I got an offer from the state for a piece of property I own. They're taking it and one other parcel by eminent domain to make room for a new road project. The property is not worth that much but I think it's worth a lot more than they are willing to pay me, based on what two different Realtors have told me. My question is about the amount they are offering for the land. So can I take the money they offer but still sue for more money or do I waive my rights by taking the money? Thanks.
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The Editor, Mark Bernardin, is an attorney living in MA. Please send your suggestions or comments to: TheEditor@malawforum.com
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Eminent domain
I'm guessing that this property has to be worth enough to warrant a call to a Massachusetts attorney who knows real estate and eminent domain law, before you do anything. However, if you do not agree with the "just compensation" that the appraisers came up with, there is a process that allows you to accept what is called the "Award of Damages" on a "Pro-Tanto" basis. The process allows you to take the money while preserving your right to later bring an action to recover the difference between the amount you were awarded in damages and what the property may actually be worth. Keep in mind there is a statute of limitations for such a lawsuit. You must bring your action within 3 years from the date that the Order of Taking is recorded at the Registry of Deeds. Good luck.