Litigation Valuation

What is Eminent Domain?
Eminent Domain is the process used by the government and other authorities granted the authority to acquire private property for a specific public use.

How does it Work?
Generally, the entity requiring the needed property (the condemning authority) contacts the property owner and informs them of the need for all or a portion of the property. After this notification, an appraiser working for the condemning authority will contact the owner and request an inspection of the property in order to complete an appraisal. Upon completion of the appraisal, an initial offer is made to you. If an agreement is not reached, the legal process will begin which will result in an Order of Taking by which a circuit court or federal court will convey the property required in exchange for the condemning authority’s estimate of the value. If a court ordered mediation does not reach a settlement, a jury trial would be held with the jury determining just compensation.

What Should I be paid for?
The amount of payment depends on what state the property is located.  Existing nomenclature for compensation is based 1) The Federal Rule, or; 2) The State Rule.  The primary principal difference between the two, involve payment for the taking.  Under the Federal Rule, the valuation is simply what the property is worth immediately prior to the taking and what it is worth immediately after the taking.  Under the Federal Rule, the taking can be offset by enhancement to the remainder.  Under the State Rule, the condemning authority must pay for the taking, regardless of the enhancement to the remainder.  The Commonwealth of Kentucky operates under the Federal Rule, while the state of Indiana operates under the State Rule. 

How Can We Help You?
It is essential to know that the condemning authority has a team of skilled experts consisting of at a minimum an attorney, engineer/land planner and real estate appraiser, all of whom are working at the direction of the condemning authority. Our firm has worked with numerous attorneys, engineers, land planners, marketing experts, accountants, etc. in assisting private property owners throughout Kentucky and Indiana.  George K. Cox, MAI, SRA, can work with you to recommend and assemble a team of the best professionals to insure your private property is not acquired without all aspects of full compensation addressed.

Who Should I Contact?
Our firm is willing to meet with you to discuss your particular situation and available options. We would be willing to share any maps or other information about your property in relation to the possible condemnation of your property. If we can help, please call or e-mail one of us and we will gladly assist you in any way we can.

Remember – You can’t predict – You can prepare