In 2007, Ohio revamped its eminent domain laws to provide specific rights to landowners and set out certain procedures for condemnation actions. Part of the law addresses the damages available to landowners, which refers to the compensation that they can seek and be awarded if part or all of their land is being appropriated through eminent domain. The following is a brief overview of the damages allowed. It is important to recognize that the value of every eminent domain case will be different and you should always discuss your specific circumstances and damages with an experienced condemnation attorney.
Fair market value – Owners are entitled to the value of their property as it would sell to a willing buyer and from a willing seller on the current market. Many factors go into determining this value, including the location of the property, improvements, condition of the structures and land, and anything else that either adds value or detracts from the value.
Relocation – If a taking forces a resident or business owner to relocate, they deserve payment for their expenses related to the relocation. This can include searching for a new property as well as reestablishing a business or farm.
Goodwill payments – If a business must relocate and, as a result, loses goodwill with clients or customers, the owner can seek compensation for loss of goodwill if they can prove the loss and that they could not have reasonably prevented the loss.
Economic losses – Relocating a business often disrupts operations and can result in losses of profits and assets. Owners can demonstrate and seek compensation for their actual economic losses, which can be up to one year’s of net profits.
Attorneys’ fees – If a case goes to court over compensation and the jury award is more than 125 percent of the initial offer from the government, the landowner can be awarded damages for a certain amount of attorneys’ fees, which will differ in each case.
If your land is being sought by the government, you should be represented by a highly skilled Ohio condemnation law firm. Please call Sever Storey at 888-318-3761 to learn how we can help you.
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Before going alone against the State let us give you our opinion. It is our pledge that we will provide a free case review for any individual or business facing eminent domain or condemnation. Contact us now at 888-318-3761