WSPC04091

• File Number: 8541
• Description: San Luis Valley Project
• State: CO
• Basin: Rio Grande
• Water Division: 3
• Date: 7/1/1982
• Title: San Luis Valley Project Closed Basin Division - 1982 - The San Luis Valley Project, Closed Basin Division, Facts and Concepts about the Project
• Water Supply Pro - Doc Type: Report/Study

..""OU1115

,\

.

.

",'

."'

3

11. What Happens if No. Purchase Centract is Signed?

In the event an acceptable purchase centract cannet be agreed upen between
the landewner and the right-of-way agent, the Bureau will request the
Department ef Justice to acquire title threugh the Federal Ceurt fer the
District ef Colerade. The purpese ef cendemnatien actiens is to. determine
the ameunt ef fair cempensatien er to. clear "cleudy" titles. In any event,
the landewner will be given full eppertunityte suppert his values in the
same manner as will the Gevernment.

12. Dees the Landewner Have to. Previde an Abstract ef Title?

It is net necessary to. purchase an abstract ef title er to bring ene up
to. date; hewever, if an abstract is available fer the Bureau's use,
it might help reduce costs and expedite payment to. the ewner. The
Government will acquire, at its expense, such evidenceef title as might
etherwise be deemed necessary by its legal ceunsel. In like manner, the
Gevernment will pay fees inve1ved in recerding purchase centracts and
deeds in the preper ceunty recerds.

The landewner might be required to. ebtain and recerd instruments such
as affidavits ef heirship necessary to. shew geed clear title.

13. Hew and When will Payment be Hade?

After the ewUer and the Bu';'a;"~ right-ef-way agent have agreed en a
purchase centract, the Govern~ent's atterneys will draft the warranty
deed instrument. After the title'has been reviewed and accepted by the
Gevernment, the ewner will sign the deed. After the deed is recerded in
the ceunty land recerds, ,a United States Treasury Draft will be drawn
in faver,of the seller in the full ameunt ef, the purchase price.

14.~ will Landewners be Required,te Pay_Inceme Tax on Meney Received frem
the Sale ef Land?

The respensibility fer administratien of the United States tax law rests
with the Internal Revenue Service (IRS) ef the Department ef the Treasury.
Present tax laws and regulations centain' special previsiens regarding
gains er pre fits frem the sale ef real preperty interests including
sales made to Gevernment agencies.

It is suggested that ewuers cenveying land er real preperty interests to.
the Gevernment fer preject purpeses centact lecal representatives ef
IRS for cemplete infermatien cencerning these tax matters.

IS. What About the Rights ef Owners en Lands Adjeining These Purchased by
the United States?

A fence will be censtructed areund pertiens ef the Government-ewned land
with access restricted to. established public reads. The use ef grazing
ef livesteck en Gevernment lands will net be permitted except in rare
instances when shert-term leases will not interfere with preject purpeses.