Can I be forced to sell my property for less than the fair market value?

In the state of Colorado, the answer to the question of whether you can be forced to sell your property for less than fair market value is generally yes. Eminent domain law in Colorado allows the government to take private property for public use, with just compensation to the landowner. The government determines the “just compensation” based on what the land was reasonably worth in the first place, rather than on the current market value or what the owner paid for it. In most cases, this value works out to be the market value, but in other cases, the government may determine that a lower price is fair, and can force the sale at that lower rate. There are, however, some cases in which a court may find that the landowner should be awarded more than the original market value. For example, if the taking of the land would reduce the landowner’s remaining property to an unmarketable size, a court may find the landowner is entitled to more than the fair market value. In general, though, if the government is using its power of eminent domain to take your property, you will most likely not be able to sell it for more than the fair market value, and you may even be forced to sell it for less.

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Can I be forced to sell my property for less than the fair market value?

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