Posted August 13, 2018 16:34:50 The land is now owned by the ACT Government.
It was estimated to have a value of about $3.2 million.
The Government has put it up for sale in an auction.
If you or someone you know has been left without title to your property in the state of Queensland, you could be entitled to compensation from the Government for any lost value.
You could be awarded up to $3,000 for each unclaimed item.
What is unclaimed?
It is property that has been lost, damaged or abandoned and is no longer occupied.
Abandoned property is often sold to private individuals, businesses or a third party.
“Abandonment occurs when the owner of the property chooses to not continue to occupy it,” the Department of Property and Environment said in a statement.
There are many factors to consider in determining if your property has been abandoned, including: the property was in storage, it has been stored for some time, and it has not been used since it was lost or destroyed, the department said.
Unclaimed property can be valuable property, but it could be worth much more if it is held by someone else.
The department said if a property was sold, the person who sold it would have the right to take it back to its original owner.
In the ACT, property owners can claim an amount equal to the value of the land they lost to be recovered from the Department.
How much can I recover for unclaimed properties?
The Department of Government Property and Environmental Services (DGPEPES) says it will not recover an amount of money for unowned property that is worth less than $3 in value.
The amount of the claim depends on how much you lost.
If you have lost a significant amount of land in Queensland, then you can claim up to a maximum of $2,000.
For property lost in the State of Victoria, the amount of compensation is $2.50 per $1,000 of lost value, or $2 for every $1 of loss.
If your property is lost in NSW, you will only receive a maximum recovery of $1.25 per $2 in lost value for every thousand dollars of lost total value.
For properties lost in Western Australia, you may be entitled up to an additional $100 per thousand dollars lost in value, up to the maximum recovery amount.
For more information on unclaimed and abandoned property in Australia, contact DGPEPEs office on 1300 774 725.
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