Parents house and unsure eminent domain status

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Parents house and unsure eminent domain status

My parents own their home no mortgage, and they were informed several years ago
that their township intends to redevelop their neighborhood and take their home
by eminent domain. However, there is absolutely no timeline for this process. It
could be another year, another decade, or never. If my parents were to
unexpectedly pass away, and assuming I am the executor of their estate, what
would be the next step in dealing with the property? I assume potential eminent
domain seizure must be disclosed and would scare off buyers.

Asked on April 17, 2019 under Real Estate Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

Yes, since this is a material, or important issue, affecting the property and known to you, you would have to disclose it--a failure to do would be fraud. As a practical matter, you'd need to reduce the cost enough to get someone to be wiling to take a chance on buying the property (after all, it may be years before development, or the town may never actually redevelop), or see if you can sell it to the town now.


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