If an acquiring agency acquires property by condemnation, or by otherwise exercising the power of eminent domain, and that property is later sold by the acquiring agency for more than the acquisition price paid to the landowner, the acquiring agency shall pay to the landowner from whom the property was acquired the difference between the price at which it was acquired and the price at which it was sold by the acquiring agency less the cost of any improvements made to or benefiting the land by the acquiring agency. This section does not apply to property acquired by the state department of transportation.
Iowa Code § 6B.59
Sale of acquired property — reimbursement to landowner
Applied in 1 court decision — leading case Oyens Feed & Supply, Inc. v. Primebank (2016)
Most recently applied in Oyens Feed & Supply, Inc. v. Primebank (May 2016)
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.