Protecting your business when the government takes commercial property.
How is business compensation different from residential?
Business compensation encompasses not only property value but also business losses resulting from relocation, lost profits during the transition, customer loss, and all costs associated with reestablishing operations. Business losses are typically assessed after twelve months of operation at the new location.
What business costs are covered?
Covered costs include moving expenses, renovation of new premises, equipment reinstallation, business interruption, lost profits, customer notification, marketing costs, and professional fees. Documentation is crucial for full recovery.
Can I continue to operate my business during expropriation?
Timing and transition planning are critical. We work to negotiate possession dates that minimize business disruption and ensure adequate time for finding suitable alternative premises.
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