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

In North Dakota, when eminent domain is used to take private property, the government is obligated to provide some form of compensation to the owner. The type of compensation available depends on the situation and can be determined by a qualified real estate appraiser and the court. The most common form of compensation is the fair market value of the seized property. This means the owner is compensated for the estimated fair value of the property taking into account current market conditions. This value is determined using a variety of methods, such as market sales or income approach analysis. In certain cases, the owner might be entitled to “special benefits” compensation. This could happen when the taking of the property will improve the value of other properties owned by the owner. The owner may also receive “in lieu” compensation in certain circumstances. This could happen when the value of the taking is equal to or greater than the value of the owner’s original property. In these cases, the owner will receive compensation for the potential of lost profits they could have generated from the property. Finally, there are cases where the owner is provided “injurious affection” compensation. This could occur when the taking of the property results in a decrease in the value of other properties owned by the owner, even if it’s not taken. In these cases, the owner is provided compensation for the decrease in the value of their other properties. No matter the form of compensation available, North Dakota law stipulates that the owner must receive full compensation for any taking of their property.

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

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