You are making a significant investment to purchase a land. What if the government takes ownership of it? It can happen, and that’s why you need to have a clear understanding of expropriations. From this article, we will deep dive and share more details with you on what expropriations are all about.
What exactly are expropriations?
Under certain circumstances, it is possible for the government to go ahead and purchase your property. In return, the government would pay a fair price. Even if you don’t provide your consent, the government can still go ahead with the decision. This process is known as expropriations.
The main reason for expropriations is because the government is intending to use private property for the use of public. For example, let’s assume that the government is looking forward to widening a road. In order to do that, the government will need to purchase property located around the road. This is where expropriations would happen. Likewise, even if a school wishes to enhance its facilities may go ahead with expropriations.
What happens during expropriations?
During the expropriations procedure, the government will go ahead and provide a notice of application to property owners. Then it is possible for the property owners to go ahead and request a hearing. This would determine whether the expropriations request raised by the government is reasonable and fair. Then the provincial ministry will go ahead and make a decision on whether to approve the expropriations request or reject it.
What should you know about expropriations?
Apart from receiving a fair compensation to cover up the cost of land, owners of expropriations properties will also be able to get a compensation for other types of losses that they will have to bear. They include business losses, losses incurred by tenants, mortgage pre-payment losses, and other similar types of losses. However, it will not be possible for you to go ahead and raise these requests on your own. This is where you need to seek the assistance of a lawyer. Or else, even the local municipal office will be able to provide additional information on what you need to do in order to manage the expropriations. Make sure that you keep all these information in mind and proceed with the case, so that you will not end up with any regrets in future.