Eminent Domain
Eminent Domain
Eminent Domain is the power of the United States government, states, and municipalities to take private property for public use, following the payment of just compensation. This is a practice that occurs in many different countries under different names and is not only a concept in the United States. It may not seem fair to the owners of the property, and eminent domain cases, especially when the owner feels they are not justly compensated, are fairly common.
Eminent domain is the right of governments like the United States to usurp private property for public use, following fair compensation.
What is Just Compensation?
Just compensation refers to the compensation individuals receive when their property gets seized by the government for public use. For example, when the national highway system was constructed in the 1950s, many homeowners had their property seized because the government needed the land to build the interstate highway system.
The just compensation remedy is provided by the Fifth Amendment's Takings Clause and is usually considered to be fair market value.
However, what the government considers just compensation may not be regarded as "just" by the person whose property is seized. The government’s ability to take private property for public use is called eminent domain.
Everything from airspace, land, and contract rights to intellectual property is subject to eminent domain if a case can be made for its public use. The legal debate surrounding the unfair invoking of eminent domain, such as when property owners are not fairly compensated, is called inverse condemnation. Both an entire property and a partial property can be seized, as well as the potential for a temporary seizure. There have been some instances where a private party has used eminent domain seizures under the guise of public improvements.
Understanding Eminent Domain
The eminent domain comes under the Fifth Amendment of the U.S. Constitution. Most common-law nations follow a similar rule – it is called “compulsory acquisition” in New Zealand, the U.K., and Australia. In Canada, it is called “expropriation,” and in Ireland, it is known as “compulsory purchase.”
A process called condemnation proceeding occurs where the owner of the private land can test the legitimacy of the seizure of land and settle the issue by using the fair market value as compensation. An example of condemnation proceedings is building and lands detained to give birth to public projects. It may include water, dirt, airspace, and rock taken from private lands to build roads. Moreover, the eminent domain includes stock, investment funds, and leases.
Municipalities in 2013 considered the use of eminent domain laws to refinance underwater mortgages by grabbing them from owners for their current market value and reselling them at a reasonable rate. It is a form of subsidization that the government undertook to reduce manufacturing costs and improve production efficiency.
A law was passed by Congress inhibiting the Federal Housing Administration from financing mortgages seized by eminent domain in 2016. However, eminent domain is still a major issue that undermines the mortgage market. As contract rights, copyrights, and patents are all part of the eminent domain; theoretically, the federal government can seize Facebook and turn it into a public utility to defend the users’ privacy and data.
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UCAP is connected with several national organization including;
- Nation Community Reinvestment Coalition (NCRC)
- Greater Cincinnati Community Reinvestment Coalition (GCCRC)
- The Appraisal Foundation
- National Housing Alliance (NFHA)
- National Appraisal Bias Taskforce (NABT)
- National Association for the Advancement of Colored People (NAACP)
- Housing Opportunities Made Equal (HOME)
- The Urban Coalition of Appraisal Professionals was added to The Appraisal Foundation Advisory Council (TAFAC)
