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Identifying a less costly acquisition strategy
We represented an electric utility that was trying to acquire a site for a substation. The utility was considering acquiring the property by condemnation, an expensive and time consuming effort.
Reviewing the property, we determined that there were outstanding tax certificates on the property that had matured and were held by the County. The County or any subsequent owner could apply for title to the property without redemption - so we arranged for the utility to acquire the certificates. Subsequently, they acquired title to the property for a small fraction of the cost of acquiring it through condemnation.
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©2007 Katz, Barron, Squitero, Faust, Friedberg, Grady, English & Allen, P.A.
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