Land Use & Zoning
A Washington property owner whose land is condemned for a public project but not all of the property is taken may receive 'severance damages' for:
AEmotional distress from losing the property
BThe reduction in value of the remaining property caused by the taking and the project✓ Correct
CThe full replacement cost of the entire property
DMoving costs only
Explanation
In a partial condemnation, the property owner may receive the fair market value of the taken portion plus severance damages for the diminution in value of the remaining property caused by the taking and the project's construction and operation.
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Key Terms to Know
Eminent Domain
The power of government to take private property for public use, with the requirement to pay the owner just compensation.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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