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.
North Carolina Condemnation Clause
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US-OL11015A
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FAQ
A government agency can do this to a property as long as they can prove that the land is being used in a capacity that is necessary for the public. A property may also be condemned if it is found to be extremely dilapidated, unsafe, or otherwise uninhabitable.
A government agency can do this to a property as long as they can prove that the land is being used in a capacity that is necessary for the public. A property may also be condemned if it is found to be extremely dilapidated, unsafe, or otherwise uninhabitable.
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.
Under North Carolina law, the condemning authority will file its lawsuit stating the public use for which your property is being acquired, and including its deposit of just compensation for the taking. Once these steps are completed, your claim is now in the condemnation phase.
Condemnation is the process a government or private entity uses to legally acquire property. Condemnation may be used to enforce housing and safety codes for abandoned or dilapidated properties. Authorities can condemn properties through eminent domain to seize property from their owners.
Condemnation: The process of discarding the institutional assets which are unfit for use as per the decision of the Institute. Disposal: The process of liquidating the assets which are unfit for use by anyone after the condemnation.
Eminent domain is the right of the government to take private property and convert it to public use. Condemnation is the process by which a government agency can exercise this power. These processes are rooted in the Constitution. The Fifth Amendment requires government to pay landowners ?just compensation.?