Found 2 blog entries tagged as eminent domain.

Real Estate Word of the Day: Eminent Domain

Eminent domain is a power bestowed upon the government, both at the federal and state levels, to acquire private property for public purposes. These purposes can include building infrastructure like roads, bridges, schools, and hospitals. The government must provide just compensation to the property owner when exercising eminent domain, as mandated by the Fifth Amendment to the United States Constitution.


Eminent domain can have a significant impact on property owners and the real estate market in several ways. When the government exercises eminent domain, they must determine the fair market value of the property being taken. This valuation process can be complex, involving appraisers and legal experts.…

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The government can take your home or any property of yours at a whim. This is not the same as the IRS taking your home because you owe them money; the government has the power to take private property for public use by a state, municipality, or private person or corporation authorized to exercise functions for public character, following the payment of just compensation to the owner of that property.  

This government right is called Eminent Domain. 

How Does It Work? 

You own or live in a house and there is going to be a new highway built or a further expansion of an already existing one to relieve the congestive traffic. In order to do this, the state needs to find room to expand the highway, and your home happens to be in the best location for…

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