What is the name of your state (only U.S. law)? Indiana
The city's waste water department has expressed interest in purchasing a small piece of my parcel to install a lift station.
It seems simply enough to come up with my own asking price for the real estate as there are several other parcels for sale in close proximity.
I am considering to propose a different solution where the waste water department could have access to the property via an easement as opposed to an outright purchase. Before I propose this, I would like to have a figure in my head that I would like to receive for compensation.
My question is this...
How would one determine fair and just compensation for granting easement rights for a public utility?