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

In South Carolina, when a property is taken under the Eminent Domain Law, the owner is entitled to payment of just compensation. This compensation will include the fair market value of the property taken, as well as any damage to the remaining property, if applicable. The timeline for payment of the compensation for a taking depends on several factors. First, the government body performing the taking must determine the amount of compensation that must be paid to the property owner. This process may include appraisals, negotiations, and mediations. Once the amount of compensation has been determined, the government body must pass a resolution to approve the compensation and authorize payment. After the resolution has been passed, the government body must issue a payment claim against the property owner and provide written notification of the taking, including the amount of compensation and a schedule for when it is due to be paid. If payment is not received within the specified timeline, the government body can file suit in court. Finally, the court must issue a judgment order for the payment of the compensation. This order may include any damages or interest payments that may be due. Once the judgment is issued, the government body must make payment to the property owner within 30 days.

Related FAQs

What is a taking?
How does the government determine the fair market value of my property?
What are the legal requirements for filing an eminent domain action?
How are relocation costs determined?
What is the difference between a public use and a public welfare exception?
What is the difference between direct condemnation and inverse condemnation?
Is there a way to appeal a condemnation order?
How can I challenge the amount of compensation I am offered?
What are the different types of compensation available?
Can the government take my property for private use?

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

Related FAQs

Related Blog Posts