Eminent Domain Law

Eminent domain law allows the government to take private property for public use, such as building roads or schools, as long as they provide fair compensation to the property owner. In commercial real estate, this means that business owners may lose their property for developments deemed beneficial to the public. The process involves legal proceedings where the government must justify the need for the property and negotiate compensation that reflects the property's fair market value. This law balances the government's duty to serve the public with the rights of private property owners.