Eminent Domain Actions in Florida: How Title Services Mitigate Property Seizure Risks
May 30, 2023
In Florida, eminent domain is the power of the state to take private property for public use. Despite being rooted in the Constitution and having been used around the country to construct necessary infrastructure, the process of eminent domain can be a difficult one for citizens whose property is taken.
Title Services can provide assistance that can mitigate the property seizure risks associated with eminent domain actions in Florida. When a property is seized by eminent domain, the title company works to ensure that the property owners are fully and fairly compensated for the value of their property.
The process begins with the title company reviewing the documentation related to the property and its value. This can include a valuation report that assesses the value of the property, the sale price of similar properties in the area, and any environmental concerns affecting the value of the property.
In addition to the title company's review of the documents, it is also responsible for ensuring that the state or local government pays the property owners fair market value for the property. Title services can provide assistance in this area as well, by carefully examining the documents and ensuring that the amount of money offered is fair.
Finally, title services can also provide assistance in the event of a dispute between the property owners and the state or local government over the value of the property. Title services can provide a neutral third party to review the documents and help the parties reach a mutually satisfactory agreement.
In sum, Title Services can provide assistance to property owners when their property is seized via eminent domain in Florida. The title company can review the documents, ensure that fair market value is paid, and provide assistance in the event of a dispute. Providing this level of assistance can help to ensure that property owners are treated fairly and fully compensated for their property.