
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 16USC459e-3]

 
                         TITLE 16--CONSERVATION
 
   CHAPTER 1--NATIONAL PARKS, MILITARY PARKS, MONUMENTS, AND SEASHORES
 
         SUBCHAPTER LXIII--NATIONAL SEASHORE RECREATIONAL AREAS
 
Sec. 459e-3. Retention by owner of right of use and occupancy of 
        improved property for residential purposes
        

(a) Time limit; value of reserved right

    Owners of improved property acquired by the Secretary may reserve 
for themselves and their successors or assigns a right of use and 
occupancy of the improved property for noncommercial residential 
purposes for a term that is not more than twenty-five years. The value 
of the reserved right shall be deducted from the fair market value paid 
for the property.

(b) Termination of right; compensation

    A right of use and occupancy reserved pursuant to this section shall 
be subject to termination by the Secretary upon his determination that 
the use and occupancy is not consistent with an applicable zoning 
ordinance approved by the Secretary in accordance with the provisions of 
section 459e-2 of this title, and upon tender to the owner of the right 
an amount equal to the fair market value of that portion of the right 
which remains unexpired on the date of termination.

(Pub. L. 88-587, Sec. 4, Sept. 11, 1964, 78 Stat. 931.)

                  Section Referred to in Other Sections

    This section is referred to in sections 459e-1, 459e-2, 459e-5, 
459e-6, 459e-7, 459e-9 of this title.
