New laws have been made in New South Wales which attempt to make the process a bit fairer when a government body acquires or resumes private property. The changes are the result of a report into the system. One of the changes gives landowners the right to seek an independent review of some decisions made by the government body.
Also as part of the changes, potential compensation for the disruption and upset for home owners being forced to relocate will be increased by $50,000 dollars to $75,000, and home owners who stay in their house after it has been acquired will no longer have to pay rent for the first three months. Another category previously known as solatium, which was difficult to prove, has now been changed to a plain English description of 'disadvantage resulting from relocation'.
If your property is being acquired by a government body such as the RMS we can help you navigate your way through the system and help you get the best possible result.
Why is this happening?
In our September client newsletter we talked about a State Government review in 2012 into the process of compulsory acquisition in NSW. This review was completed in 2014, but the results had not been made public as of September 2016. At the time we noted that you might assume that the review does not say that the government is overpaying people, or that the government has otherwise been generous and helpful in their dealings with home owners.
Since the review has been made public the government has felt the need to make changes.
What should I do?
If your property is being compulsorily acquired, call us for your free appointment with Bruce Coode. He will be able to tell you whether he can help, what that process is and how much it will cost.
If Bruce can't get you a better offer on your property than what you have already obtained then he will not charge you.
If you would like some more information about Compulsory Acquisition, then click on this link to read some more of our articles.