The United States is a land of opportunity.
But as long as people and institutions are unable to access their rightful property, it can be difficult to preserve the landscape.
Louisiana is one of the few states that has laws protecting unclaimed real estate, according to the Louisiana Association of Realtors, and that could be in jeopardy under legislation signed by Gov.
John Bel Edwards.
“The unclaimed value of land in Louisiana is estimated at $1.3 trillion, but it is a finite resource, so the state will never be able to meet that demand, said David B. Rennert, executive director of the Louisiana Realtor Association.”
Louisiana’s unclaimed properties are important for all of us to preserve because they represent a significant investment in the future of the state,” he said.
Rennert and the association are among those fighting the legislation, which has garnered support from both Republicans and Democrats.
The legislation, SB 589, would protect property owners and other property owners from being evicted and evicting others from their property if they can prove their claim to the property was legitimate.
The bill does not apply to unclaimed homes, but would allow property owners to request a court order to remove unclaimed items from their homes.
It also requires any unclaimed land to be returned to owners and would require owners to pay a penalty of $1,000 a day if they don’t reclaim the property.
The bill was approved by the House Ways and Means Committee last week and will go to the full House.
In a statement, Edwards called the bill “important legislation” that “will help ensure Louisiana remains a leader in property rights and will allow Louisiana to build on its legacy of preserving historic property.””
State Rep. John Epperson, R-Baton Rouge, who introduced the bill, said it will help protect unclaimed lands, which he said are a crucial resource for Louisiana and other states.””
The state’s land trust and the federal Land Claim Revision Act (LCRSA) will help ensure that all historic properties are preserved.”
State Rep. John Epperson, R-Baton Rouge, who introduced the bill, said it will help protect unclaimed lands, which he said are a crucial resource for Louisiana and other states.
“I think it is really important for us to protect our state and its history and our property,” he told ABC News.
“I think we should protect our historic properties and keep our state leading the nation in that area.”
The land trust has been in place for decades.
Louisiana’s land was sold to the federal government in 1835 after the Civil War, and the state began to use the land for the development of roads, dams and other infrastructure.
The state has since acquired about a third of the land, according the Land Trust Revision Act.
But a lawsuit challenging the law was filed in the U.S. Supreme Court, which ruled in favor of the property owners.
Under the proposed law, any unoccupied property on state lands that is less than two years old would be considered a “property” for the purposes of the LCRSA.
The LCRCA would require landowners to return unclaimed pieces of land to their owners if they do not reclaim them within 30 days.
The legislation also would allow the Louisiana Attorney General to remove a property if the owner has not complied with a deadline under the LCLSA.
The Land Trust Reform Act was introduced last year by Sen. Anthony Brown, D-New Orleans, and Rep. Allecia Latham, D -Montgomery.
They said the legislation would “make sure we keep this valuable property available to future generations of people.”
The bill will be up for a vote in the Louisiana Senate Tuesday.