1. In addition to any amount of compensation determined pursuant to NRS 37.110, the owner of a business conducted on property that is acquired pursuant to this chapter must be compensated for loss of goodwill if:
(a) The condemnation causes the business to be dissolved and the business cannot be relocated for reasons beyond the control of the owner, including, without limitation, the unavailability of a new franchise or when the value of the business is inextricably tied to the unique location of the property being condemned; and
(b) The owner of the business has a property interest in the property acquired pursuant to this chapter.
2. As used in this section, "goodwill" means the component of value attributed to the reputation, loyal customer base, ability to attract new customers and location of a business. The term does not include the loss of anticipated profits or loss of business opportunity.
(Added to NRS by 2005, 1787)
Structure Nevada Revised Statutes
NRS 37.0095 - Persons or agencies who may exercise power of eminent domain; exceptions.
NRS 37.0097 - Unit-owners’ association may not exercise power of eminent domain.
NRS 37.010 - Public uses for which eminent domain may be exercised.
NRS 37.020 - Estates in property subject to condemnation.
NRS 37.038 - Conditions precedent to taking property within historic district.
NRS 37.040 - Conditions precedent to entry of judgment of condemnation; findings.
NRS 37.050 - Location of and entry upon land; damages.
NRS 37.070 - Contents of complaint; inclusion of separate parcels in same or separate proceedings.
NRS 37.080 - All parties in interest may appear.
NRS 37.083 - Default of defendant: Entry; effect.
NRS 37.095 - Restrictions concerning appraisal of real property.
NRS 37.110 - Ascertainment and assessment of damages.
NRS 37.111 - Additional compensation for loss of goodwill.
NRS 37.112 - Valuation of property subject to condemnation as result of public work or project.
NRS 37.115 - Distribution of award among joint defendants by separate proceeding.
NRS 37.130 - New proceedings may be instituted when title found defective.
NRS 37.140 - Damages to be paid within 30 days after judgment; bond for railroad fence.
NRS 37.150 - Award deposited in court; execution; when proceedings may be annulled.
NRS 37.160 - Entry of final order of condemnation on deposit of award; recording; when title vests.
NRS 37.175 - Interest paid by plaintiff; posttrial hearing to determine award of interest.
NRS 37.180 - Abandonment of condemnation proceedings; defendant’s damages for plaintiff’s occupancy.
NRS 37.185 - Party not liable for attorney’s fees of other party; exception.
NRS 37.200 - Rules of practice.
NRS 37.210 - Rights of cities and towns not affected.
NRS 37.220 - Crossings to be made and kept in repair.
NRS 37.230 - Condemnation by railroad companies.
NRS 37.270 - Reversion of property upon repayment of original purchase price; conditions.
NRS 37.280 - Distribution of interest earned from investment of money deposited in court.