United States v. 717.42 Acres of Land, Etc.

POLITZ, Chief Judge:

The United States appeals a judgment in the distribution phase of an eminent domain case. Finding no error, we affirm.

Background

In June 1926 Petit Bois, Inc. (PBI), a Louisiana corporation, acquired certain acreage on Petit Bois Island, a barrier island off the Mississippi coast. In May 1954 PBI transferred to its shareholders as a dividend an undivided three-fourths interest in the mineral estate. Congress designated the island for inclusion in the Gulf Islands National Seashore in 1971. In December 1979 John R. Stocks, a Florida resident and real estate developer…