US Laws, Codes, Statutes & Cases

 
    §  5-329  Purchase  of  awards  by  the  city.  a.  In any proceedings
  instituted pursuant to any of the  provisions  of  this  subchapter,  or
  pursuant  to  the  provisions  of  any  other  statute providing for the
  acquisition of title to real  property  by  the  city,  in  which  title
  thereto  shall have become vested in such city prior to the entry of the
  final decree of the court, the mayor shall  have  power  and  is  hereby
  authorized  to purchase or to approve the purchase on behalf of the city
  from the individuals or corporations who were the owners  of  such  real
  property  at  the  date  of  the  vesting  of  title  thereto,  or their
  successors in interest or legal representatives, their right  and  title
  to  the  award  or  awards,  or  any  part  thereof,  to be made in such
  proceeding and to take an assignment thereof to the city. If such  owner
  or owners or their successors in interest or legal representatives shall
  have  transferred  or  assigned  such claim, such transfer or assignment
  made by such owner or owners or by their successors in interest or legal
  representatives shall not  become  binding  upon  the  city  unless  the
  instrument  or  instruments evidencing such transfer or assignment shall
  have been executed and  filed  in  the  office  of  the  comptroller  as
  provided in section 5-330 of this subchapter, prior to the completion of
  such purchase by the city.
    b.  An option granted to the city to purchase such award or awards for
  a period not to exceed six months shall not be  withdrawn  or  cancelled
  during the period named therein.