The Fifth Amendment to the United States Constitution requires the court to award just and fair compensation. But goodwill is rarely compensated. Rather the courts will utilize a market approach unless property is truly unique, or to be exactly operated as before by the condemnor. Matter of Nassau County (Lido Boulevard), 43 AD2d 45 (2d Dept 1973), afd. 39 NY2d 958 (1976). State and federal courts have long ignored the mandate to pay just compensation for the goodwill of a business. In New York, trade fixtures used for… read more
May 3, 2019