If you own condemned property in the state of Florida, you are more than likely at the mercy of eminent domain. Eminent domain refers to the U.S. government’s right to condemn property and transfer it from private to public ownership. If you own condemned property of any size, from agribusiness to individual home, and didn’t receive fair compensation for its value, it may be worth your while to seek legal counsel.
What is Inverse Condemnation?
The case you will most likely pursue in court is known as inverse condemnation. In a nutshell, what your legal team will be trying to prove is that the government has deprived you of your property’s economic value. In this case, economic value implies that the government has deprived you of your right to maximize your property’s value on the open market. If the court rules in your favor, market value will be the most likely standard used to assess your property’s value.
The Fifth Amendment of the U.S. Constitution states that, in the act of claiming private property for public use, the government must provide the property’s owner with ‘just compensation.’ In some instances, the government will offer you a pro-tonto payment, which you can accept without losing your right to legal action. Pro tonto payments are almost always much less than the figure provided by a court.
While the government has the right to eminent domain, you, as the property owner, have the right to inverse condemnation. It’s important to note that even if your property isn’t in the process of being claimed under eminent domain, its value might degrade due to government action on a neighboring or adjacent property, which sometimes entitles you to pursue a case of inverse condemnation. Though eminent domain typically applies to physical property, it can sometimes apply to funds or even intellectual property.
You may have Options
If the government claimed your property under eminent domain at an inadequate price, it is a good idea to seek legal counsel because you may be able to pursue a case of inverse condemnation.