Private Corporations and Eminent Domain
How Waldo & Lyle Can Help
Eminent domain is a complex issue for private corporations. From land acquisition to the proper evaluation of property values, corporations must be aware of the implications of a particular condemnation for their business.
The experienced attorneys at Waldo & Lyle are well-versed in the specific concerns that are relevant to corporations in Virginia facing condemnation litigation and can help navigate the complexities of any related proceedings.
What Are Considered Private Corporations?
Private corporations are businesses or entities owned and managed by individuals or small groups rather than the government. They are distinct in many ways from public corporations owned and managed by a government entity.
For one, private corporations are not subject to rules and regulations set forth by a governmental agency. They may have shareholders but are not accountable to the public. Instead, their shareholders are primarily responsible for their success or failure.
In addition, private corporations have more control over the decision-making process since decisions are made without considering the general public’s opinions. This gives them more flexibility when it comes to launching products and services, setting their prices, and expanding operations.
They also benefit from more favorable tax treatment than public corporations, making them a popular choice for entrepreneurs and investors.
Corporations and the Eminent Domain Law
Like all property owners, corporations must contend with laws that grant governments and other entities the power of eminent domain and determine the degree to which they need to challenge the taking and offer of just compensation.
When a government or public agency exercises its eminent domain power, it can significantly interfere with a company’s ability to operate. It can also reduce the value of a company’s property and assets, making it difficult to expand or sustain operations.
Waldo & Lyle understands the sensitive decision-making process for whether or not to challenge the government’s project or offer just compensation.
We have years of experience helping private corporations navigate this aspect of law and its practical implications. Our team of experienced attorneys has a deep understanding of the laws governing eminent domain and the rights of corporate landowners. We would be happy to discuss how to protect your business in Virginia from the risks posed by eminent domain and ensure that you receive full compensation for any losses.
Our team of lawyers can also negotiate with governments or public agencies to reach mutually agreeable terms or to litigate the issues. We understand that it is important for private corporations to protect their interests and work towards fair compensation for losses caused by eminent domain. We will help you explore all available options and strive for the best possible outcome for your business.
How Waldo & Lyle Help Private Corporations with Eminent Domain
Waldo & Lyle can help provide clarity surrounding the eminent domain private corporations process and potential consequences of a proposed condemnation.
We understand that condemnation can be incredibly challenging and intimidating for any private corporation. Our team is here to provide expertise and guidance to help you protect your rights and interests. We will work with you at every step to ensure the process is as smooth as possible.
We can help in various ways, including helping you determine the fair value of the property in Virginia and what kind of compensation you may be entitled to if your land is taken. Our experienced attorneys will work with you to develop a strategy to minimize the impact of the eminent domain proceedings and maximize your recovery of the just compensation you are owed.
Our attorneys have extensive experience in eminent domain litigation and know how to effectively build your case to achieve the best possible outcome. We are passionate about protecting the rights of corporations throughout the process. Our team will work hard to help you receive the maximum compensation due to you under the Constitution.
Corporate Success Stories
Our constitution promises corporations the same property rights it guarantees to the smallest homeowner. When representing corporations, it is important to help judges and juries focus on the fundamental rights of the business entity and not the corporation’s balance sheet. Such was the case when the U.S. Government swooped in and condemned Marathon Development Group’s planned $250 Million highrise for a courthouse expansion after it had already laid the foundation. (In the attached video, Buddy Gadams describes what happened next.)
This was also the challenge when the Commonwealth of Virginia condemned a Fairfax County Taco Bell for a road project. The highway department agreed to pay for the land but, following longstanding policy, refused to pay for tens of thousands of dollars worth of restaurant furnishings and equipment, arguing it could be salvaged and moved to a new Taco Bell.
The company policy was only to install new equipment. The trial court judge sided with the Commonwealth against Taco Bell. Waldo & Lyle took the case to the Virginia Supreme Court. The court ruled unanimously that VDOT’s longstanding policy was contrary to long-established law. It ruled that the Commonwealth had deprived Taco Bell of its rights to just compensation. After the Supreme Court’s ruling, VDOT surrendered and made a fair settlement with Taco Bell. But even more importantly, Waldo & Lyle’s argument, having prevailed at the Supreme Court, set a precedent. By resurrecting a property rights principle, ignored for decades to the detriment of property owners across Virginia, Waldo & Lyle ended the state’s systematic underpayment of just compensation to businesses and corporations.
Buddy Gadams, President of Marathon Development