Eminent domain

Eminent domain is defined as land acquisition through compulsory purchase, resumption, or expropriation by the power of the state or authority of taking property from its owner for public use or benefit. If the government, utility company or highway department wants to take your property or any portion thereof, it is obligated to provide you with “just compensation.” Generally, the way this is accomplished is by establishing an estimated value of the taking. If you have counselors working for you believing it is not important to obtain an appraisal possibly you should seek a second opinion. It is paramount to put in place the right legal and valuation team when dealing with these matters. The idea of fair compensation generally sounds reasonable when first heard, but one of the biggest mistakes made is going through the mechanics of the process without a value compass pointing you in the right direction. After all the main issue is value. Any major acquisition-disposition in this arena requires very specialized valuation experience, and unless your counsel has this it could prove expensive in the end. We have performed hundreds of takings and partial takings for both sides over the years and bring focused experience in helping our client achieve “just compensation” goals. Further, we have experience with testimony in State, Federal and local municipal courts in these matters.