taylor county eminent domain

Eminent Domain and Prejudgment Interest

by Evan Langsted on Apr 30, 2009

Author: Evan Langsted Eminent domain is the power of the government to take private property for public use.  The government is obligated to pay the property owner appropriate monetary compensation for their property, in a process called 201Ccondemnation.201D  Eminent domain can be a confusing and complex area of law.  One of the more confusing aspects of eminent domain is something called 201Cprejudgment interest.201D Since courts cannot immediately award compensation to property owners for eminent domain cases (these cases often take years to settle), most jurisdictions allow for interest to be added on to the original compensation amount from the time of the offer to the time of judgment.  This interest is called "prejudgment interest" and is applied to the difference between what was offered to you by the government as its "good faith" offer of compensation and the value of your property (or partial property, including...Read More >>