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An acquiring authority refers to an entity or organisation empowered by law or regulation to obtain property or land for specific purposes.
An acquiring authority refers to an entity or organisation empowered by law or regulation to obtain property or land for specific purposes. This authority typically involves government bodies or agencies responsible for public projects. The acquiring authority has the legal right to acquire private properties for public use, ensuring fair compensation to property owners while advancing public interests.
In Australia, the process of compulsory acquisition, often referred to as land resumption generally follows a usual process:
In compulsory land acquisition scenarios, landowners are typically entitled to compensation, either based on an agreed-upon amount or determined by a court or tribunal.
This compensation covers the fair market value of the property and potential losses. Additionally, in some cases where landowners are required to relocate due to the acquisition, they might receive assistance with rehousing or relocation, providing support during this transition.
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