Eminent domain refers to the government’s power to take away someone’s private property for the use of the public. This right extends to private developers who plan to use the property for public use. However, a real estate attorney in Broadway North Carolina can explain that there are certain procedures that must be followed before you can have your private property taken. Some of the ways that a real estate attorney in Broadway North Carolina include:
Explanation of the Process
A real estate attorney can explain which forms of government and agencies have the right to take your land. Additionally, he or she can explain the process of how your property’s value is assessed and how you will receive compensation for your property. Additionally, a real estate attorney can explain how a partial condemnation affects your rights.
Assessment of Value
You and the party seeking to take your property are at odds and have different interests. You will want to receive the maximum value for your property while the government will want to pay the minimum amount possible. The government is required to offer you just compensation for your property. This term requires the government to provide you with an offer that matches the fair market value of your property. However, different experts can disagree about what constitutes the fair market value of your property. If you do not believe that the government’s offer is fair and that it does not represent the fair market value, you have the option to challenge this figure in court.
Protection of Legal Rights
A real estate attorney can evaluate whether the government or private party has complied with all of the relevant requirements, including providing notice of the intent to take the property.