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Sunday, January 10, 2010

Business Damages and Eminent Domain

Business damages are different from other eminent domain damages because they are not guaranteed in either the Florida or the US Constitution. In the words of the Supreme Court of Florida, they are "a matter of legislative grace, not constitution imperative." As a result, they are not considered part of either "just" or "full" compensation.

But this does not mean that business losses you incur as a result of an eminent domain taking of your business property are not considered by the court. There are several ways in which the court can compensate you for these "intangibles."

Property appraisal should include the value of your land at its "highest and best" use, which should take into account the value of the location for your business. You should be compensated at a rate that would allow you to purchase a new property of comparable value for your business, although whether you can actually find such a location can never be guaranteed.

Statutory damages have been granted for businesses in certain situations. This includes businesses that are subject to a partial taking for certain types of rights-of-way when the partial taking forces the business to relocate. Sometimes, it can be argued that the loss of your current location is tantamount to losing your business entirely and receive full compensation based on the total value of your business. Statutory business damages are granted in a separate hearing after the conclusion of the normal eminent domain process.

Property cures for partial takings that threaten your business can be designed to minimize business damages and restore your business to its state before it was affected by condemnation. These are incorporated into severance damages.

If your business is threatened by eminent domain, a skilled property rights lawyer can help you get the maximum allowable compensation for your property. Contact the Florida Property Rights Law Firm, P.A. today to learn more about protecting your business from irreparable damage due to eminent domain.

posted by Tiffany at 8:38 AM

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