Is a business operation that consists solely of leasing real estate to others at the displacement site eligible for the reestablishment payment?
Yes. The business of leasing real estate to others is considered to be a small business for the purposes of the regulations for the Uniform Act. The owner of the business is eligible for reimbursement of the actual, reasonable, and necessary expenses for the reestablishment of a rental property. The agency should provide the same advisory services to real estate leasing operations as performed for other businesses including providing information on suitable replacement properties. It is the agency’s responsibility to determine if the expenses to be reimbursed under reestablishment are reasonable and necessary.
Related Questions
- CFR 24.304. Is a business operation that consists solely of leasing real estate to others at the displacement site eligible for the reestablishment payment?
- Is a business operation that consists solely of leasing real estate to others at the displacement site eligible for the reestablishment payment?
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