§ 795 - Vesting of title - Vermont Statutes

§ 795. Vesting of title

(a) Upon the payment or deposit of the amounts awarded by the transportation board as compensation for a taking, with interest, if any, in accordance with its order, the authority shall be the owner of the property or right described in the findings of the board. However, when a petition is brought to have the amount of compensation reassessed or the time and manner of payment redetermined under section 792 of this chapter, the ownership shall be an equitable title only with right of possession until the judgment of the superior court is complied with.

(b) Nothing contained in this section shall be construed to prevent the authority from bringing any proceedings to remove a cloud on title or any other proceedings as it may, in its discretion, deem proper and necessary or from acquiring any property by negotiation or purchase.

(c) Where a person entitled to an award in the proceedings to condemn any real property for any of the purposes of this chapter remains in possession of the property after the time of the vesting of title in the condemnor, the reasonable value of his or her use and occupancy of the property subsequent to a time as fixed by agreement or by the court in the proceedings or by any court of competent jurisdiction shall be a lien against the award subject only to the liens of record at the time of vesting of title in the condemnor. (Added 1973, No. 14, § 2, eff. Feb. 23, 1973; amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 1999, No. 18, § 15, eff. May 13, 1999.)