33.1-95.1 - Notice of exercise of eminent domain power; evidence of value. - Virginia Statutes

§ 33.1-95.1. Notice of exercise of eminent domain power; evidence of value.

Notwithstanding anything to the contrary contained in this chapter or inChapter 2 (§ 25.1-200 et seq.) of Title 25.1:

1. The Commonwealth Transportation Commissioner shall notify every owner of abuilding, structure, or other improvement, as defined in this section, if theCommissioner intends to exercise the power of eminent domain in a manner thatwould result in a taking of the building, structure, or other improvement;

2. The owner of any such building, structure, or other improvement maypresent evidence of the fair market value of such building, structure, orother improvement in the proceedings described in § 25.1-233, provided suchowner has filed a petition for intervention pursuant to § 25.1-218;

3. For purposes of this section, "owner" means any person owning an estateor interest in buildings, structures, or other improvements on real property,which estate or interest is recorded in the official records of the circuitcourt where the property is located, or improvements for which a permit hasbeen issued by the Commonwealth Transportation Commissioner pursuant to §33.1-360 and shall not include trustees or beneficiaries under a deed oftrust or any person owning only a security interest in the real property;

4. For purposes of this section, "fair market value" means the price thatthe real property would bring if it were offered for sale by one who wantedto sell, but was under no necessity, and was bought by one who wanted to buy,but was under no necessity;

5. If the owner of such building, structure, or improvement is different fromthe owner of the underlying land, then such owner shall not be allowed toproffer any evidence of value that the owner of the underlying land would notbe permitted to proffer if the building, structure, or improvement were ownedby the owner of the underlying land; and

6. The provisions of this section shall not apply to condemnation proceedingsin which the petition for condemnation was filed prior to July 1, 2000.

(2000, cc. 822, 843; 2003, c. 940.)