Reversionary Interest Conveyance Act

Eligible owners can gain full control over their parcels by paying at least fair market value and all transaction costs, while existing rights remain protected.

What the law does ​

• Requires the Department of the Interior to offer the federal interest only to the owner of record upon request.
• Sets a two-year deadline for the department to make the offer and requires conveyance after payment.
• Requires a sale price of at least the appraised fair market value under applicable federal and professional standards.
• Makes the buyer responsible for surveys, appraisals, administrative expenses, and other transaction costs.
• Directs proceeds to the Federal Land Disposal Account for use under the law governing that account.
• Preserves valid existing rights and the specified railroad right-of-way.
• Rejects claims based on adverse possession, prescription, or abandonment.

Who it affects ​

• Owners of record for the specified parcels in Sacramento, California.
• Holders of valid existing rights and the protected railroad right-of-way.
• The Department of the Interior, which must appraise, offer, and convey the federal interests.

Breakdown ​

Reversionary Interest Conveyance Act ​

This law requires the Interior Department, upon an eligible property owner's request, to offer to sell the United States' reversionary interest in specified parcels totaling about 8.43 acres in Sacramento, California. The owner must pay at least the appraised fair market value and all transaction costs, while existing rights and a specified railroad right-of-way remain protected.

Key takeaways

• Only the owner of record may request and purchase the federal reversionary interest for parcels that the owner owns at the time of the request.
• The Interior Department must offer the applicable interest within two years after receiving a request and convey it after payment of the appraised value.
• The sale price must be at least fair market value, determined through an appraisal meeting applicable federal and professional standards.
• The buyer must pay all related costs, including surveys, appraisals, and administrative expenses.
• Sale proceeds must be deposited in the Federal Land Disposal Account and used under the law governing that account.
• The law preserves valid existing rights and the specified railroad right-of-way, and it does not recognize claims based on adverse possession, prescription, or abandonment.