You’ve been living in your home for several years now. This is the place where you have raised your children, and you’ve already decided that this is where you’ll retire. Then, one day, government authorities tell you they want to acquire the land on which your dream home sits. What would you do? Would you just give up your home — and all the memories you made in it— without a fight? Would you allow everyone in your family to get emotional with the news? Should this happen, you must be prepared – read on to know what you can do about it, legally.
Government Can Legally Acquire Your Land
In Queensland, the Coordinator-General of the Department of State Development can acquire your property with or without your agreement, provided that you are compensated. This policy falls under the Acquisition of Land Act 1967, and it is meant to boost the infrastructure development projects of the state government. In a way, this means you have to give up your land, or a part of it, for the benefit of others.
Property Acquisition Process
Once you receive the Notice of Intention to Resume (NIR) from the state government, you will know the details about the property acquisition. The NIR states how much of your property the government intends to acquire, as well as the compensation that comes with it.
Land Resumption Compensation Claims
When it comes to compensation, you might expect that you will get what you paid for your property — but there is no guarantee that will happen. Typically, the Coordinator-General uses an independent party to value the properties they want to acquire. If the property valuer finds that your land has decreased in worth, you could end up receiving compensation that is less than what you paid for it. But according to the property law in Queensland, you can always object the initial offer and file a claim for the compensation you deserve.
No one wants to lose their dream homes, even if the reason is for the greater good. If this happens to you, it is best to obtain professional advice right way to ensure you receive just compensation.