Obtaining compensation for your business after eminent domain

| Sep 17, 2018 | eminent domain

You own a business on land that the government hopes to condemn for public works. Although you have owned and maintained your business for years, the eminent domain process may allow the government to quickly obtain your land and use it for city projects. Know that if you receive notice for eminent domain, you are not alone, and an attorney can help you in your quest for compensation.

Eminent domain exists to give the government an opportunity to condemn your property for public uses. Whether the government seeks to obtain your land, and subsequently your business, for electrical facilities, roadways, sewer systems or telephone pole sites, you want to receive compensation for your loss of property. A negotiation process exists to determine your business’s worth, but you feel you deserve more than its face-value due to your new loss of income and career. Hiring an experienced property rights attorney may help you in obtaining these necessary funds and offer you peace of mind should the government condemn your property.

Eminent domain and the seizing of business properties

The process the government uses in obtaining a business through the eminent domain procedure involves similar steps to the process of obtaining land. The government must first:

  • Notify your business that your property is necessary for a project
  • Notify your business that the project is necessary and your land will be acquired

After, the government will conduct an appraisal of your land and business and determine an awarded amount of compensation to offer you. It will send the notice by mail.

Counteroffers and business damages

According to Florida law, if your business requires damages for its condemnation, you have the authority to pursue further compensation in court, aside from the actual value submitted by the government through the appraisal.

You and your attorney will then draft a counter offer, including all necessary business damages.

Business damage in the counteroffer may include:

  • The nature, extent and monetary amount of the damages
  • The loss of income due to the condemnation
  • If remaining property is present, the decrease in its value

Any other business expenses may have the opportunity to be quantified and obtained by the business owners including the cost of reopening and the income lost during the closing of the business.

Your property rights attorney will work diligently to determine the monetary amount of your losses, so that you can obtain the correct compensation if your government requires the condemnation of your land, and therefore, your business. Though the government has the authority to obtain your legally-purchased property, you want the most knowledgeable attorney on your side to help you receive all damages and compensation for your lost property.