What is the timeline for payment of compensation for a taking?

When a property owner in Nebraska is required to give up their land due to the power of eminent domain, they are compensated for it. The timeline for compensation depends on the details of the case. Generally, the property owner must receive payment for the taking within 30 days of the taking. This payment should cover the fair market value of the property as well as any associated costs. In some cases, the state will provide an advance payment to the property owner that is 75% of the estimated value of the property. This advance payment should be made within 15 days of the taking. The remaining 25% of the estimated value must be paid within 90 days of the taking, as long as the state does not challenge the estimated value of the property. If the state does challenge the estimated value of the property, the timeline for the payment of compensation can get complicated. The state will appoint an independent appraiser to determine the actual fair market value of the property. Depending on the length of the process, the property owner may have to wait several months for the payment to be finalized. Once the process is complete and the amount of compensation is determined, the property owner must receive payment within 30 days of the determination. The state may also be liable for any additional costs associated with the taking. If the state fails to make timely payment, it may be liable for additional damages.

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What is the timeline for payment of compensation for a taking?

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