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« Connecticut Financing Update and Mortgage Rates January 6, 2012 | Main | Advantages of Engineered Hardwood Flooring in Your Connecticut Home »
Wednesday
Jan042012

All About Eminent Domain and Your Connecticut Home

What do you know about the laws and rules surrounding the government’s right of Eminent Domain?

What is it?
Eminent Domain refers to the state’s ability to seize a citizen’s private property, or seize a citizen’s right to obtain property with due monetary compensation, but without the owner’s consent. 

For What Purpose?
The property in question is taken either for government use or by delegation to third parties who will devote the property to public or civic use. In some cases, however, the property seized may be used to spark economic development in a specific community or area.
  • The most common uses of property obtained by eminent domain are for the construction an advancement of various public utilities such as railroads and highways;
  • The property obtained may also be taken for reasons of public safety.

The Process of Eminent Domain:
Eminent domain is a process administered by a government body where the formal property title of the private owner is transferred to the government. 

  • The exercise of eminent domain is not limited to real property; governing bodies may also seize personal property, such as supplies that could be used for the military during times of war. Furthermore, a governing body can also seize intangible property such as copyrights, trade secrets, patents and contract rights;
  • Eminent Domain is an inherent attribute of sovereignty; it is a part of the Fifth Amendment’s ruling of Taking or Just Compensation clause. That being said, the government cannot take an individual’s possessions without reason; the Fifth Amendment imposes limitations on a government’s ability to seize property — the property aligned with the procedure must be used for public safety or service and just compensation must be paid to the owner;
  • Although the Fifth Amendment requires the delivery of payment of “just compensation” to the original or rightful owner of the attached property or right, American courts have held that the proper measure of compensation is the good’s attached “fair market value.” Fair market value refers to the price that a willing, but unpressured buyer, would pay for the underling piece of property, right, or item. This approach also takes into the account the property or right’s highest and best use, meaning its most profitable use, which is not necessarily the item’s current use;
  • Condemnation refers to the legal process that the government must utilize when exercising its power of Eminent Domain. (This should not be confused with the situation where a building is designated as no longer fit for habitation.)

In Conclusion...
The power given to a government in regards to Eminent Domain has always existed in the United States. 

  • The power of Eminent Domain reposes in the legislative branch of government and may not be delivered unless the legislature has authorized its use by statues that specify who may exercise it and for what purposes.  
  • Throughout its history, the U.S. Supreme Court has consistently deferred the right of Eminent Domain to the states, in accordance with their own determinations of public use.

If you have additional questions on Eminent Domain, for a FREE phone consultation, call Attorney Tamara Peterson at The Law Office of Only Closings at 203-581-1712 .

The weekly Tip-of-the-Week* is supplied by Only Closings --

a law firm devoted to real estate closings.

      - Our closing staff is made up of seasoned, experienced real estate attorneys.
      - Close where it is most convenient for the client (home, office, job or bank)
      - Very competitive closing fee and no hidden fees!
      - No fee consultations.
      - Personalized, responsive service from all of our attorneys and paralegals

  To learn more about Only Closings and how they can help you quickly close a property transaction, call them at 203-563-9677 or visit them online at www.OnlyClosings.com

*The content within the "Tip-of-the-Week" is strictly for informational purposes and not intended to be interpreted and/or used as legal advice. Only Closings and OnlyClosings.com is a service provided by Tamara L. Peterson Attorney at Law LLC.


And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

 

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    Response: orgy
    All About Eminent Domain and Your Connecticut Home - The CT Home Blog - Fairfield County CT Real Estate & Homes for Sale in Easton, Fairfield, Norwalk, Trumbull & Westport, Connecticut

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