<<<< What you describe, however, is not the use of eminent domain. Your
saying, "I agreed ... ," indicates it was a voluntary transaction with a
private company that compensated you for your losses and troubles. >>>>>
Eminent domain law requires compensation at fair market value for the
property used. What causes some confusion, is that can be a "forced sale"
rather than an agreed upon sale. Both options are available in the
execution of an Eminent Domain action. Almost always, however, the first
approach to the property owner is the presentment of the "agreed sale or
use".
To take personal property via the route of Eminent Domain law involves much
more effort and expense to the government people doing the action. And as
we all have experienced, majority of government employees are "work
adverse", so the "easy route" is taken where possible..
Eminent domain actions seldom leave the Citizen content, if it involves the
total taking of a property. Compensation rates are never truly "fair
market" but rather, "current market" .. and your plan to live there until
the kids leave college then sell at a market peak value price are
destroyed, for example.
If you agree to the sale, the proceeds are taxable income. (unless
the tax law has been changed in recent years) If you sit tight and
await condemnation, the proceeds are NOT taxable. So, unless the
"fair market price" is pretty lucrative, and much more so than the
condemnation price, you are better off to sit with your hands folded
and your lip zipped until they complete condemnation and take what
they want.
The pikers could get my interest faster if there is an annual
commission for the use like is done with cell towers. The one time
compensation in my family's experience has been bad with highlines
and pipelines. PBS tower is reasonable, but under half what a cell
tower pays annually.
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