If your business is subject to a government taking, according to eminent domain law — and your objective is to receive compensation for your investment — you should know about important factors such as valuation and “goodwill.”
The fair market value of property is the highest price estimate that the property would bring if sold within a reasonable period of time — the “highest and best use” of the property. Real estate appraisers for both parties will each make a determination of the property’s fair market value. Both appraisals will be presented to a jury to determine the final amount paid. Appraisal amounts can differ drastically, which can lead to a big difference in the final amount paid.
At this critical time, you need a full-service eminent domain law firm in your corner that can negotiate a favorable outcome.
Century Law Group, LLP’s attorneys work with knowledgeable appraisers who can give a fair appraisal of your property. Our many years of experience with all aspects of eminent domain lawsuits, dedicated advocacy for your goals and tradition of personalized service uniquely qualify us to represent your interests during this difficult time.
In Eminent Domain Representation In California Statewide
If a business is on property which is condemned, whether it owns the property or leases, the business owner is entitled to compensation for loss of business goodwill as a result of moving business locations. The owner must show that a loss is caused by the property being condemned and that the loss cannot be reasonably prevented by relocating. Typically, a goodwill expert will evaluate the loss of goodwill caused by the condemnation.
Learn more about the roles of business valuation and goodwill in your eminent domain case, and arrange your initial consultation, by contacting one of our Century Law Group, LLP lawyers in Los Angeles, San Diego, Northern California or Texas. Call 866-779-6353 or stay online to send an email message.
