What is the difference between a voluntary sale and a forced sale?

When it comes to real estate transactions in Nebraska, a voluntary sale is one where both parties—the buyer and the seller—agree to the sale and come to terms of their own accord. The buyer and seller negotiate and come to an agreement on the price, payment options, timing, and other aspects of the sale. A forced sale, however, occurs when the government exercises its power of eminent domain law and forcibly takes, or seizes, the property from the seller. The government compensates the seller for the sale, but the payment they receive may be far less than what they would get for a voluntary sale with a willing buyer. With a forced sale, the government has the final say on the price and the seller has no say in the transaction. Eminent domain law in Nebraska can apply to any property within the state, including private and public land, as long as the government has a valid reason for taking the property. Even though the government can exercise eminent domain, it does so only after extensive review and must also provide a fair and reasonable method of compensation for the seller.

Related FAQs

How do I prepare for an eminent domain proceeding?
What is the difference between direct condemnation and inverse condemnation?
Can my property be taken if I do not receive fair compensation?
How long does the eminent domain process take?
Can I receive compensation for the time spent on my property?
What is the difference between a public use and a public necessity?
Can I prevent my property from being taken?
What is the difference between a public purpose and a public use?
Who has the power of eminent domain?
What is the difference between a public use and a public interest?

What is the difference between a voluntary sale and a forced sale?

Related FAQs

Related Blog Posts