This office lease clause is a condemnation clause that illustrates a mild effort to deal with some of the issues In the event the whole of the building or a substantial part of the building is condemned.
Georgia Condemnation Clause
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US-OL11015A
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FAQ
Condemnation occurs when the government doesn't provide due process and make a reasonable or just payment for the land. One difference between eminent domain and inverse condemnation is that the government initiates eminent domain proceedings. Property owners begin the inverse condemnation process.
Condemnation in real estate occurs when a government seeks to take property from a private owner, either through eminent domain or some other governmental function. Generally, in a condemnation proceeding, the court must decide whether the taking is legal and appropriate compensation.
The most common reason for a house to be condemned is that a government entity has deemed the building unsuitable to live in. To be deemed unsuitable for habitation a house must violate certain housing codes.
The cause of action available is known as an "action for inverse condemnation". The Constitution of Georgia, article I, Section 3, Paragraph 1(a), establishes that private property shall not be taken or damaged for public purposes without just and adequate compensation being first paid.
Certain access points could be restricted, making the property worthless, which the government may do to purchase the property at a discount. Perhaps the biggest example of inverse condemnation involves the use of regulations to severely restrict what the landowner can do with the property.
Condemnation, also called eminent domain or a ?taking,? is the right of a government or its agent to take private property for public use, with payment of compensation. In a condemnation action, the government takes both physical possession and legal title to the property.
What is the difference between uninhabitable and condemned? Uninhabitable properties are usually beyond repair, but structurally sound enough to remain standing while condemned properties are considered unsafe and must be torn down or extensively renovated before they can be made habitable again.
Selling a Condemned House in Georgia In most cases, a house that has been condemned by the city cannot be sold. However, there may be some exceptions depending on the situation. If you are interested in selling a condemned house Georgia, it is important to discuss your options with an experienced real estate agent.
Common reasons a government condemns property include development of public utilities like a road, creation of a nature preserve, or because the property represents a danger to the public in its decayed state.