Time is money. Every moment you spend on worrying or planning, especially due to no fault of your own, is money lost and business disruption. When the government is taking your property or a portion of your property, it is certainly not your job to figure out how to make up for that lost time and compensation. As a business owner, you are losing not only the location of your business but also funds, profits, and employee hours due to having to find a new place. You face expenses, lost profits, lost productivity and possibly even the loss of your business location, as a result of the taking. You deserve compensation for these damages.
It is vital to have someone on your side that understands the severity of these losses and will give you the best possible representation so you can focus solely on your business and customers. It is your right to receive the highest compensation possible, and to have a lawyer who is capable of achieving that compensation, will be by your side, will act for you, and will work in your best interest. Let Policastro Law Group handle this for you.
The state has rights when it comes to eminent domain, but so do you. It is important that you know those rights and work with a lawyer who has the resources, experience, and tools necessary to get you the highest compensation for your business. Eminent domain is confusing and unexpected, and you deserve only the best representation and least stressful experience throughout the process. You are dealing with a situation that is in no way a fault of your own. It is your right as a business in the state of Florida to be properly represented and at no cost to you. If your business is being affected by eminent domain law, please contact us today for a free consultation.
The Eminent Domain Process for Business Owners
- Business Damage Notification is sent by the condemning authority to the Business Owner at approximately the same time as the property owner receives an offer to purchase.
- The Business Owner has 180 days after receipt of the notification letter to submit a written demand to the condemning authority asserting their business damage claim. Failure to submit a business damage demand within the 180 day period may result in the waiver of business damages. Florida law restricts business damage claims in the following manner:
1. The business must have been in operation on site for at least 5 years prior to the condemning authority’s purchase or condemnation of the property.
2. The business owner must maintain an ownership interest in the property at the time of the condemning authority’s purchase or condemnation of the property, either as the property owner or as a tenant pursuant to a written lease.
3. The Condemning Authority must be seeking to acquire only a portion of the property. If the condemning authority takes the entirety of the property, the business damage claim cannot be sustained.
4. The business owner must provide the condemning authority with business records that substantiate the business damage claim including but not limited to:
- Federal Income Tax Returns
- State Sales Tax Returns
- Balance Sheets
- Profit & Loss Statements
- State Corporate Income Tax Returns
- The condemning authority has 120 days from receipt of the business damage claim to either accept the offer, reject the offer or counter offer to the business owner.