Proposed legislation in Indiana to change the powers of emient domain in Indiana could have significant benefits for landowners. Recently State representative Doug Eckerty proposed legislation that would require state supported universities and colleges that use the power of eminent domain to take property that contains an operating business to pay “compensation for the loss of the value of the business as a going concern.” (Preliminary draft No. 3381) Currenlty, eminent domain laws do not specifically provide for business losses. This means that business that are displaced by eminent domain and condemnation face a significant up hill struggle arguing for any losses of revenue that may be occassioned by their forced exit. To the attorneys at our firm this has always struck us as patently unfair to business owners who face substantial revenue loss as a result of displacement. The adoption of this proposed change would be a significant victory for business owner rights and might pave the way for additonial laws that would extend the concept of business losses to all condemnations in the State of Indiana.
At Sever Storey we are dedicated to protecting landowner rights in the eminent domain and condemnation process. If you would like a copy of the preliminary draft just contact us at phil@landownerattorneys.com or 888-318-3761.
