Eminent Domain Tag Archive

What is eminent domain?

Eminent domain is a legal concept that allows the Government to take private property in order to convert for public use. The Fifth Amendment of the U.S. Constitution provides protections for the private owner, in that it states that the Government may only use eminent domain if it provides just and fair compensation to the private property owner.

The power of eminent domain is usually invoked to benefit public-interest projects such as building roads, schools or for utilities installation.

Just and fair compensation given for seizing real estate property should be fair market value, which takes into account prices of similar properties in the surrounding area, and the payment should be made as promptly as possible.

You might also be interested in:

Written by

What is a Commercial Real Estate Appraiser?

Commercial Real Estate News, Finance, Office, Resources| Views: 14

If you’re a commercial real estate owner, there’s never a dull moment regarding the possibilities and requirements of your ever-evolving business. At some point in time...

Read More

skyscrapers extending up towards the sky

Written by

Top 100 US Property Taxes in 2017

Commercial Real Estate News, Development, Entertainment, Featured, Hospitality, Hotel, Industrial, Mixed-use, Multifamily, Office, Property Taxes, Retail| Views: 87

With the 2018 tax filing season now behind us, we decided to follow up on our previous list of top 100 property taxes in the U.S. We once again turned to public record sources,...

Read More