Many people are familiar with the idea of eminent domain when the government purchases a property from its owner. Less understood is inverse condemnation, which is when the property owner works with the government to sell a property without following strict eminent domain procedures. This process can work well for property owners and the government alike, and it can save both a good amount of money. Every state has different laws when it comes to inverse condemnations, and Florida is no exception.
How can inverse condemnation work?
Eminent domain matters can be an expensive prospect for the government and property owners alike as both may require long periods of time to work through legal requirements and appropriate appraisals. Inverse condemnation can provide a good alternative, particularly when there is a dispute over the value of a property.
With inverse condemnation, a property owner can ask the government to completely purchase a property. This may happen when eminent domain or some other event, like a flood or fire, damages part of a property. A great example is if the government seeks to take over part of a property asset, but the property owner argues that the government’s use of part of that property will damage their entire asset. When that happens, the property owner may ask the government to fully take over the asset and be compensated for it entirely.
Benefits of the process
These procedures can get extremely complicated. However, they often work in favor of the property owner, allowing them to be fully compensated for an asset that is only partially damaged. The law can often be used to protect a property owner and make sure that they are fairly compensated for the property.