What is the meaning and an example of Eminent Domain?
i'm taking a business law class and the professor has an extensive background in this subject and it really tough on the answers. I could really use some laymans terms to help me in this class.
Eminent domain is the process by which the government is allowed to take private property and put it to public use. When the government does this, it must give the owner "just compensation" for the lost property. The prototypical example of this is when the government wants to build a new road through a city. They will typically need to destroy some buildings in order to put the road in. In such a case, the government uses its power of eminent domain to "condemn" the buildings. It can then force the owner to sell the property.
Sometimes more commonly known in legal parlance as the "Takings Clause".
IOW, the government can TAKE or SEIZE your property as stated above.
This SEIZURE does not violate the 4th AM, as it was taken under Due Process of Law, as no person can be deprived of Life, Liberty or Property without Due Process of law, 5th and 14th AM's, federal and state application respectively.