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Good to hear legal fees aren’t taking a large chunk of the 7.6 mil.
The law of abandoned railroad lines is flawed in this regard because these landowners’ predecessors were paid for the right of way by the railroad companies, and now the current owners are getting paid again at current property values. It’s not only double dipping but a rip off of federal taxpayers.
Granting of easement doesn’t guarantee initial payment. Most of our properties have easements that government doesn’t pay us for (drainage sewage, utility) but the entire lot encompassing those easements are figured In to our property sqft. Of which we own and pay taxes on…we just can’t build on those easements. If their land was taken by eminent domain and no longer an easement but property of the railroad…be a different story about initial paymwnt then double dipping.
Yep, easements are not the same as owned right of way. Congrats to these landowners and hopefully the other 175+!! Very interesting and positive that the feds will pay the legal fees.
I don’t understand how the federal government is involved in this — other than the fact they can print money.