Tag: eminent domain

Can a business be compensated for loss of business goodwill in an eminent domain action if the business had no goodwill to lose?

Facts: A business owner operated their business on a parcel of land. The business had yet to become profitable. The state condemned the property through eminent domain and compensated the owner for the taking in an amount which did not include compensation for any loss of business goodwill. The owner hired an expert to determine the amount of business goodwill lost due to the taking, who determined the owner lost a quantifiable amount of business goodwill.

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May an owner of condemned property recover damages for a decline in property value between when a project was proposed and commenced?

A government entity planned to construct a freeway bypass through an owner’s property. The government entity initially intended to seize only a portion of the owner’s property and staked out the boundaries of the partial take before commencing work. Two years later, the government entity began work and seized the entire property, providing compensation to the owner in the amount of the property’s fair market value (FMV) at the time the entire property was condemned.

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Reverse eminent domain met with redlining threat

Will reverse eminent domain save or damn underwater homeowners?

Mortgage Resolution Partners (MRP) has expanded its reverse eminent domain proposal to include homeowners delinquent or in default on their loans. However, representatives of Wall Street, the mortgage industry, the Federal Housing Finance Agency (FHFA) and financial trade associations continue to…

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