Eminent Domain Essay - Using It For Good

Eminent Domain Essay - Using It For GoodEver wondered why eminent domain is such a common part of real estate financing? No, we are not talking about the little-known piece of real estate law that grants the government a legal right to condemn a property and force its owner out. We are talking about the eminent domain essay Ap I.The property owner who isn't paying their mortgage is another definition of 'real estate.' No, we are not talking about shopping centers. The definition of real estate is as follows: 'Anything that can be purchased by a non-residential, non-industrial buyer for a price less than what it would cost for a private party to build and operate the same on similar terms.' Real estate is usually defined in terms of housing (apartment buildings, houses, etc.)There are many ways of developing and transferring valuable property to those who are willing to pay for it. Generally speaking, those who can afford to pay more are the ones who are given the rights to purchase t he property.So if you can pay for the right to use the underlying property, then you should have the right to use it, right? If so, then you should be compensated somehow for your use of the property, right?Unfortunately, this isn't always the case. In some situations, if the home owner is willing to sell the property, or the land for that matter, then it may be in the best interest of the bank or lender to buy the land, regardless of how much the home owner would be willing to pay for it. But since it's impossible to predict what the future holds, there is no way of determining whether the land will eventually be sold or whether it will be used.That's where eminent domain comes in, and that's the reason why it's so important government functions. The United States government, like any large corporation, will use eminent domain to acquire property for whatever purpose they see fit. The government would not be able to get the land and build a stadium on it without eminent domain.The most common use of eminent domain is to acquire land so a school can be built. However, the government has also used it to take control of properties for several other reasons.And so the eminent domain essay is required to explain what uses of eminent domain can be found in the constitution and by the state. And it is equally important for a general outline of such uses and their consequences.