There is no doubt that a lot of work goes into purchasing a home. You have to earn enough money, build up your credit, and grow your level of financial stability in order for a mortgage lender or bank to agree to work with you so that you can live in the home while you pay on it each month. Of course, if you have the funds to outright purchase the home, then the process becomes much easier for you. But, with all the work you put into acquiring your home, wouldn’t it be devastating to learn that the government wants to take it from you?
Although the government cannot just march into your home and demand you hand over the keys, there are a number of ways you could lose it. The first is foreclosure. If you simply cannot afford to keep up with your mortgage payments and fall too far behind, your GA home could be foreclosed on and you would essentially lose it to the lender whom you owe money to. You could also lose it to the government if you fail to keep up with your property taxes.
But, as unfortunate as it is, when we are hit with a financial hardship and cannot afford our monthly expenses, sometimes, we are left with no choice but to give it up.
The other way you could potentially lose your home is by eminent domain. Now, this is when the government decides they need your private property to complete a project which might include building a public facility such as a hospital. Now, the catch is, the government must use your property for public use and must provide you with written notification of their intentions before taking any sort of action such as filing a petition.
Now, to be clear, both federal and local governments have the right to exercise the power of eminent domain. This means power companies, hospitals, and stadium authorities can also approach you for your home or business asking that you sell it to them. Now, they must provide you with an amount that meets the fair market value, although you may not be in agreement with this amount. And if you cannot come to an agreement with the government entity on the price, which most property owners won’t as not too many are willing to walk away from their investment, then your case is taken before a court.
If it comes to this point, the government entity must prove that they plan to use the property for public use, although you will also be entitled to support your argument and explain why you don’t think you should be required to sell. And if you are adamant about retaining your property, AJC highlights two key points you can use to challenge having your property taken:
- Prove that your property is not going to be used for public use but that it is simply being used to “benefit a private entity.”
- You can disagree with the amount of compensation that is being offered.
If you are on the verge of losing your home in Cartersville to foreclosure or a government entity that is exercising eminent domain, contact a Cartersville, GA foreclosure attorney today to discuss the ways you can save your home.
Now, anyone who is faced with such circumstances would want to hire a GA eminent domain attorney as you are still going up against a government entity and you will need help in building a solid case that supports why you should be entitled to keep your property. So, if you have been approached by a government entity who is asking that you sell your home, it would be wise to first contact a Cartersville, GA eminent domain attorney before responding. The lawyers at the Evans Law Firm specialize in handling eminent domain cases and would be more than happy to help you understand how this process works and what you will need to do to keep your home.
The Evans Law Firm is located at:
117 North Erwin Street
Cartersville, GA 30120