In the proposed settlement there is also some provisions in there for people that own land that has been soiled by the BP oil spill. Again this has not been finalized by the judge just yet but its in the proposal.
BP Settlement for Land Owners
If you own land or marshes that has been effected by the BP oil spill under the BP settlement your are entitled to compensation for oil being on your land. There are an estimated 90,000 land owners that are in the affected region that could possible seek compensation from their oil soaked land.
The way that I hear this is going down is as follows. It will be based off your 2010 property tax value and from there they will calculate a claim value per acre you own in the effected area.
This could be very good news for people with land holdings on the water ways or ocean front that has been affected by oil.
There will be a geographical map and if you land is on that map you can seek compensation. The talk is about a cap of 25,000 per acre and BP would still have to clean up the land I would imagine.
People That Sold Property In The Affected Area in 2010
So you would have had to have sold your property in the affected area probably something like Panama city Beach to a coastal area in New Orleans (maps will come out that will show this area) also your property has to be close to the water like 1/2 mile from the water. If you sold property in this area from May 2010 to December 2010 there is talk about in the settlement proposal that you should have a claim for loss of selling value. It will be a flap percentage that you can get. So if you sold your house for 400,000 in June 2010 you would get 50,000 (12.5%) more than what you sold it for. I hope there is lots of people that can file this claim with the compensation fund. Fill out a form on the right if you need an attorney to do this for you.
Loss of Subsistence Claims
Now this is a really hard one to define as you would have to have a history of getting fish from the Gulf Of Mexico and using it as consumption in your house hold. I still don’t know how you would prove this to the BP settlement fund to get paid. But its in there in the talks that you can file this claim. Under the GCCF you could file this claim if you where a commercial fisherman and use part of your catch for your family. Now in the proposed settlement as I hear it there is a cap on how much you can claim but its possible to file this claim against the BP settlement fund. Again we have to wait for the settlement proposal to be final before we can see how to document this claim. Now in the settlement proposal it does exclude recreational fishermen from this claim. That is a real shame that you could not prove the claim by just showing your recreational fishing license. We will see in the final version what it will say.