301 CMR 51.04 - Preparation for Real Property Acquisition
Due Diligence. The following shall be
obtained for each parcel of
(1)
Appraisal. In accordance with policies and
specifications established by the Secretary , and except as may otherwise be
determined by the Secretary , two appraisals by real estate appraisers certified
or licensed pursuant to M.G.L. c. 112, dated no earlier than a year prior to
the date of execution of the acquisition agreement or conveyancing documents
are required with respect to each acquisition of real property. Appraisals
shall not be required for gifts or devises of real property.
(2)
Title. A title
report, including an attorney's certification of title on a form prescribed by
the Secretary after consultation with the Commissioner of DCAMM , performed in
accordance with policies and specifications established by the Secretary, is
required with respect to each acquisition of real property. The title
certification shall have attached to it true copies of all documents relative
to and evidencing the encumbrances and defects to title, if any, listed by the
certifying attorney.
(3)
Environmental Site Assessment. A commercially
reasonable environmental site assessment is required when determined by the EEA
Agency Head to be appropriate, for the acquisition of a parcel of real property
or interest therein. Any such assessment shall be sufficient to permit the EEA
Agency Head to determine the environmental condition of the real property in
accordance with policies and specifications established by the
Secretary.
(4)
Survey. At the discretion of the EEA Agency Head and
subject to the policies and specifications set by the Secretary a survey of the
real property in conformance with
250 CMR 6.00: Land
Surveying Procedures and Standards and in a form to be prescribed by
the Secretary shall be required, together with a metes and bounds legal
description of the real property .
(5) Such other information as the EEA Agency
Head shall deem necessary or appropriate.
Notes
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