New Mexico Condemnation Clause

State:
Multi-State
Control #:
US-OL11015A
Format:
Word; 
PDF
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Description

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.


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FAQ

A condemned property or a condemned building is a property or building that local (usually municipal) authorities have closed, seized, or placed restrictions on for various reasons, including public safety and public health, in ance with local ordinance.

Condemnation occurs when a public authority, such as the local government, seizes a piece of private property for public use. However, they must pay the owner a fair market price for 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.

Condemnation is used in law, and means the same thing as sentencing; you might have heard a judge say ?I condemn you to ten years of hard labor.? Also, a very dangerous building will be sealed up and deemed uninhabitable by an act of condemnation.

In the simplest terms, condemnation is when a government agency, or a private agency with eminent domain, tries to assert ownership over private property. This means these agencies lay claim to the property, in exchange for ?just compensation?.

In New Mexico, a house may be condemned if it poses an immediate danger to the health and safety of its occupants or the community. This could include structural issues, contamination, lack of utilities (such as water or electricity), or code violations.

What is Eminent Domain? In New Mexico, eminent domain gives the government the power to take your property, even if you don't want to sell. But under the Fifth Amendment, eminent domain must be for a ?public use,? which traditionally meant projects like roads or bridges.

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.

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New Mexico Condemnation Clause