When you receive a proposed acquisition notice that your property is intended to be acquired by an acquiring authority (being a government or statutory body), you must act quickly to make a detailed and complete Section 39 claim for compensation which should include all aspects of your claim.
What is Section 39 Form?
The Section 39 form ensures that any issues and concerns of the landowner are recorded and made known to the Valuer General who may ultimately determine the value of your property
The landowner may provide its own valuation reports, town planning or other documents to support your claim.
To determine compensation, Property NSW will engage a qualified, experienced and independent valuer to assess the determination of compensation to be paid to the landowner.
The valuer will prepare a written report detailing the information and considerations used by the valuer including the issues and matters raised by the landowner in its Section 39 claim for compensation form with other matters as raised by the landowner and the acquiring authority during the valuation process and will detail how the amount of compensation to be paid was determined by the valuer.
The valuer will determine the value using the matters detailed in Section 55 of the Act being:-
(a) the market value of the land on the date of its acquisition ie the value where a willing, but not anxious seller to a willing but not anxious buyer,
(b) any special value of the land to the person on the date of its acquisition ie where there is some quality or potential use which makes it more valuable to the landowner than a general purchaser in the market place,
(c) any loss attributable to the severance ie usually applies where there is a separation or division of a property eg a farm split by a road or vehicular access to a property is restricted,
(d) any loss attributable to disturbance ie legal costs, relocation costs,
(e) the disadvantage resulting from relocation ie non financial disadvantage in having to relocate home,
(f) any increase or decrease in the value of any other land of the person at the date of acquisition which adjoins or is severed from the acquired land by reason of the carrying out of, or the proposal to carry out, the public purpose for which the land was acquired.
In addition to the compensation payments to land owners, payments of compensation may be made to others having a legal or equitable interest in the land eg tenants and lessees, a beneficial owner of a right of way or easement or even a businesses operating on the land.
Please contact our team of lawyers at The Quinn Group on (02) 9223 9166 or submit and online enquiry form today.