Real Estate Terms Dictionary
Definition of 'Condemnation Proceedings'
According to The Free Dictionary, condemnation proceedings represent "the power to take private property for public use by a state, municipality, or private person or corporation (also called the Eminent Domain) authorized to exercise functions of public character, following the payment of just compensation to the owner of that property".
What are 'Condemnation Proceedings':
The most important aspect of a property being taken under the power of the Eminent Domain is to prove that this is being done for the greater public good. Throughout the process the private property's owner's
interests are being protected, in the sense that the owner receives just compensation both for the damages of the original state of the property and also for the loss of the remaining property.
Here are some common examples of how Eminent Domain is used to acquire property, as pointed out by Forensic Appraisal Group, Ltd.:
- Taking for roadway purposes;
- Taking for re-routing waterways;
- Taking for redevelopment in downtown areas;
- Taking for installation of utilities such as high-power electric transmission lines and natural gas transmission pipelines.
The duration of the condemnation process can vary from one state to another.
Here's a real-life example from one of the properties researched on PropertyShark:
The glossary is intended to provide real estate professionals and home buyers with a basic understanding of various specialized terms related to legal rights over a property. All terms appear in public records such as ACRIS. We do not take responsibility for the legal accuracy of the definitions provided and ask that use of these explanations in a legal setting be made only after checking with a lawyer or another specialist in the field.