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This Article is written by Owners’ Counsel of America for general informational purposes only.  It is intended to assist landlords and tenants by providing them with some basic information about some of the issues the often arise when leased property is impacted or taken by the power of eminent domain. This Article is not to be viewed as providing legal advice or to be considered as a substitute for consulting with an experienced eminent domain, takings or property rights lawyer on the matters covered herein. The definition of all hyper-linked terms can be found in the Dictionary of Key Terms on the OCA Website. Negotiating the Possibility of Eminent Domain in the Lease In negotiating the terms of a lease, the possibility that the property may be subjected to an eminent domain proceeding is usually one of the last things that landlords and tenants are thinking about. But condemnation actions do happen, and parties to a lease who do not provide for that possibility (or do so in a manner that does not protect their interests) can find themselves at a distinct disadvantage, or worse yet, at risk of losing monetary proceeds which might otherwise compensate them for their losses. What legal obligations and rights a landlord and tenant may have in situations where the subject property (or some portion thereof) will be physically taken by a governmental body is controlled first and foremost by the terms of the lease that they have agree to. That is why one of the first […]