Ownership and property management

Ownership and property management. (1) Title to the land or any property interest acquired through this program shall be held by the sponsor, but the department may retain a security interest in the land until the loan is repaid. (2) Land or improvements, acquired as uneconomic remnants or to minimize severance damage, may be disposed of by the sponsor. (3) Building sites or other improvements on the land may be cleared by the sponsor before development or prior to the disposition of unneeded segments.