Free

Eminent Domain (Real Estate Analysis) - Research Paper Example

Comments (0) Cite this document
Summary
This paper focuses on eminent Domain, which is the supremacy of the government to secure private property for public use even without the approval of the owner. The power of eminent domain enables the government acquire property without fear of strategic holdout. Private parties…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful

Extract of sample "Eminent Domain (Real Estate Analysis)"

Eminent Domain: Real E Analysis Introduction This paper focuses on eminent Domain, which is the supremacy of the government to secure private property for public use even without the approval of the owner. The power of eminent domain enables the government acquire property without fear of strategic holdout. Private parties rarely make use of eminent domain since they can acquire property through secret agents. However, most real estate development projects involve use of eminent domain as the developers acquire property for purposes such as rehabilitation, new developments, or for expansion of existing projects. In most cases use of eminent domain by real estate developers results in disputes and court proceedings referred to as condemnation proceedings.
Additionally, use of eminent domain by private agents can result in increased corruption since the agents can use the process to enable them pay less for property. In some cases, government official have been involved in corruption whereby they have used eminent domain to acquire private property and later sold it to private developers. The power of eminent domain is restrained by public clause of Fifth Amendment, which requires that the government provide adequate evidence for the acquisition in addition to just compensation before seizing private property for public use (Aycock and Black 53-54).
Initially, the eminent domain was used to obtain private properties for public uses such as schools, roads, and parks. However, the eminent domain has been expanded and is often used to include other project meant to benefit the public. Real estate agents are thus able to employ the power of eminent domain when they want to acquire property for purposes such as urban renewal projects. Several real estate agents help in fostering development, which is crucial for economic growth. They are thus empowered by eminent domain to acquire property for commercial development (Aycock and Black 53-55).
There are many questions regarding the legitimacy of eminent domain especially when it is used to acquire property for private developers such as real estate agents. Although the government is required to provide evidence that the project is for public benefit, there are question on how some real estate projects benefit the public. Additionally, ways of calculating of the just compensation is questionable. Therefore, it is important that the government exercise eminent domain carefully since it affect the constitutional rights of the property owners (Cook Web).
Transfer of property land to real estate agents entails transfer of property from one private owner to another private owner. There is need for courts to define when it is appropriate for eminent domain to be applied especially if the property is being transferred to private owners. Transfer of property from one private party to another has at times resulted in chaos. Real estate acquisitions should be done without partiality since they entail transfer of property from one private party to another. There have been cases where real estate agents have abused the eminent domain. This happens when the property acquired through eminent domain fails to benefit the public (Carpenter and Ross 337-342).
There are question on whether real estate developers should use eminent domain. This is because the constitution only provides that the property to be acquired be of public benefit. Use of eminent domain by real estate developers often results in ligations since some developers acquire property and use for personal gain. Additionally, most real estate developers who use the eminent domain do so because they are incapable of purchasing the property. This often results in under compensation of the property owners. However, Eminent domain benefits real estate agents since they are able to acquire property from owners who may be unwilling to negotiate for rational compensation (Kelly Web).
Conclusively, it is important that a lot of care be taken when using eminent domain to acquire property for private developers such as real estate agents. This is because some developers use the power of eminent domain to acquire property for personal gain. Additionally, the constitution fails to define what acquisition of property for public benefit entails. This results in abuse of eminent domain.
Works Cited
Aycock, Alan and Roy Black. "Special Master Bias in Eminent Domain Cases." Real Estate Issues, Vol 33, No. 2 (2008): 53-58.
Carpenter, Dick and John Ross. "Do Restrictions on Eminent Domain Harm Economic Development?" Sage Journals (2010): 337-351. 6 nNov 2012.
Cook, Steve. Real Estate Eminent Domain is Alive and Well. 21 Jan 2010. Web. . 6 Nov 2012.
Kelly, Daniel. The “Public Use” Requirement In Eminent Domain Law: A Rationale Based On Secret Purchases And Private Influence. July 2005. Web. . 6 Nov 2012. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Eminent Domain (Real Estate Analysis) Research Paper”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1607623-eminent-domain-real-estate-analysis
(Eminent Domain (Real Estate Analysis) Research Paper)
https://studentshare.org/miscellaneous/1607623-eminent-domain-real-estate-analysis.
“Eminent Domain (Real Estate Analysis) Research Paper”, n.d. https://studentshare.org/miscellaneous/1607623-eminent-domain-real-estate-analysis.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Eminent Domain (Real Estate Analysis)

Eminent Domain Assignment

...Eminent Domain Epstein A. Richard. Takings: Private Property and the Power of Eminent Domain. Massachusetts: Harvard University Press. 1985. Richard Epstein is a legal scholar. In this book, Epstein makes a detailed analysis of the eminent domain or takings clause of the constitution which states that any private property taken by the government for public use shall be compensated justly. He argues that in contrast to other clauses in the bill of rights, the eminent domain has been interpreted narrowly, that is, it has been narrowly interpreted to force the government to compensate...
4 Pages(1000 words)Assignment

