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Eminent Domain is the power of the federal or state government to take title of private property so that property can be put to public use. For example, if a highway design calls for the placement of a ramp on private property the government might use its power of eminent domain to take title of the property so it can build the highway for public use. The process by which the government takes private property is known as condemnation. In order to restrain rampant government abuse of their power of eminent domain, the law states that a private owner whose property has been condemned must receive just compensation.
During the formal condemnation process, the property owner generally receives notice of the condemnation and an opportunity to contest the amount of compensation received for the property in court. In such condemnation cases, the property owner is entitled to the full fair market value of the property taken based on its highest and best use. If only a portion of a plot is condemned, the owner is also entitled to any damage caused to the remaining portion as a result of the loss. Fair market value of property is based on its highest and best use under existing zoning rules.
Fair Market Value
Fair market value is the highest price someone would pay for a property. Fair market value may range based on the date that the property was assessed. Appraisers may assist in the valuation and negotiation of the fair market value of the property if the parties are unable to agree on a value.
Just Compensation
Fair market value is not the only compensation factor the government must consider during a condemnation proceeding. For example, if the government takes the property of a business, the business owner may be entitled to compensation due to loss or disruption of the business resulting from the condemnation. Just compensation depends on the circumstances of each individual case. A consultation with an attorney at Melehy & Associates will help you to determine whether you are being fairly compensated.
Your Options
If the government is taking your property or if you think you are being unfairly compensated in your condemnation proceeding, you may benefit from a consultation with an attorney at Melehy & Associates. Partner, Vincent Melehy has over 14 years of experience in this field.
To learn more about local eminent domain news, please see the What's New section.
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