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Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY

Chapter 447

previous next Effective - 28 Aug 2002bottom

  447.638.  Restoration of possession, compensation. — The owner may petition the circuit court for restoration of possession of the property and, upon due notice to the plaintiff organization, for a hearing on such petition.  At the hearing, the court shall determine whether the owner has the capacity and the resources to complete rehabilitation of the property if such work has not been completed by the organization.  If the court determines that the owner does not have the capacity or the resources to complete rehabilitation of the property, the court shall not restore possession to the owner.  If the court determines that the rehabilitation work has been completed by the organization or that the owner has the capacity and the resources to complete the rehabilitation, the court shall then determine proper compensation to the organization for its expenditures, including management fees, based on the organization's reports to the court.  The court, in determining the proper compensation to the organization, may consider income or receipts received from the property by the organization.  After the owner pays the compensation to the organization as determined by the court, the owner shall resume possession of the property, subject to all existing rental agreements, whether written or verbal, entered into by the organization.

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(L. 1993 S.B. 376 § 10, A.L. 2002 H.B. 1634 merged with S.B. 1086 & 1126)


---- end of effective   28 Aug 2002 ----

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