Purdue University’s [1] Department of Agricultural Communication describes eminent domain:
“Taking or reserving land for public use is part of our legal heritage. Eminent domain is the right of governmental bodies, agencies, utilities, and other organizations, acting in the public interest, to take private property.”
The term “condemn” or “condemnation” is a process to take private property for a public purpose under the right of eminent domain.
PROPOSED CHANGES TO INDIANA LAW
In the state of Indiana, House Bill 222 [2], which was authored by Senator Eckerty and introduced on January 6, 2016, provides:
“[B]efore a state supported college or university may acquire property that contains an operating business (other than a business that primarily consists of renting residential property) through the use of eminent domain, the college or university must pay to the owner of the property: (1) the fair market value of the real property and all improvementspertaining to the real property; and (2) compensation for the loss of the value of the business as a going concern, unless the college or university establishes that the loss of the value of the business as a going concern is not caused by the taking of the property or by injury to the owner’s remaining property, or that the loss of the value of the business as a going concern can be reasonably prevented or mitigated by relocating the business or trade in the same or a similar and reasonably suitable location. Specifies that the compensation required does not include any compensation for a loss to the value of the business as a going concern that: (1) is mitigated by relocating the business or trade in the same or a similar and reasonably suitable location; or (2) could be prevented if the owner of the property takes the actions and adopts the policies that a reasonable, prudent person of a similar age and under similar conditions as the owner would take and adopt in preserving the value of the business as a going concern.”
Contact an Indiana Eminent Domain Attorney for Assistance
The laws concerning eminent domain can be difficult to understand especially where an established business is involved. If you receive a condemnation notice, determining the amount of compensation to which you are entitled can be difficult and the skilled Indiana condemnation attorneys at the law office of Sever Walker Padgitt, LLP can assist you. Please call today at 888-318-3761 for help.
References:
[1] http://docs.lib.purdue.edu/cgi/viewcontent.cgi?article=2067&context=agext
[2]
