If your property is scheduled to be taken by a local Florida government under eminent domain rule, you may end up confused about what this designation means. Further confusing those affected is that a “quick take” bypasses many usual rules.
What to know about a quick take
Most eminent domain cases require the governmental body acquiring your property to pay you before they take the property but after a court has decided its fair value. However, in some cases, that rule may not apply in a move known as a “quick take.” This motion allows an exception to the general eminent domain rule as the governmental entity appropriating the property pays an appraised deposit into the court registry and can take the property immediately. This process allows the property owner to withdraw deposited funds via an immediate motion for distribution.
Quick takes are common, yet they are extremely limited in their availability to the governing body requesting one. They are usually taken when the project the real estate will be used for involves road construction. Business owners should remain vigilant that governing bodies do not take their property under a quick take designation beyond what is noted in the U.S. Constitution.
Obtain your property’s worth
As a business owner, you are entitled to a fair valuation of your property, whether the appropriating body takes it through a quick take or normal eminent domain means. You deserve the highest compensation possible when a governmental body decides to acquire your property through eminent domain.
Accepting the first offer isn’t always the wisest choice in an eminent domain situation. Business and property owners should look into valuation with qualified professionals who can indicate your property’s worth and possibly advise on an appropriate amount of compensation for the parcel.