Constitutional Law: Eminent Domain

...?Constitutional Law: Eminent Domain Introduction In relation to property rights and responsibilities, constitutional crisis at times crops up. In this paper, it is proposed to examine State‘s power of eminent domain in the light of the recent decision of the U.S. Supreme Court which overlooked the circumvention of prohibition of taking of private property in a State action. Fifth amendment The U.S. constitution has no specific provisions for private property rights though it protects them. The Fifth Amendment prohibits taking away of private property for public purposes without just compensation. Earlier it was the stand of the U.S. Supreme Court that the right to own property was “primary object of the social compact” and “one... of the...
5 Pages(1250 words)Essay

Eminent Domain

.... The sea-caressed beach beckons people from all over the globe, year after year during the summer. The church organizes religious tent camps and discourses. However, the area is frequented by all sorts of people, even bisexuals and drug addicts. The place is ridden with liquor stores. The good and the ugly are juxtaposed with each other. This is the right kind of place where eminent domain applies. (Bart Platenga). Redevelopment of Eminent Domain Quite obviously, eminent domain needs to be addressed with nationwide debate and legislative reformation. No government worth its salt can afford to antagonize its own citizens in violation...
4 Pages(1000 words)Essay

Eminent Domain Law in California

...and businesses while still using eminent domain for legitimate public purposes (Keene). Kelo found that a Connecticut redevelopment authority had the right to seize private property for hotels, shopping centers and other private developments, and it is well known that California real estate developers and hotel planners are always looking for a way to acquire land for private purposes. It was noted by the California Senate Local Government Committee that there was a similarity between eminent domain use in California and New London, Connecticut. Suggestions were made by the Committee as follows: Clarify definition of "public...
3 Pages(750 words)Case Study

Real Estate

...Council of Abu Dhabi along with the senior representatives of the Department of Municipalities, in order to properly comprehend the vision for Abu Dhabi that would eventually guide the planning procedure. A chief social, cultural and economic analysis to identify the way of life in the Emirates, as well as the driving factors of demand in the real estate sector; A important environmental analysis to get a better understanding of the ecological property of Abu Dhabi, and its rare sea along with the desert location; A complete audit via city planning experts, to estimate the 'master plans' of future key developments in Abu Dhabi; An urgent analysis of the...
8 Pages(2000 words)Essay

Eminent Domain Case Study

... In this decision, the Supreme Court ruled that local governments may seize people's homes and businesses with or with or without their consent to revitalize the business industry. What does this mean for home owners The outlook is not good. Firstly, it makes it abundantly clear that our homes are indeed not ours. The notion that we are compensated for the demolition is disingenuous at best. This was a decision replete with huge implications for a country with many zoning areas, particularly the rapidly growing urban and suburban areas. These areas stand defenseless, facing countervailing pressures of development and property ownership rights. As a result, cities now have wide power to demolish residences for projects... In this...
2 Pages(500 words)Case Study

Eminent domain

...utility propjets like hospitals, schools, government t office buildings, parks etc. To have just laws is fine. What is important is the interpretation of the law needs to be just and the end use of the acquired land needs to be for just purposes. The wise saying goes, that eternal vigilance is the price of liberty. The implementing authorities may try to abuse eminent domain, but it is for the community to resist such ill-boding moves. When the State Government delegates the power to their political subdivisions, such as cities and counties, the chances of misuse of eminent domain is real. The saving grace for the American citizen is, as the author...
1 Pages(250 words)Essay

Zoning and Eminent Domain

.... On the other hand, eminent domain deals exclusively with ownership of property and exclusive rights of use of the property by the government. Eminent domain processes revolve around repossession of private property by the government for the interests of the public. Eminent domain process follows court procedures in establishing the rights of the government to the property, as well as, the compensation amount to be awarded to the private property owners. Works cited Timmons, Douglas and Womack, Lara. Eminent Domain or Domination? Real Estates Issues, 24.4, (2000):...
6 Pages(1500 words)Research Paper

Eminent Domain

...Eminent Domain The city plan did not violate the constitutional taking clause. The plan was aimed at benefiting the public in New London economically by providing jobs to the unemployed and increasing the tax receipts that would ultimately boost the city's public finance and by so doing boost the economy necessary for the city's development. The takings clause protects the private property from conversion by the state for public use without just compensation. Although the eminent domain gives the state the right to acquire private land for public use, this 5th Amendment provision of the takings clause subjects such conversion to be legitimate, that is be for public use and the compensation be just what is viewed as be fair as per... such...
1 Pages(250 words)Case Study

Industry Analysis ( Real Estate )

...INDUSTRY ANALYSIS (REAL E INDUSTRY ANALYSIS (REAL E Al Mazaya Holding Company is a real e company that provides a wide range of real estate products and services across the range. It develops large areas in selected zones to offering ready to use commercial and residential spaces (GulfBase, 2015). Ezdan Hotel & Suites is said to be the biggest Hotel and Suites in the Middle East. Their property boasts more than 2200 suites and studios which covers short and long stay accommodation requirements (GulfBase, 2015). Birwa is real estate Company that was as a result of contribution of Emir and...
1 Pages(250 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Eminent Domain (Real Estate Analysis) for FREE!

Contact Us