Easements for a facility - Terms
N.D. Cent. Code § 49-22-16.2
in effect49-22-16.2. Easements for a facility - Terms
Any easement for an electric transmission facility as defined in this chapter acquired
contractually by a utility after July 1, 1979, shall give the landowner the option of receiving a
single sum payment for the easement or receiving payment in annual installments of equal
amounts including interest on the outstanding balance to be paid by the utility at a rate equal to
the average rate paid during that year by the Bank of North Dakota on a certificate of deposit in
an amount equal to the outstanding balance. The first annual installments shall be prorated to
July first and all following annual installments shall fall due on July first. The option provided
herein shall not apply to any easement providing for compensation of less than five thousand
dollars. In the event the landowner elects to receive the compensation in annual payments, the
benefits unpaid at the time of sale of the real estate to which the easement attaches shall
accrue to the purchaser of said real estate thereafter. The utility right-of-way agent shall inform
the property owner of the owner's option to choose annual installments.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t49c22.pdf#nameddest=49-22-16p2Fetched: 10/16/2026