The acquisition of real property in New York is a major investment. People spend hundreds of thousands of dollars on the homes where they live or commercial properties. Typically, those who hold the title for a piece of real estate have total control over what happens to that property. They can use it as collateral for a loan or sell it to someone else. They can also retain possession and ownership until they die and leave the property to loved ones as part of their legacy.
Yet, some property owners find themselves in a scenario in which they no longer have full control over their property. Eminent domain scenarios lead to the acquisition of private real estate holdings for public projects. Condemnation due to eminent domain proceedings can lead to the forced sale of someone’s home or other real estate holdings.
How can New York property owners push back against eminent domain claims against a property?
Questioning if the project is for public benefit
The rules for eminent domain in New York are quite clear. Typically, the projects that require the acquisition of property through condemnation must be for the benefit of the public. Highway expansions are a perfect example of projects that warrant condemnation. Projects that are for private development may not fall under eminent domain laws despite developers trying to claim that they do.
Suggesting alternative solutions
Occasionally, there are multiple different ways to complete a project. An alternative solution that does not involve a specific parcel could be an option in certain circumstances. Communicating with condemning authorities about alternative solutions could help someone eliminate the use of their parcel as part of the project.
Proving that the offer is too low
If someone cannot prevent the project from occurring or exclude their parcel from acquisition, then their last option may be to optimize the compensation that they received for the condemnation of their property. Particularly when someone has invested in upgrades or modernizations to a property, the proposed fair market value suggested for the transaction may not be appropriate. It may be necessary to fight for a more generous offer.
Those facing condemnation and other residential real estate challenges may need assistance. Seeking legal guidance to learn more about the options available via an eminent domain claim may benefit understandably anxious New York property owners.
