What is the compensation I can receive for my property?

In New Jersey, if the government takes your property for a public use through the process of eminent domain, then you are entitled to compensation. The amount of compensation depends on a number of factors, including the fair market value of your property and any hardship you may have experienced as a result of the government taking your property. In general, the compensation you receive will be equivalent to the fair market value of your property at the time it was taken. This value is determined by an appraiser who is approved by the government and tasked with determining the property’s fair market value. The value of your property is determined by factors such as its location, size, comparable sales in your area, and other factors. You may also be entitled to “hardship compensation”, which is additional compensation for any hardships you may have experienced due to the government taking your property. This is determined on a case-by-case basis, and is paid only if the government takes your property. Finally, you may also be entitled to “costs and expenses” incurred as a result of the government taking your property. These include legal fees, appraisal fees, moving expenses, and other related expenses. In summary, the amount of compensation you receive for your property when the government takes it through the process of eminent domain depends on a number of factors, including the fair market value of your property and any hardships you may have experienced. You may also be entitled to additional compensation for costs and expenses you have incurred as a result of the government taking your property.

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What is the compensation I can receive for my property?

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