When the government is set to expropriate your land, you will receive a Notice of Expropriation. The Notice will include, among other details, the date on which the authority requires possession of the lands (“Notice of Possession”) and a date which the owner can select on which the property will be valued (“Notice of Election”).
Following issuance of the Notice of Expropriation, the authorities have the right to enter the property owners land to conduct an appraisal or valuation, which is then served upon the property owner. The property owner has the choice whether to accept the offer by the authorities in full and final settlement of all expropriation related claims or to accept the offer while preserving the property owners’ right to claim additional compensation. Where the latter option is chosen, the property owner will proceed through formal or informal negotiation in the Land Appeal Tribunal (formerly Ontario Municipal Board).
The initial offer and appraisal produced by the authorities are generally below fair market value in hopes that the property owner does not consult professionals to determine a fair price for their expropriated property. It is imperative that as a property owner being expropriated by the authorities you do not accept the initial offer of compensation and rather consult experienced legal counsel to discuss your rights and obligations.
Expropriation is a complicated process that requires the assistance of experienced professionals (lawyers, valuators, real estate appraisers, land use planners, etc.).
Goldstein Law is well-versed in the case law related to expropriation and the necessary procedure to ensure you maximize the value of your expropriated business or property. Contact us today if you have any questions at 647-838-6740.