Are there any restrictions on the amount of compensation I can receive?

Yes, there are restrictions on the amount of compensation you can receive under North Carolina’s Eminent Domain Law. The law specifies that the amount of compensation you receive must be “just,” meaning that the amount should be fair to both the property owner and the government or other party taking your property. The law also states that the compensation must include the fair market value of the property. Fair market value is determined by looking at the comparable value of similar properties in the area. In addition, the compensation you receive must include any damage to the remainder of your property that is caused by the taking. This is called consequential damages and includes, for example, damage to the rest of your property that results from the construction of a new road or highway. Finally, if the taking affects your use of the property in any way, then you may be entitled to receive a higher amount of compensation. This is known as consequential damages for “inverse condemnation.” For example, if the taking reduces access to your property, then you may be entitled to additional compensation for any potential loss in value as a result. Overall, the amount of compensation you will receive depends on many factors. If the amount offered does not seem fair, then you may want to consult an attorney who is experienced in North Carolina Eminent Domain Law for help.

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Are there any restrictions on the amount of compensation I can receive?

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