Taking access rights to commercial or special use properties can be devastating to the business operated on site as well as the remaining value of the real estate. However, just because a condemning agency takes access to property, doesn’t necessarily mean that it will or is required to pay for it. The determination of when/if access rights are compensable in a particular taking can be complex. Often times removal/relocation of access to property can result in the business shutting down and the remaining value of the real estate being reduced to pennies on the dollar compared with what the owner previously thought or expected the property to be worth.
By: J. Eric Rochford, Attorney
If you live along the SR 37 corridor that has been identified as the I-69 Expansion Project Section Six that stretches from Indianapolis to Martinsville, you may have asked yourself the above question. Asking the state of Indiana to take your property early relates to what is called hardship/advanced acquisition or protective buying. Hardship/advanced acquisition is a method the state could use to take private property earlier than planned in order to lessen some type of health or financial situation for the property owner. Protective buying is a little different and refers to an action by the government to take a particular piece of land early to prevent imminent development and increased costs within a preferred location for the project.