What are the different forms of compensation available for a taking?

In California, there are several different forms of compensation available for a taking under eminent domain law. Generally, property owners are entitled to just compensation for the taking of their property. This is defined as the amount of money that the owner should receive for the value of the property taken and any damages related to the taking. The first and most common form of compensation is market value. This is the fair market value of the property taken. This is determined by looking at comparable sales prices of similar properties in the vicinity and other factors. Property owners may also receive compensation for any relocation costs that are necessary due to the taking, such as the cost of moving, storage of personal belongings, and lost business income due to the disruption of the relocation. In addition, a property owner may also receive compensation for any severance damages they experience due to the taking. Severance damages refer to any loss of value to the remaining portion of the property that is not taken. For example, if a portion of the property is taken for a public project, the owner may be eligible for compensation for the decreased value to the land which is left behind. Finally, special awards may also be paid out to property owners for the taking of their property. Special awards typically refer to unique costs or damages that are not covered by the other forms of compensation. This can include any emotional distress caused by the taking, or any other loses that the property owner suffered which were the direct result of the taking.

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What are the different forms of compensation available for a taking?

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