---
kind: "section"
citation: "16 U.S.C. § 460m–2"
title: "16"
title_heading: "Conservation"
number: "460m–2"
heading: "Reservation of use and occupancy of improved property for noncommercial residential purposes; term; valuation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/16/460m-2"
units:
  - "Chapter 1 — National Parks, Military Parks, Monuments, and Seashores"
  - "Subchapter LXX — Ozark National Scenic Riverways"
---

# §460m–2. Reservation of use and occupancy of improved property for noncommercial residential purposes; term; valuation


Any [owner](/usc/16/429b–3.md?p=4) or [owners](/usc/16/429b–3.md?p=4), including beneficial [owners](/usc/16/429b–3.md?p=4) (hereinafter in this section referred to as “[owner](/usc/16/429b–3.md?p=4)”), of [improved property](/usc/16/251h.md?p=2) on the date of its [acquisition](/usc/16/620e.md?p=1) by the [Secretary](/usc/16/410r–5.md?p=c-1) may, as a condition to such [acquisition](/usc/16/620e.md?p=1), retain the right of use and occupancy of the [improved property](/usc/16/251h.md?p=2) for noncommercial residential purposes for a term ending at the death of such [owner](/usc/16/429b–3.md?p=4), or the death of his spouse, or at the death of the survivor of either of them. The [owner](/usc/16/429b–3.md?p=4) shall elect the term to be reserved. The [Secretary](/usc/16/410r–5.md?p=c-1) shall pay to the [owner](/usc/16/429b–3.md?p=4) the fair market value of the property on the date of such [acquisition](/usc/16/620e.md?p=1) less the fair market value on such date of the right retained by the [owner](/usc/16/429b–3.md?p=4).


## Source credit

(Pub. L. 88–492, § 3, Aug. 27, 1964, 78 Stat. 608.)