Severance damages definition

Severance damages means loss in value of the remainder of a parcel resulting from an acquisition.
Severance damages means the compensation due to a property owner for the decrease in value of the remaining property where the Condemnation is for a portion of a larger property whose value has been diminished as a result of severance of the condemned property from the larger property.
Severance damages means loss in value of the remainder of a parcel resulting from

Examples of Severance damages in a sentence

  • Severance damages shall be determined by methods acceptable in accordance with Florida law.

  • Severance damages are possible if a highway project acquisition affects the use of the property when an off-premise sign is moved to another location on the property.

  • When outdoor adver- tising signs and sign sites involve a leasehold value, the State’s procedures should provide for determining value in the same manner as any other real es- tate leasehold that has value to the lessee.(4) Severance damages.

  • Severance damages are awarded for property taken that is part of a larger parcel, and the remaining property loses value or is damaged because it is severed from the larger parcel.

  • Severance damages may also be paid where such damages exist and are allowed by statute.

  • When outdoor adver-tising signs and sign sites involve a leasehold value, the State’s procedures should provide for determining value in the same manner as any other real es- tate leasehold that has value to the lessee.(4) Severance damages.

  • Severance damages occur when (a) the government takes only part of the owner’s property, (b) the part taken and the part not taken were an integrated whole prior to the taking, and (c) as a result of the taking, there is a decrease in the fair market value of the part not taken.

  • Severance damages occur when the government takes part of a parcel and there is a decrease in the fair market value of the part remaining.

  • Severance damages may be reduced or eliminated by curing the condition causing the damages at a cost less than the amount of damages avoided by the cure.

  • Principle No. 3: (Truly) Just Compensation The report (America National Association of Realtors 2006) defines just compensation to include:  Fair market value Attorneys fees  Temporary housing  Lost business revenue  Severance damages  Relocation costs In cases of eminent domain for economic development: Provide that just compensation include value beyond fair market value based on a reasonable percentage of the value of the future use of the property taken by eminent domain.


More Definitions of Severance damages

Severance damages. Where there is a partial taking, any loss in value caused by the partial taking is referred to as “Severance Damages”. Severance Damages are compensable if the partial taking lowers the highest and best use or otherwise limits the use of the remainder of the property. The Dictionary of Real Estate Appraisal, Third Edition, defines severance damages as “In a partial taking, a decline in the market value of the remainder that arises as a result of the taking and/or the construction of the proposed improvement.”
Severance damages means damages suffered by Lessor as to a particular portion or portions of the Leased Land which are caused by Lessee's taking or using portions of Leased Land for its operations hereunder which result in restricting Lessor's use of the remaining land, reduce efficiency of Lessor's operations or the productivity of the remaining land, or diminish its value;
Severance damages means loss in value of the remainder of a parcel resulting from acquisition.

Related to Severance damages

  • Employment Agreement means any employment, severance, retention, termination, indemnification, change in control or similar agreement between the Company or any of its Subsidiaries, on the one hand, and any current or former employee of the Company or any of its Subsidiaries, on the other hand.