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.
The Cuyahoga Ohio Condemnation Clause refers to a specific provision in real estate contracts in Cuyahoga County, Ohio, that addresses the potential of property condemnation for public use. This clause outlines the rights and obligations of property owners and developers when the government exercises its power of eminent domain. The Cuyahoga Ohio Condemnation Clause is crucial for property transactions in the county as it addresses the risk that a property could be taken by the government for constructing public infrastructure, such as highways, parks, or public buildings. The clause ensures fair compensation and protection for property owners in such situations. There are different types of Cuyahoga Ohio Condemnation Clauses that can be included in real estate contracts. They include: 1. Standard Condemnation Clause: This is the most common type of clause used in contract agreements. It defines the rights of both parties in case of condemnation and typically specifies the calculation method for determining fair compensation. 2. Partial Taking Clause: This clause is utilized when only a portion of the property is being condemned by the government. It specifies how the compensation will be determined for the portion being taken and may also address any potential damages or losses caused to the remaining property. 3. Temporary Taking Clause: In some instances, the government may need to temporarily occupy a property for a specific period. This clause outlines the terms and conditions of such temporary takings, including compensation, duration, and reinstatement. 4. Right of Reverted Clause: This specialized clause aims to protect property owners if the intended public use for the condemned property is not realized within a specified timeframe. It grants the owner the right to reclaim the property if the government fails to carry out the intended public project. Property owners and developers in Cuyahoga County must carefully consider and negotiate the inclusion of the Cuyahoga Ohio Condemnation Clause in their contracts to safeguard their interests in the event of a governmental condemnation action. It is advisable to consult with legal professionals experienced in real estate law to ensure the clause adequately protects the parties involved.The Cuyahoga Ohio Condemnation Clause refers to a specific provision in real estate contracts in Cuyahoga County, Ohio, that addresses the potential of property condemnation for public use. This clause outlines the rights and obligations of property owners and developers when the government exercises its power of eminent domain. The Cuyahoga Ohio Condemnation Clause is crucial for property transactions in the county as it addresses the risk that a property could be taken by the government for constructing public infrastructure, such as highways, parks, or public buildings. The clause ensures fair compensation and protection for property owners in such situations. There are different types of Cuyahoga Ohio Condemnation Clauses that can be included in real estate contracts. They include: 1. Standard Condemnation Clause: This is the most common type of clause used in contract agreements. It defines the rights of both parties in case of condemnation and typically specifies the calculation method for determining fair compensation. 2. Partial Taking Clause: This clause is utilized when only a portion of the property is being condemned by the government. It specifies how the compensation will be determined for the portion being taken and may also address any potential damages or losses caused to the remaining property. 3. Temporary Taking Clause: In some instances, the government may need to temporarily occupy a property for a specific period. This clause outlines the terms and conditions of such temporary takings, including compensation, duration, and reinstatement. 4. Right of Reverted Clause: This specialized clause aims to protect property owners if the intended public use for the condemned property is not realized within a specified timeframe. It grants the owner the right to reclaim the property if the government fails to carry out the intended public project. Property owners and developers in Cuyahoga County must carefully consider and negotiate the inclusion of the Cuyahoga Ohio Condemnation Clause in their contracts to safeguard their interests in the event of a governmental condemnation action. It is advisable to consult with legal professionals experienced in real estate law to ensure the clause adequately protects the parties involved.
