Condemnation Award

Condemnation Award

Payment in money or replacement property that is received for property condemned by a government authority…
References in periodicals archive ?
The IRS position is that a condemnation award must segregate severance damages and other components, or else a presumption exists that the award was only for the property taken.
If the property is condemned, the ground lease should provide for an equitable sharing of the condemnation award.
Contaminated property taken by eminent domain should be valued as remediated when determining condemnation award
The Eminent Domain Procedure Law allows property owners to seek reimbursement for attorneys' fees, costs and expenses when the court's condemnation award is substantially in excess of the condemnor's initial valuation.
today announced that CMC Heartland Partners has reached a proposed settlement in its appeal of a condemnation award by the Redevelopment Authority of the City of Milwaukee ("RACM").
Subject to certain thresholds and limits, the loan documents will require the borrower to restore the property with the insurance proceeds or condemnation award.
Conservancy officials have said the agency would be hard-pressed to come up with the $19 million needed to purchase the property if a jury issued a condemnation award.
The statutory duty of a judge to increase a condemnation award for property with heritage value is not stayed when parties file objections to the award, according to the Supreme Court of Missouri.
The special dividend represents a portion of the interest received and expected to be received from the State of Rhode Island in connection with a condemnation award recently affirmed by the Rhode Island Supreme Court after deducting therefrom the expenses and taxes related thereto.
For example, attorney's fees incurred in connection with the recovery of interest paid on a condemnation award were nondeductible capital expenses, because they were incurred to increase an award for loss of property.
Marcus said he was reminded of one of his previous matters, where the judge ruled the 6 percent interest rate on a condemnation award was unconstitutional and raised it to 9 percent.
The Supreme Court of Kansas upheld as enforceable a lease agreement providing that a tenant was entitled to a portion of a lessee's condemnation award to compensate the tenant for lost profits.