Compulsory Purchase Power in Real Estate
Added on 2023-04-21
10 Pages2210 Words136 Views
|
|
|
Running head: COMPULSORY PURCHASE POWER IN REAL ESTATE
Compulsory Purchase Power in Real Estate
Name of the university
Name of the student
Author note
Compulsory Purchase Power in Real Estate
Name of the university
Name of the student
Author note
1COMPULSORY PURCHASE POWER IN REAL ESTATE
Table of Contents
Introduction....................................................................................................................2
Appropriate strategies of CPO process..........................................................................2
Necessary steps to be taken............................................................................................4
Compensation process................................................................................................5
Conclusion......................................................................................................................6
Table of Contents
Introduction....................................................................................................................2
Appropriate strategies of CPO process..........................................................................2
Necessary steps to be taken............................................................................................4
Compensation process................................................................................................5
Conclusion......................................................................................................................6
2COMPULSORY PURCHASE POWER IN REAL ESTATE
Introduction
This report is going to focus on redevelopment and regeneration of a part vacant
mixed use estate in the centre of the town where both the residential and offices of small and
medium sized businesses are currently present. As stated in Grover (2014), in order to
accomplish business opportunities of the responsible acquiring authority, they need to
consider compulsory purchase powers. Applying this power legally, the organisation can
vacant the rest of the building, remodel it and take necessary steps for their compensation as
well. The following report will advise on the appropriate CPO process they must require and
which actions will be necessary to generate and implement solution in such a situation. The
compensation process includes investment of a lot of monetary resources in the course of
compulsory acquiring of that building. Therefore, a section of the report will estimate the
amount in terms of conducting compensation programme for the people currently living or
operating business at the project site.
Appropriate strategies of CPO process
As per the study of Hien (2015), compulsory acquisition establishes balance between
public need for land or occupied property and the security of public property rights. While
finding the equity, the responsible authority imposes a set of principles which is considered
as compulsory purchase process. These principles are implemented whether for public use,
public purpose or for public interest. The decision of compulsory purchase has been taken as
the building needs remodelling and it must be dome for public interest of safety. According to
the country’s legislative, it provides compensation for the people who are going to be directly
affected during this process. As discussed in Denyer-Green (2013), along with that they have
right of hearing the news on time, right to receive notice as well. Moreover, they have right to
oppose the decision and appeal in the court against it. Such case of opposition is treated with
Introduction
This report is going to focus on redevelopment and regeneration of a part vacant
mixed use estate in the centre of the town where both the residential and offices of small and
medium sized businesses are currently present. As stated in Grover (2014), in order to
accomplish business opportunities of the responsible acquiring authority, they need to
consider compulsory purchase powers. Applying this power legally, the organisation can
vacant the rest of the building, remodel it and take necessary steps for their compensation as
well. The following report will advise on the appropriate CPO process they must require and
which actions will be necessary to generate and implement solution in such a situation. The
compensation process includes investment of a lot of monetary resources in the course of
compulsory acquiring of that building. Therefore, a section of the report will estimate the
amount in terms of conducting compensation programme for the people currently living or
operating business at the project site.
Appropriate strategies of CPO process
As per the study of Hien (2015), compulsory acquisition establishes balance between
public need for land or occupied property and the security of public property rights. While
finding the equity, the responsible authority imposes a set of principles which is considered
as compulsory purchase process. These principles are implemented whether for public use,
public purpose or for public interest. The decision of compulsory purchase has been taken as
the building needs remodelling and it must be dome for public interest of safety. According to
the country’s legislative, it provides compensation for the people who are going to be directly
affected during this process. As discussed in Denyer-Green (2013), along with that they have
right of hearing the news on time, right to receive notice as well. Moreover, they have right to
oppose the decision and appeal in the court against it. Such case of opposition is treated with
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents