Highest and Best Use, Mitigation?

Eminent domain practitioners are well versed in analyzing a property’s highest and best use. Under these principles, a property being condemned is not necessarily valued based on its current, existing use. Where the appraiser can show that the property’s actual value is based on a different use, that use can often be the foundation for the valuation (assuming that other use meets the four-part test of highest and best use, which is beyond the scope of this post; if you’re really bored today, here’s a link to Wikipedia’s discussion of highest and best use). (more…)

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Small Takings on Preserved Agricultural Land

Pa. development fight grows on ‘sliver’ of farmland
Updated: JANUARY 22, 2017 — 3:03 AM EST
by Michaelle Bond, Staff Writer @MichaelleBond

It is a mere “sliver” in the county that has the state’s richest harvest of farmland, more than 100,000 acres of which is off-limits to development.  But conservation activists say the future of land preservation in Pennsylvania hinges on the fate of a patch of Lancaster County farmland that is less than a third of an acre.  So-called sliver taking is a process in which small parcels of farms are seized by eminent domain to accommodate road projects. (more…)

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Important 30-Day Time Period in Eminent Domain Actions

Important 30-day Period in Eminent Domain Actions

Once a Declaration of Taking (D/T) is filed against your property there is an important 30-day period that begins to run.  A property owner must within the 30-day period file any objections to the taking with the Court. (more…)

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Estate Planning for Unmarried Partners

When you’re in a romantic partnership – as opposed to a marriage – you need to create the legal protections and benefits automatically afforded to those who are married. For example, married persons legally inherit from each automatically and can visit their spouses in the hospital without question. You and your partner can do the same, but only if you have the legal documents that create those rights. (more…)

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Is a Financial Plan Enough? Why Experts Say You Need an Estate Plan, too

If you want to leave a robust financial legacy for your family, a financial plan alone is like trying to guide a boat with just one oar. It’s only part of the big picture for your overall monetary health. A well-informed financial plan is worth your time for several reasons, but let’s look at how financial and estate planning can work in tandem to create the best possible future for you and your family in the years to come: (more…)

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Your Estate Planning Binder: Tips for Proper Care and Maintenance

You finally crossed “getting your estate plan done” off your list, and you’ve (rightly) breathed a huge sigh of relief. By tackling this challenge, you’ve not only established protections for your loved ones and legacy, but you’ve also freed up some important “mental space” that had previously been preoccupied. (more…)

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5 Things Every New Mother Needs to Know About Wills

As a new mother, you naturally want to ensure your new baby’s future in every way. For many new mothers, infancy is a time for celebrating new life, and making a will is the last thing on their minds. For others, the process of bringing new life into the world sparks intense feelings of wanting control and needing organization. Regardless of where you fall on that spectrum, you might be struggling to figure out what steps you need to take to protect your children’s future should the unthinkable happen. Here are five key things every new mother should know about wills. (more…)

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WHAT IS A 1031 EXCHANGE?

 

Thanks to IRC Section 1031, a properly structured 1031 exchange allows an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gain taxes. IRC Section 1031 (a)(1) states: (more…)

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