Section 8: Payments for Leasehold Interests (for State and LPA)
Anchor: #i1002698Payment Procedure When Leasehold and Fee Interests Are Negotiated
When leasehold and fee interests are negotiated in accordance with Chapter 5, Section 21 - Acquisition of Leasehold Interests of this volume, submit a separate MOA or, when applicable, a Purchase Agreement to the ROW Program Office for both the fee owner and the lessee. Payment to each party must be according to these documents. The payment request for parcel(s) must include all interests being acquired, and closing must be made simultaneously, except as noted below, in the total amount of the approved value for the parcel.
Payment requests for negotiated parcels involving both leasehold and fee interests must consist of the following items:
- Anchor: #WSMELNVQ
- TxC Payment Request for each interest Anchor: #OBISQQJC
- Owner Title Insurance Policy Commitment covering all interests being acquired Anchor: #QPINBEJD
- A deed conveying all interests being acquired by the state (quitclaim from leasehold interest) Anchor: #GAMRBFFL
- Memorandum of Agreement or separate Purchase Agreement for each interest Anchor: #NRYLNPHG
- Waiver and disclaimer
Note: The payment for a permitted commercial sign structure and the leasehold associated with it may be requested separately and prior to the payment request for the fee interest. Payment may be made directly to the owner of the sign and leasehold without closing or may be made simultaneously with the fee closing. Conversely, a request for payment for the fee interest and closing of the fee interest may not occur until after or simultaneously with the acquisition of the leasehold interest.