Code of Massachusetts Regulations
301 CMR - EXECUTIVE OFFICE OF ENERGY AND ENVIRONMENTAL AFFAIRS
Title 301 CMR 51.00 - Land acquisition
Section 51.06 - Determination of Terms of Acquisition

Universal Citation: 301 MA Code of Regs 301.51

Current through Register 1531, September 27, 2024

(1) Price. Each acquisition of real property or an interest therein for monetary consideration shall be at a price generally not higher than the fair value of such real property, which fair value shall be determined by the EEA Agency Head based on a review of the appraisal(s) of such real property. Any purchase price exceeding 10% of the value established by appraisal(s) must be approved by the Secretary.

(2) Any agreement for purchase of real property by an EEA Agency shall be in the form set forth by the Secretary after consultation with the Commissioner of DCAMM, with such changes as deemed appropriate by the EEA Agency Head in connection with a particular acquisition project.

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