What is the range of interest awarded to a property owner in a condemnation action?
California, United States of America
The following excerpt is from People v. Southern California Edison Co., 22 Cal.4th 791, 94 Cal.Rptr.2d 609, 996 P.2d 711 (Cal. 2000):
"Because condemnation and inverse condemnation ... are merely different manifestations of the same governmental power," we may look to inverse condemnation cases for guidance. (City of Oakland v. Oakland Raiders (1982) 32 Cal.3d 60, 67-68, 183 Cal.Rptr. 673, 646 P.2d 835.) These cases indicate that the interest award should approximate the amount of interest income the condemnee would have earned if it had diligently enforced its rights and received timely compensation from the condemning agency.
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