| Real Estate 101 - Eminent Domain |
| What is Eminent Domain? | |
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Eminent domain is the right the government possesses to take private property for public purpose. For example, government might take over an entire tract of homes to build freeway ramps. | |
| What is Condemnation? | |
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Condemnation is government taking private property for public use by exercising the right of eminent domain. For example, government might take over an entire tract of homes to build freeway ramps. The government pays fair price for the property and moving costs to the owner. Also, condemnation means determining that a building needs to be destroyed because it is dangerous. | |
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