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I don't know Louisiana law but here in Saskatchewan anything under
permanent water reverts back to the crown<br>
(province) so if it were Saskatchewan the levees are not rebuilt all
the property rights revert back to the state.<br>
And the state would determine what it would settle with any previous
owners prior to pumping out water <br>
or allowing any new rebuilding.<br>
<br>
<br>
Adrian Tymes wrote:
<blockquote cite="mid20050906213208.2398.qmail@web81602.mail.yahoo.com"
type="cite">
<pre wrap="">--- BillK <a class="moz-txt-link-rfc2396E" href="mailto:pharos@gmail.com"><pharos@gmail.com></a> wrote:
</pre>
<blockquote type="cite">
<pre wrap="">On 9/6/05, Adrian Tymes wrote:
</pre>
<blockquote type="cite">
<pre wrap="">Assuming you could buy out the entire city, or most of it. While
</pre>
</blockquote>
<pre wrap="">the
</pre>
<blockquote type="cite">
<pre wrap="">government may have the legal right to force the sales (see recent
eminent domain cases), even the US federal government might have a
</pre>
</blockquote>
<pre wrap="">hard
</pre>
<blockquote type="cite">
<pre wrap="">time coming up with that much money (without giving many people so
little that it could credibly be called far below fair value/market
price).
</pre>
</blockquote>
<pre wrap="">What's fair market value for land under six foot of water?
</pre>
</blockquote>
<pre wrap=""><!---->
Potentially pretty good, if there's a general assumption that the water
will soon be pumped out - which does exist, and I don't think it can be
shaken unless the levees collapse much furthre, beyond all hope of
repair.
</pre>
<blockquote type="cite">
<pre wrap="">There will be more hurricanes this season and more again in following
years. NO could well be hit again soon, maybe with a cat 5 this time.
</pre>
</blockquote>
<pre wrap=""><!---->
It would probably take something along those lines to do it. Which
means that cloud (no pun intended) would have a definite silver lining.
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</pre>
</blockquote>
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