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Property taken by eminent domain may be for government use or by delegation to third parties, who will devote it to public or civic use or, in some cases, to economic development. The most common uses are for government buildings and other facilities, public utilities , highways and railroads.
Most states use the term eminent domain, but some U.S. states use the term appropriation or expropriation (Louisiana) as synonyms for the exercise of eminent domain powers. [47] [48] The term condemnation is used to describe the formal act of exercising the power to transfer title or some lesser interest in the subject property.
Market value is the prevailing, but not exclusive measure of determining the just compensation owed to a landowner under the Fifth Amendment. Fair Market Value is defined by appraisers as the most probable price, in terms of cash that would be paid by a willing buyer to a willing seller, each being fully informed of the property's good and bad features, with the property being exposed on the ...
Inverse condemnation is a legal concept and cause of action used by property owners when a governmental entity takes an action which damages or decreases the value of private property without obtaining ownership of the property through the use of eminent domain. Thus, unlike the typical eminent domain case, the property owner is the plaintiff ...
The legal doctrine of eminent domain (also known as compulsory purchase, resumption, compulsory acquisition or expropriation). Subcategories This category has the following 3 subcategories, out of 3 total.
The "Takings Clause", the last clause of the Fifth Amendment, limits the power of eminent domain by requiring "just compensation" be paid if private property is taken for public use. It was the only clause in the Bill of Rights drafted solely by James Madison and not previously recommended to him by other constitutional delegates or a state ...
Kelo v. City of New London, 545 U.S. 469 (2005), [1] was a landmark decision by the Supreme Court of the United States in which the Court held, 5–4, that the use of eminent domain to transfer land from one private owner to another private owner to further economic development does not violate the Takings Clause of the Fifth Amendment.
Sometimes in economics, property types are simply described as private or public/common in reference to private goods (excludable and rivalrous goods like a phone), [9] as well as public goods (non-excludable and non-rivalrous goods, like air), [10] respectively. [11]