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How eminent domain may affect your commercial property

| Mar 22, 2021 | Real Estate

Youve worked hard to get where you are today. You are a commercial landowner in Texas. Maybe you have a business open on said land or are leasing space to other business owners. You expected this investment of yours to offer you financial security throughout your life. Now, unfortunately, you received word that the city or state is preparing to take your property, claiming eminent domain. How might this affect you and your property?

The bad news

The bad news is this: If the city, state or federal government has a solid reason for taking your property, they can do it as long as they offer just compensation — which has been addressed in a previous post. How will this affect you? Depending on how much of your land they require, you could have to close your business or require the other business owners utilizing your property to close their doors. If how the government plans to use the property affects traffic flow, you could lose customers which would affect your entire bottom line. In short, it will likely cause you to lose a lot in the end.

The good news

The good news is this: You dont have to sit by and let the government take your property without a fight. You have every right to express your concerns. You have every right to question whether the reason they are taking your property is really to benefit the public. You also have every right to seek fair compensation for what this will cost you now and in the long run.

Get help

The sooner you get help after being notified that your commercial property is being seized through Texas eminent domain laws, the better. This is not a fight youll want to wade through on your own. To learn how legal counsel can assist you, please take a moment and visit our firms website.