulsory Acquisition of Land as follows. “A number of local and governmental agencies are authorised to acquire land under the Public Works Act both compulsorily and or by agreement for a wide range of purposes. 

“Initially, the agency requiring land will try and negotiate an agreement with the property owner.  Agreement commonly includes payment of the owner’s legal and valuation costs and payment of compensation for the land taken. Compensation is normally payable and calculated on the basis of the value of the land before, and the value of the land after acquisition.  Those figures are set by a registered valuer engaged to calculate the variance in price which when calculated is the compensatory amount.

“There are occasions however where the public work will enhance the value of the remaining land which is termed betterment, and this betterment has a value.  The betterment is calculated much the same way i.e. the value of the land before and after said acquisition. In such cases not only is land taken but a payment is required by the owner.

“The process is complex and often very sensitive due to the wide powers given to agencies to acquire land which is privately held. There are particularly strictly enforced time frames which require an experienced legal advisor to navigate making sure your rights are protected at all times.”

Fortune Manning has an experienced team that can assist clients in every aspect of the process and through many years of handling such matters they make sure that compensation payments are a true representation of the client’s loss, and they look forward to being of assistance. To find out more about Fortune Manning and their legal services please visit the website at http://www.fortunemanning.co.nz .