State Codes and Statutes

Statutes > Rhode-island > Title-37 > Chapter-37-6 > 37-6-23-2

SECTION 37-6-23.2

§ 37-6-23.2 Deposit of fair market valueas determined by state's reviewing appraiser. – (a) If, after the expiration of one year following the filing of thedescription, plat, and statement as provided in § 37-6-14, and afternotice by publication as prescribed by § 37-6-16, no petition for anassessment of damages has been filed in the superior court pursuant to §37-6-18 or otherwise, the acquiring authority may petition the superior courtfor one of the counties in which the land or other real property is situated orfor Providence county for permission to deposit in the registry of the court asum of money equal to the amount of appraisal of the parcel of land taken whichwas approved by the state's reviewing appraiser as the fair market value of theparcel or parcels of land taken and of appurtenant damages to any remainder.The sum shall be deposited in the registry of the court in a special account toaccumulate for the benefit of the person or persons entitled thereto. Theacquiring authority making the deposit shall take the receipt of the clerk ofthe superior court as evidence of his or her compliance with the order of thecourt. After such notice as the court shall order, the court after hearingevidence as to the approved figure of the state's reviewing appraiser, asaforesaid, shall direct the amount to be so deposited and invested. Theacquiring authority shall have the right to join several parcels of land in asingle petition, despite the fact that the parcels are owned by differentpersons, but, wherever possible, the sum deposited for each parcel ownedseparately or owned in common by more than one person shall be designated andrecorded with the clerk of court at the time of the deposit. When any personentitled to money so deposited shall satisfy the superior court of his or herright to receive the money, the court shall cause the money to be paid over tohim or her with all accumulations thereon.

(b) If a petition is filed under the provisions of §37-6-23.1 after the deposit of a sum of money in the registry of the court hasbeen made for the land or real property so taken in accordance with theprovisions of this section, upon entry of judgment thereon, the court shallorder the sum of money theretofore deposited in the registry of the courttransferred to the special account provided for in § 37-6-23.1, and theacquiring authority shall thereupon deposit in the special account a sum ofmoney equal to the difference between the sum transferred and the sum awardedby the court in its decision made under the provisions of § 37-6-23.1.