The "Reversionary Interest Conveyance Act" allows the Department of Interior to sell the United States' right to reclaim approximately 8.43 acres of land in Sacramento, California, to the current owner at fair market value, with the proceeds going to the Federal Land Disposal Account.
Doris Matsui
Representative
CA-7
The "Reversionary Interest Conveyance Act" allows the Secretary of the Interior to sell the United States' interest in approximately 8.43 acres of land in Sacramento, California, to the current owner at fair market value. The buyer is responsible for all costs associated with the conveyance, and the proceeds will be deposited into the Federal Land Disposal Account. The law clarifies that it does not reduce existing right-of-way for the railroad or validate certain unconfirmed land claims.
Feds Greenlight Land Sale in Sacramento: 8.43 Acres to Change Hands at Market Value
The "Reversionary Interest Conveyance Act" allows the Secretary of the Interior to sell off the U.S. government's remaining interest in a specific 8.43-acre parcel of land in Sacramento, California. This isn't a land giveaway – it's about simplifying ownership for the current owner, who will have to pay fair market value and all the associated costs.
Straight to the Point
The core of this bill (SEC. 2) is a straightforward land deal. The current owner of record can request to buy out the federal government's "reversionary interest" – basically, a claim that the land would return to the government under certain conditions. To do this, they have to pay the appraised value of that interest, determined using standard federal appraisal guidelines (Uniform Appraisal Standards for Federal Land Acquisitions and the Uniform Standards of Professional Appraisal Practice). They also have to foot the bill for surveys, appraisals, and any administrative costs. The deal needs to be requested within two years. All the proceeds go into the Federal Land Disposal Account, which, according to the Federal Land Transaction Facilitation Act, is used for other land management activities.
Real-World Rollout
For the current owner, this means a chance to consolidate their ownership, removing any potential future complications from that lingering federal interest. Think of it like finally owning your house outright after paying off the mortgage – no more strings attached. This could make future development or sales easier. For example, If the current owner is a business, this simplifies their property rights, potentially making it easier to expand or secure financing. The Bureau of Land Management gets a bit of cash for its Federal Land Disposal Account, and one less complicated property to manage.
Potential Snags
While the bill seems straightforward, there are always potential hitches. Appraisals, for example, can be tricky. The bill mandates the use of standard federal appraisal practices, which is good, but there's always a chance of disputes over the final valuation. The owner could argue the government's interest is worth less than the appraisal suggests. Also, the bill sets a two-year window for the owner to request the conveyance. If they miss that deadline, the deal's off.
The Bigger Picture
This bill is a very localized piece of legislation. It doesn't change any major national policies. It does, however, clarify (SEC. 3) that the existing railroad right-of-way on the land remains unaffected – it stays at least 50 feet wide from the center of the track. The bill also makes clear it does not validate any unconfirmed claims to the land based on things like adverse possession or abandonment – unless those claims were already confirmed by the Southern Pacific Transportation Company before this bill became law.