§ 40A-70. Return of condemned property. - North Carolina Statutes

Article5.

Return of CondemnedProperty.

§ 40A‑70.  Return ofcondemned property.

Whenever a public condemnorlisted in G.S. 40A‑3(b) or (c) acquires real property by condemnation andthereafter determines that the property is not needed for the purpose for whichit was condemned, and the public condemnor still owns the property, the publiccondemnor may reconvey the property to the original owner upon payment to thepublic condemnor of the full price paid to the owner when the property wastaken by eminent domain, the cost of any improvements, together with interestat the legal rate to the date when the decision was made to offer the return ofthe property. Unless the public condemnor acquired the entire lot, block, ortract of land belonging to the original owner, the original owner must own theremainder of the original lot, block, or tract of land from which the propertywas acquired to purchase the property pursuant to this section. The publiccondemnor shall specify a date by which the property must be reconveyed and thepayment made, which may not be less than 30 days after written notification tothe original owner that the public condemnor has decided to offer the return ofthe property. (1991 (Reg. Sess., 1992), c. 980, s. 1.)