Compensation for Rented Property
When a property is leased or rented, both the owner and tenant may be entitled to compensation, depending on whether the lease contains an enforceable condemnation clause. If there is no condemnation clause, the property is generally valued as a whole and that value is then divided among the owner and the tenants according to… Read more »
Compensation Paid for Improvements
Owners are entitled to compensation not only for their property, but also for “improvements pertaining to realty.” These improvements can be anything from pavement and fencing to furniture and machinery, depending upon the facts of a particular case. The government is required to pay the fair market value “in place” of such improvements. Value “in… Read more »