“In the case of this NCDOT project, home, property, and business owners may be left wondering if they will lose part or all of their property for pennies on the dollar,” said NC Eminent Domain Law Firm Attorney Stan Abrams
Albemarle, N.C. (PRWEB) June 14, 2017
Home and property owners along the path of a major roadway project in Eastern N.C. are beginning to see their properties marked off while very official looking purchase offers arrive.
Home and business property owners in the path of the N.C. 24-27 road widening project in Troy and Albemarle are among the thousands of North Carolinians who will lose part or all of their home and business properties to eminent domain in 2017.
However, the offers some property owners receive from state officials may amount to far less than what their property is worth, according to former North Carolina Department of Transportation (NCDOT) attorneys at the NC Eminent Domain Law Firm. Rather than accepting these offers, owners may want to exercise often-misunderstood rights, including the ability to negotiate for a “second check.”
A seminar on Thursday evening, June 29th, at 7 p.m. at the Sleep Inn & Suites in Albemarle (621 N.C. 24, Albemarle, NC 28001) will explore property owners’ rights at no cost to participants (more below).
Offers Below Value
At $45 million, this project is a major part of NCDOT’s annual roadway projects.
“In the case of this NCDOT project, home, property, and business owners may be left wondering if they will lose part or all of their property for pennies on the dollar,” said Stan Abrams, an attorney with the NC Eminent Domain Law Firm and former NCDOT attorney. “Home and property owners should know they have rights, and like any major financial or legal decision, should not just sign on the dotted line.”
Property owners in the path of this project will soon receive (or may have already received) purchase offers from state officials. According to Abrams, property owners should be careful – projects that have been so carefully considered can spare a few moments to ensure citizens get a fair shake.
“Homeowners receive a very official looking offer and think that is the ‘law’ for what they are able to receive,” Abrams said. “If an offer has been made, there may be a more complete and satisfactory offer to be gained through reappraisal and negotiations.”
By North Carolina law, property owners whose land or businesses are targeted for acquisition ultimately receive an offer from the state. If the owner chooses not to accept the offer and takes no further steps, the state will still acquire the land and deposit the amount of the original offer with the County Clerk for the owner.
This is where the NC Eminent Domain Law Firm’s “second check” approach comes in. What many property owners don’t realize is that in most cases, they are then free to pursue a better, fairer arrangement, without losing the first offer.
If continued negotiations do not change the offer, the owner still keeps the first offer. But if continued negotiations are successful, the property owner will receive a “second check” in addition to the first check that was already deposited.
“We hate it when we see property owners get less money than they should, simply because they didn’t know the full extent of their rights,” said Abrams.
The NC Eminent Domain Law Firm will host a free informational session on Thursday, June 29th to answer property and business owners’ key questions. Some of those questions typically include:
- How will the value of my property be calculated?
- Can I assume the offer for my property is fair?
- How is fair market value determined?
- What if I lease space? Will there be allowances to move my business?
- Should I get my own appraisal?
For more information about the meetings, please call the NC Eminent Domain Law Firm at 1-877-393-4990.
A division of the Law Offices of James Scott Farrin, the NC Eminent Domain Law Firm is dedicated solely to representing property owners throughout North Carolina, who may be impacted by eminent domain law. The NC Eminent Domain Law Firm is led by attorneys Stan Abrams and Jason Campbell, both of whom previously worked as Assistant Attorney Generals for the North Carolina Department of Justice in the Transportation Section, where they litigated condemnation cases for the NCDOT. They have over 25 years of combined experience working exclusively on eminent domain cases. The Law Offices of James Scott Farrin has the legal resources of 44 attorneys and is based in Durham, North Carolina, with 14 offices throughout the state to serve its clients.
NC Eminent Domain Law Firm
1001 Morehead Square Drive
Charlotte, NC 28203