There are a handful of scenarios in which people may lose control over real property that they have purchased or inherited. In some cases, individuals fail to pay their mortgages. They may eventually be at risk of foreclosure proceedings. Lenders can take possession of real property if people do not fulfill their financial obligations.
Those who fall behind on property taxes could also be at risk of losing their control over their real estate. Those who consistently fulfill their financial obligations might assume that they have nothing to worry about, but their ownership rights are still potentially vulnerable.
Specifically, state authorities and companies overseeing large projects for the state might attempt to condemn a property and force the owner to sell it. Condemnation is possible in cases where there is a pending project intended for public benefit. Property owners may end up forced to sell their homes in an eminent domain scenario. Thankfully, the law entitles them to appropriate compensation in such cases.
An offer might not be reasonable
Individuals facing condemnation may have many questions about their rights and the eminent domain purchase offer that they received. They may wonder if they can defend the property against condemnation. Preventing condemnation is feasible in certain circumstances, such as scenarios where the proposed project may not actually be for public benefit.
Frequently, the only recourse available is to establish that the amount of compensation offered is not truly reasonable. Factors ranging from mineral rights to improvements made to the living space could significantly alter what a property is worth.
In some cases, homeowners, business owners and investors facing eminent domain claims against real property can take the matter to court. They can present evidence that the amount of compensation offered for the forced sale of the property is unreasonably low.
Appropriate documentation of the property’s condition and the market in the area can raise questions about whether condemning authorities made a reasonable offer. In some cases, property owners can obtain a more realistic amount of compensation by responding assertively to pending condemnation proceedings.
Reviewing an offer and project details with a skilled legal team can help those facing an eminent domain claim navigate the situation effectively. Property owners frequently need help protecting their interests in eminent domain scenarios, and that’s okay.