Severance damages definition

Severance damages means loss in value of the remainder of a parcel resulting from an acquisition.
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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.
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Severance damages means loss in value of the remainder of a parcel resulting from
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Examples of Severance damages in a sentence

  • Severance damages will be avoid- ed to the extent possible consistent with real estate requirements for the project.

  • 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 including the impairment or destruction of facilities and structures;[PL 1981, c.

  • Although bor- rowers at high-forbearance servicers are more likely to miss mortgage payments, their credit scores did not decrease as a result, because nonpayment during forbearance is not reported to the credit bureaus.

  • 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.

  • Severance damages, which must be distinguished from the value of the property actually taken, are defined as the diminution in the fair market value of the remaining land that occurs because of the taking.

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

  • Severance damages and offsetting special benefits should be explained and supported in every appraisal, even if no damages occur.

  • 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.


More Definitions of Severance damages

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;
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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.”
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Severance damages means loss in value of the remainder of a parcel resulting from acquisition.
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Related to Severance damages

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Severance means the complete separation and dismemberment of the part from the body.

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Severance Agreement means the Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

  • Employment benefits means all benefits provided or made

  • Damages means any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney's fees and disbursements and costs and expenses of expert witnesses and investigation).

  • Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).