Subdivision 1. Terms.
For purposes of sections 222.631 and 222.632 , the following terms have the meanings given them.
Subd. 2. Fair market value.
"Fair market value" means the price negotiated between the parties under section 222.632 , or the market value of the property minus the value of any leasehold improvements, as determined by independent appraisers.
Subd. 3. Leaseholder.
"Leaseholder" means a person who holds a lease, license, or permit with respect to property within a right-of-way, and who has erected eligible leasehold improvements on the property with a total fair market value of $7,500 or more.
Subd. 3a. Nonrailroad lessor.
"Nonrailroad lessor" means one who has granted to a lessee an interest in property within a right-of-way and who is neither (1) an operator of a railroad on the right-of-way, nor (2) an owner of a controlling interest in or under common control with a railroad that operates on the right-of-way.
Subd. 4. Railroad interest.
"Railroad interest" includes a railroad corporation, its trustee or successor in interest, a railroad corporation which is in proceedings for bankruptcy under federal law, and a nonrailroad holding corporation that owns a controlling interest in a railroad.
Subd. 5. Right-of-way.
"Right-of-way" has the meaning given it in section 222.63, subdivision 1 .
Subd. 6.
[Renumbered subd 3a]