Owning commercial real estate in Florida and elsewhere is a lucrative move to make. However, it can be a challenging time for some, depending on the market. Thus, those seeking to purchase commercial real estate should be knowledgeable about the market and how best to go about this transaction. And, on the other side of the transaction, sellers should note ways to appeal to buyers, helping them move property off the market.
When a property owner sells their property, they likely complete the transaction by listing their property for sale. However, this sale could also be the result of a government taking. Eminent domain is when the government takes land from property owners for the benefit of the public. When this taking occurs, the property owner is supposed to be compensated for the property; however, just compensation does not always occur.
While many Florida residents aspire to purchase the perfect home, others prefer designing and constructing their dream home. Building a home can be a lengthy task, as there are many components that go into constructing a house. Thus, this opens up the possibility that something might go wrong at a certain phase in the building process. And, if construction defects occur, it not only creates setbacks but could compromise the overall value of the finished home.
Most Florida residents are aware that laws change. However, what they may not fully understand is how these changes, no matter how minor, can impact them in a major way. This is especially true when it comes to property owners. Whether one owns private or personal property, if land use or zoning laws are altered, this can greatly impact what can be built or dictate how existing structures can be used or renovated.
Eminent domain claims are often contentious. A property owner can feel like the government is violating their rights by forcing them to sell. The argument for eminent domain is that the property has to be taken in order to do something that betters the entire community.
No property owner would like being told that the government is going to take their property from them. While this scenario is what eminent domain is, property owners have certain rights in these matters. Not only can they take steps to ensure that they receive just compensation for their property, but they can also assert that there is no valid reason for this taking.