Intriguing Los Angeles Eminent Domain Cases
The process of eminent domain, that by which a government entity may take possession of a property for the price of fair market value, is usually a last resort in attempts to secure property for public projects. However, after recent Supreme Court rulings that expanded the use of eminent domain, the process has increased in frequency. This is especially true in larger cities where concerns between property owners and goals of government entities are usually in conflict and determinations of what constitutes fair market value is based on differing economic perspectives. In this regard, Los Angeles is a prime area for these types of issues and thus it is important that any property owner in Los Angeles be aware of the potential for eminent domain proceedings.
Fair Market Value
As with other areas of the country, results of Los Angeles eminent domain cases are not so much based on the appropriation of the land itself but on differences between what is considered fair market value. The inherent goal of any project is to reduce the costs of the project and many cities are under pressure to reduce costs even further, especially with high profile projects that may have detractors. Thus there is a emphasis among governmental entities to low ball or attempt to secure necessary land with less that full market value. What is often not considered in eminent domain cases, by the government when tabulating a the fair market value, is the long term generation value to a specific property. In addition, many times the comparison is brought, based on other locations nearby the to be condemned property, but these locations many not have similar prospects as the one being condemned. This creates a discrepancy between the values as presented by either the land owner and the one submitted by the governmental entity.
The Importance of Representation
The critical need for representation in Los Angeles eminent domain cases can not be understated. The reason for this is two fold. There is a significant amount of governmental entities that fund and manage projects that will require, now or in the future, properties that are most likely owned by private owners. The second, is that the complex nature of the issues concerning the determination of fair market value is not always readily apparent. Therefore, by the retention of representation an individual property owner can have a chance at gaining the real value of the property they own. Proper representation ensures that the rights of the private property owner are respected.
When considering representation in Los Angeles eminent domain cases, it is vital that whoever is representing the property owner be clear of any possible conflict of interest or other concerns. There are very few firms that have the experience and knowledge, as well as solely represent only business or property owners. One such firm, Century Law Group, is fully versed in the complexities of eminent domain and how to arrive at the best possible conclusion for the property owners. That is because they only represent business and properties owners and are goal oriented in gaining the compensation for their clients. Thus when faced with eminent domain proceedings, Century Law Group is the one that can help make sure that fair market value is indeed fair.