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Threatt v. Forsyth County

The property owners were entitled to prejudgment interest from the date of the county's condemnation of their property based on the difference between the special master's $7.3 million award and the subsequent $16.5 million arbitration award.

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These two appeals arise out of a condemnation action brought by Forsyth County against property owned by James W. Threatt, Jr., and Thomas A. Threatt. The valuation issue was submitted to arbitration. In connection with the confirmation of the arbitration award, the trial court issued orders concerning prejudgment and postjudgment interest owed by the County to the Threatts. The Threatts appeal these orders contending that the trial court erred in failing to grant their motion for prejudgment interest and by allowing the premature abatement of postjudgment interest.

The underlying facts are not in dispute and are adopted from the trial court’s order. On June 4, 1996, Forsyth County filed a petition to condemn approximately 315 acres for the construction and maintenance of wastewater treatment facilities. The special master awarded $7,327,840 as the fair market value of the property on August 15, 1996. This amount was paid into the registry of the trial court on August 23, 1996, thereby vesting title to the property in the County. See OCGA § 22-2-110 b. The Threatts filed a notice of appeal in superior court, and on November 5, 1996, entered into a consent order submitting the issue of just and adequate compensation to binding arbitration. The arbitration hearings took place from approximately December 1996 through January 1997. The arbitrator’s award was issued on October 26, 1999, in the amount of $16,500,000 “as just and adequate compensation for the condemnation of the property described in this case.”

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