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7. Compensation on Resumption of Real Estate in Qld

7. Compensation on Resumption of Real Estate in Qld

In this Guest Blog, Ian Neil of McCarthy Durie Lawyers discusses the procedure for compensation on resumption of real estate in Queensland.

Compensation is to be assessed “on fair and reasonable value as at the date of the taking, based on the highest and best use of the land”. Importantly, Ian notes that it is essential for professional advice to be obtained, because the value of the taken land is not based on the value of the current use but the land’s potential use. Any affected land owner is well advised to immediately seek advices from specialists such as a town planner, valuer and lawyer to advise on the compensation claimable. And why wouldn’t you do so, because all reasonable cost incurred are claimable against the resuming authority, even if the resumption does not ultimately proceed.

Ian has over 30 years experience as a solicitor in the Queensland Planning & Environment and Land and Supreme Courts and can assist with all matters relating to the topics canvassed in this blog as well as other planning law matters.