What is the difference between the amount of compensation I am entitled to receive and the actual amount I receive?

When it comes to eminent domain law in California, the amount of compensation you are entitled to receive is not necessarily the same as the amount you actually receive. This is because the process of seeking and awarding compensation for eminent domain, or condemnation, cases is highly regulated by state statutes. The amount of compensation you are entitled to legally receive when your property is taken through the power of eminent domain is known as the “just compensation.” This refers to the full and fair market value of the property. The just compensation is determined using factors such as the fair market value of the property before it was taken, the current value of the property, and the cost of relocation for businesses. On the other hand, the actual amount of money you receive for your property may be less than the just compensation due to various legal reasons. For instance, if a valuation is disputed, you may have to negotiate for a lower amount or go to court to resolve the dispute. Additionally, eminent domain law in California allows for “voluntary exchange” cases, where you can accept a lower amount for your property in exchange for benefits such as reduced relocation costs. Finally, if you fail to meet your legal obligations in the eminent domain process, you may receive a lower amount than the just compensation. In summary, the amount of compensation you are entitled to receive, or “just compensation”, may not always be the same as the amount you actually receive due to a variety of legal reasons.

Related FAQs

Can I receive compensation for a partial taking?
What is the procedure for resolving a dispute over compensation?
What is the difference between a public purpose and a public use?
What is the difference between eminent domain and condemnation?
How can I challenge an eminent domain action?
Are there any restrictions on the use of eminent domain power?
What is a declaration of taking?
What is a developmental impact fee?
Does eminent domain apply to all types of property?
Who has the power of eminent domain?

What is the difference between the amount of compensation I am entitled to receive and the actual amount I receive?

Related FAQs

Related Blog Posts