If My Property is taken by Eminent Domain, How is the Compensation Determined?

 

 

Video Summary

 

If my property is taken by eminent domain, how is the compensation for the property determined?  Well the Florida statutes provide that you are entitled to just compensation.  So the amount that you're entitled to recover is determined through the appraisal process.  And so if you hire an eminent domain attorney, he will select appraisers and see about getting your property appraised.  And then he will negotiate or if necessary, have a trial and have a jury determine the amount of your compensation in an eminent domain transaction.

 

The issue is is whilst I'm worried about having to pay the attorney.  What is nice about the eminent domain statute, it provides that the attorney is entitled to be paid by the condemning authority, so whatever governmental body is condemning the property, must pay the attorney fees.  The attorney fees are measured by taking the amount that the first offer that was made by the condemning authority to you for the property and subtracting it from the amount that they eventually wind up paying you and then taking a percentage of that amount and that's going to be the attorney fees that your eminent domain attorney is entitled to.  So it will not cost you any money for an eminent domain attorney to handle that.

 

So if you're notified that a condemning authority is going to take a portion of your property for road right of way or for any reason, give me a call and I don't handle these but I will put you in touch with a very, very good eminent domain attorney that will be pleased to represent you and help you with this process.  You will find that the condemning authority will first come and ask them if you'll give them the property.  I believe that's the first step, then they will make you an offer and then once they make the offer then, I don't suggest you accept it until you consult with a eminent domain attorney and see if they can help you get any more money for your property.

 

So if you have any questions or you've gotten a letter from the condemning authority, well give me a call at 727-847-2288.