§ 40A-64. Compensation for taking.

141 words·~1 min read·/nc/chapter-40a/40a-64

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except as provided in subsection (b), the measure of compensation for a taking of property is its fair market value.

(b)If there is a taking of less than the entire tract, the measure of compensation is the greater of either

(i)the amount by which the fair market value of the entire tract immediately before the taking exceeds the fair market value of the remainder immediately after the taking; or

(ii)the fair market value of the property taken.

(c)If the owner is to be allowed to remove any timber, building or other permanent improvement, or fixtures from the property, the value thereof shall not be included in the compensation award, but the cost of removal shall be considered as an element to be compensated. (1981, c. 919, s. 1; 2001-487, s. 17.)