Reversionary Interest Conveyance Act

Legislation Details

The legislation authorizes the conveyance of the United States’ reversionary interest in approximately 8.43 acres of land in Sacramento, California.
The land is under the jurisdiction of the Bureau of Land Management and is depicted on a specific map.
The term “buyer” refers to the current owner of record of any parcels within the covered land at the time of the conveyance request.
The Secretary of the Interior is responsible for offering the reversionary interest to the buyer within two years of receiving a request.
The conveyance must be for at least fair market value, determined by an appraisal following federal standards.
The buyer is responsible for all costs associated with the conveyance, including surveys and appraisals.
Proceeds from the sale will be deposited into the Federal Land Disposal Account and used according to existing laws.
The legislation ensures that existing rights-of-way are not diminished and does not validate any claims to the land based on adverse possession or similar claims not confirmed by prior conveyance.