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A Study on the Legal Principles on Compensation Appraisals for Lands used as Roads under the Land Compensation Act

  • Public Land Law Review
  • Abbr : KPLLR
  • 2009, 43(3), pp.113-130
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

육정균 1

1국토해양부

Accredited

ABSTRACT

Lands used as roads are compensated at depreciated values under Korea's Land Compensation Act. Lands used as roads are classified into four categories for compensation purposes and they are non-compensative roads, approved privately-owned roads, non-approved privately-owned roads, and other roads. Of the four types of roads, the most problematic are private roads and in-effect private roads. Approved privately-owned roads are appraised at normal prices and only one fifth (1/5) of this assessed valued is compensated with four fifth of the value deduced. Likewise, non-approved privately-owned roads are appraised at normal prices and only one third of the appraised valued is compensated after two thirds is deduced. The public does not understand purpose behind this system of depreciated compensation and tends very often to raise strong objections. Theoretical basis for such depreciated compensation is the formative transfer theory. That is, partial value of land A is transferred to value of land B and is included in the price of land B. For example, when a building is constructed on a land without roads, roads that allow access to the building must be constructed. If so, the road ends up giving utility value to adjacent lands, so normal appraisal of the road would include duplicated value of the land. Therefore, the reasoning is that depreciated compensation is rational. However, this reasoning lacks objectiveness and this paper (thesis) aims to take a look at some argumentative issues to propose some ways in which it can be improved. This paper is focused as follows : Ⅰ. Preface Ⅱ. Compensation of lands used as roads under the Land Compensation Act Ⅲ. Legal principles on compensation appraisals for lands used as roads Ⅳ. Justification for depreciated compensation Ⅴ. Conclusion

Citation status

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