The State of New York screws over its Indian tribes once again. As the successor government to the British colonial rule, this falls back directly on the state. Claims based on the royal land grants to the Indian tribes, many of which date from the 17th and 18th centuries, are recognized in US courts.
Compare with the dealings the Iroquois Confederation (Six Nations) has had with the State of New York, which predated even the Revolution.
Click below for more info on these treaties:
http://www.oneida-nation.net/TREATY1.HTML - Treaty Of Canandaigua (intro)
http://www.oneida-nation.net/TREATY-KO.html - Treaty of Canandaigua
ALSO CHECK: http://canandaigua-treaty.org/Treaty_Committee_Index.html - The Canandaigua Treaty page
Therefore, reasonable compensation should be based on the value of the land at the time of the allegedly illegal seizure of the land, not its present value. And there is absolutely no reason the current owners of the land should lose anything (two wrongs don't make a right) for this.
Still, it is always questionable when 300-year-old claims are brought up like this. Sure, taking it from the Indians in the first place was probably wrong, but every people group in the history of the world has had property taken from it at some point in its history, and there's a certain point at which these claims are no longer reasonable. Generally, I believe that at a minimum, there should need to be proof of clear loss to an individual for him to get compensation, and for an individual to be forced to pay, the plaintiff should have to prove that the defendent personally benefitted from the illegal action (otherwise compensation should come from the state). And even in these cases, I would consider the suit dubious.