THE GOVERNMENT WANTS MY PROPERTY? WHAT CAN I DO?
They have to compensate you for it.
It is estimated that nearly 400 properties will be acquired by the state government (the relevant authority) for the North-South Corridor project, for the River Torrens to Darlington, and the final section of the North-South Corridor.
If you have received a Notice of Intention to Acquire your property, or the property on which you operate your business, then the state government intends to acquire your property for the North-South Corridor, and it must comply with the Land Acquisition Act 1969, and pay you compensation for the acquisition of your land.
What compensation are you entitled to?
You can make claims for many types of loss and damage including the following:
The value of the property acquired;
The value of any plant and equipment acquired;
The damage and loss to any business which may be conducted on the acquired property;
Loss of past and future profits from the use of the acquired property and the business;
Loss of enjoyment of the property;
Cost of relocating;
Replacement costs;
Your legal costs ;and
Any other reasonably related cost or loss.
Are certain requirements by you to inform the relevant authority within 14 days of your receiving the Notice of Intention to Acquire, and you may object to the acquisition by providing the relevant authority with notice within 30 days from the date of the Notice of Intention to Acquire.
The relevant authority must then serve a Notice of Acquisition, which must be served upon you a minimum of 3 months after serving you with the Notice of Intention to Acquire.
In July 202 the Land Acquisition Act was amended to provide additional compensation. The key changes were:
The availability of an upfront payment of $10,000 to compensate home owner occupiers for any professional costs arising out of the acquisition.
The introduction of a “solatium” payment of up to 10 per cent of the market value of the land (to a maximum of $50,000) to compensate home owner occupiers for the emotional burden and other intangible disadvantages arising from acquisition.
New statutory obligations for landowners to respond to an offer of compensation within six months of the acquisition date. A party who fails to respond will be at risk of losing the right to compensation.
New laws regarding the acquisition of underground land.
If you have received a Notice of Intention to Acquire your property, or the property on which you operate your business, then you should contact Toni Monteleone to obtain legal advice. The reasonable costs of any legal advice obtained by you will be covered by the acquiring authority (State Government). This means that there is no cost to you for our services in obtaining a valuation of your property and in preparing and negotiating compensation for you. OUR COSTS ARE NOT RECOVERED FROM YOU.
We have an established reputation for advising and advocating for clients in respect to compulsory acquisition of their property. From the South Road extension to the Darlington Upgrade and the Baluch Bridge acquisition, we have provided, property owners, business and commercial tenants and residential tenants with advice and representation in this complex area of law.
We can help you understand your legal rights and ensure you receive the compensation that you are entitled to.
Contact Toni Monteleone on 8151 2315 or 0403 151 820 or toni@montlegal.com.au