(a) Where any interest in real property is acquired, an equal interest in all buildings, structures, or other improvements located thereon shall be acquired if such improvements must be removed or the value thereof is adversely affected by the use for which such real property is being acquired.
(b) For the purpose of determining the just compensation to be paid for any building, structure or other improvement required to be acquired as above set forth, such building, structure or other improvement shall be deemed to be a part of the real property to be acquired notwithstanding the right or obligation of a tenant, as against the owner of any other interest in the real property, to remove such building, or improvement at the expiration of his term, and the fair market value which such building, structure or improvement contributes to the fair market value of such building, structure or improvement or the cost of removal thereof, whichever is the greater, shall be paid to the tenant therefor.
(c) Payment for such buildings, structures or improvements as set forth above shall not result in duplication of any payments otherwise authorized by law. No such payment shall be made unless the owner of the land involved disclaims all interest in the improvements of the tenant. In consideration for any such payment, the tenant shall assign, transfer and release all his right, title and interest in and to such improvements. Nothing with regard to the above-mentioned acquisition of buildings, structures or other improvements shall be construed to deprive the tenant of any rights to reject payment and to obtain payment for such property interests in accordance with other laws of the Virgin Islands.