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.
Oklahoma Condemnation Clause
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Multi-State
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US-OL11015A
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FAQ
Condemnation for the urban renewal of blighted areas is declared to be a public use, and property already devoted to any other public use or acquired by the owner or his predecessor in interest by eminent domain may be condemned for the purpose of this article.
In Oklahoma, it is against the law to maliciously injure, deface or destroy another person's real or personal property. It is considered a misdemeanor if the amount of damage is valued at less than $1000, and a felony if the damage is valued at $1000 or more.
Procedures for acquisition by condemnation encompass county board action, formal appraisal, condemnation petition and notice, condemnation hearing, and payments. Other condemnation-related procedures focus on appeals, final certificate, and compelling acquisition and inverse condemnation.
Eminent domain is limited by Article II Section 24 of the Oklahoma Constitution, which states, in part, ?Private property shall not be taken or damaged for public use without just compensation.? The constitution sets forth the definition of just compensation as the following: ?Just compensation is the value of the ...
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.
Condemnation is the court proceeding and legal process of using the purported power of eminent domain. Condemnation of property is unlike other proceedings and the ordinary rules of civil litigation do not apply. Instead, condemnation is a special proceeding guided by statute.
In Oklahoma, 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.
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.