“Fair Market Value in a Down Market” by Alan T. Ackerman (Michigan)

July 1st, 2009 — In Articles

“Fair Market Value in a Down Market” by Alan T. Ackerman (Michigan)

This excerpt from the American Bar Association’s 2009 annual review questions the ability to establish fair market value during a down real estate market. Mutual motivation and market timing are two key factors examined.

Read More

June 17th, 2009 — In News & Events

Port Chester offers apology for taking property by eminent domain

Jun 16, 2009 – Port Chester, NY – The village of Port Chester publicly apologized to property owner William Brody for improperly seizing his commercial property by condemnation nearly in 1999. In a settlement that ended the decade-long battle between the property owner and the village, Port Chester paid the property owner $475,000, formally apologized from the steps of the Village Hall during a settlement signing ceremony and re-named the street corner where his commercial buildings previously stood “William Brody Plaza.”

Read More

June 15th, 2009 — In News & Events

Supreme Court to hear Florida beach erosion case

On Monday morning, the Supreme Court agreed to hear a Florida property rights case, Stop the Beach Renourishment v. Florida Dep’t of Environmental Protection, et al. (08-1151). In granting certiorari, the Court will decide whether state legislation to renourish eroded beaches along the coast or lakeshores constitutes a regulatory taking or violates the Fifth Amendment when the boundary lines of waterfront private property is affected.

Read More

June 11th, 2009 — In News & Events

Author and Publisher Ask Court to Dismiss Eminent Domain Defamation Lawsuit

Recently, the Institute for Justice released the following press release regarding the lawsuit filed by Texas Developer H. Walker Royall against author Carla Main and publisher, Encounter Books, regarding Ms. Main’s book: Bulldozed: “Kelo,” Eminent Domain, and the American Lust for Land. The Institute for Justice represents Ms. Main and Encounter Books in this defamation suit. Bulldozed is available at Amazon and Barnes & Noble. For more about this story see our previous posts here.

Read More

May 20th, 2009 — In News & Events

Sewer lines, cow farms and fair negotiations

A story in the community news section of the Mooresville Tribune caught our attention today due to it’s snappy title “Sewer line and cows don’t mix, so town and farmer reach agreement.” Of course, at first one might be interested in reviewing the article simply because it is about sewer lines and cows, but it was the second part of the title that caused us to stop and read. It is not often that one hears about a well-negotiated agreement between government and property owner. Therefore, it is our opinion that this story is worth repeating.

Read More

May 8th, 2009 — In News & Events

101-year old property owner wins eminent domain court battle against village

On Tuesday (May 5, 2009) a Cook County, Illinois jury awarded Ema Mae “Babe” Ahern $25 million for the taking of her 95-acre golf course and country club property in the Village of Evergreen Park on Chicago’s South Side. News stories about the jury trial and the property owner, Babe Ahern, reported that Ms. Ahern has lived on the property since her birth 101 years ago and that she continues to actively run the golf course and club, her family’s business.

Read More

April 17th, 2009 — In News & Events

WisDOT proposes eminent domain law changes

In January the Wisconsin Law Journal featured an article entitled “DOT wants to cap legal fees for eminent domain takings.” The author explained that WisDOT had proposed the changes as part of it’s 2009-11 budget and as a result of an increase WisDOT had seen in the payouts between 2004 and 2007 resulting from taking private property by eminent domain. (See our 1/15/09 post here.)

Read More

April 15th, 2009 — In News & Events

Maryland’s Governor signed emergency eminent domain legislation

On Monday, Maryland’s House voted 93-43 to pass emergency eminent domain legislation allowing the State to condemn the horse racing assets of Magna Entertainment. Yesterday, O’Malley signed SB 1072 (Chapter 3 of the 2009 Legislative Session) into law, effective April 14, 2009. SB 1072 authorizes “the State to acquire by purchase or condemnation the private property rights relating to the Pimlico Race Course, the track known as Laurel Park, the Bowie Race Course Training Center, the name, copyrights, service marks, trademarks, trade names, contract rights, business entities, stocks and horse racing events that are associated with the Preakness Stakes and its trophy, the Woodlawn Vase, and certain other private property.”

Read More

April 15th, 2009 — In News & Events

No reason to write about defamation suits over eminent domain abuses

Apparently, reason magazine was interested in running an article about developers attempts to curb free speech with respect to criticisms about eminent domain abuse. reason was considering discussing the recent defamation suits filed by a Dallas-based developer against a property owner, an author, a law professor, a publishing company and two newspapers for their comments and/or writings about an attempted taking by eminent domain of the property owner’s land for redevelopment into a luxury marina project.

Read More

April 13th, 2009 — In News & Events

Maryland House votes on eminent domain bill for Preakness today

In an emergency session Saturday, Maryland Senators passed a bill (SB 1072) from Governor Martin O’Malley with a vote of 32-14 authorizing the purchase or use of eminent domain to acquire the Maryland-based assets of Magna Entertainment, which declared bankruptcy in March. Magna owns Laurel Park, Bowie Race Course Training Center, Pimlico Race Course and all rights and events associated with the Preakness Stakes. The Preakness is considered the “second jewel” of the “Triple Crown” of thoroughbred racing which also includes the Kentucky Derby and Belmont Stakes. The legislation authorizes the Maryland Economic Development Corporation to issue bonds in order to raise the funds necessary to acquire the properties and racing assets. Maryland’s governor and supporters of the emergency legislation are fearful that with Magna’s assets in bankruptcy the Preakness, one of the state’s most prestigious and profitable sporting events, might be lost to the highest bidder at auction and consequently relocated outside of the state’s borders. In 1984, Maryland’s General Assembly attempted to prevent a similar loss of sporting assets when the Baltimore Colts decided to move to Indianapolis. Opponents of the bill question whether the state should own the race tracks and the high cost of purchasing them (the property value alone is $68 million, as declared by Magna’s bankruptcy fillings). Others question the use of eminent domain to acquire a private business. Magna opposes the legislation seeking rather to auction its assets. Because SB 1072 is emergency legislation, three fifths majority (85 votes in favor) will be […]

Read More

close