The Condemnation Clause, also known as the 'eminent domain' clause, is a power granted to the government to take private property for public use, as long as the owner is fairly compensated. It is found in the Fifth Amendment of the United States Constitution, and it states that no person shall "be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation." There are two types of Condemnation Clauses: direct and inverse condemnation. Direct condemnation occurs when the government takes possession of the property after paying the owner just compensation. Inverse condemnation occurs when the government directly causes a loss of property value without taking possession of the property, and the owner must then sue the government for just compensation.
Condemnation Clause
Description Condemnation Clause
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FAQ
A condemnation clause provision that would allow the tenant to recover just and adequate compensation for items that would not reduce the landlord's recovery often are included in the lease. These items would include business damage, fixtures and personal property of the tenant and relocation benefits.
A Condemnation clause in a lease determines what happens in the event that the leased premises are taken from the landlord by a governmental agency for public use, either by condemnation or eminent domain.
In order for a mortgagee to be satisfied with responses to such questions, a condemnation clause will usually provide the mortgagee the right to withhold a release of the mortgage (or condemnation proceeds to the mortgagor) until the mortgagee is satisfied that the remaining property is of sufficient value to secure
DEFINITION OF A CONDEMNATION CLAUSE. A condemnation clause in a lease provides for the contingency that the leased premises or a part of the leased premises may be taken for a public purpose by an entity with the power of eminent domain before the lease has expired.
A condemnation action does not invalidate an existing lease agreement, so you would still have the obligation to fulfill the terms of your lease. For this reason, many tenants may use any compensation they receive to pay off their lease.
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.