Idaho Code § 40-2007

Current through the 2024 Regular Session
Section 40-2007 - COMPENSATION FOR MISCELLANEOUS EXPENSES

In addition to amounts authorized by this chapter, any agency as a part of the cost of any public program or project, shall reimburse the owner of real property acquired for a project for reasonable and necessary expenses incurred for:

(1) Recording fees, transfer taxes, and similar expenses incidental to conveying the property;
(2) Penalty costs for prepayment of any mortgage entered into in good faith encumbering the real property if the mortgage is on record or has been filed for record under applicable state law on the date of final approval by the agency of the location of the project; and
(3) The pro rata share or portion of ad valorem taxes paid which are allocable to a period subsequent to the date of vesting of title in the state or the effective date of possession of the real property by the agency, whichever is earlier.

Idaho Code § 40-2007

[40-2007, added 1985, ch. 253, sec. 2, p. 692; am. 2000, ch. 192, sec. 5, p. 476.]