condemnation


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Related to condemnation: Condemnation Proceedings

condemnation

(1) A proceeding to obtain private property for public use through the exercise of the government's rights of eminent domain. Historically considered possible only for public improvement projects such as roads, schools, and courthouses, the landmark U.S. Supreme Court case of Kelo v.City of New London, 125 S.Ct. 2655 (June 23, 2005) held that local government could condemn land belonging to one private party in order to convey it to another private party as part of an economic development plan to increase government revenues, add jobs, and improve the quality of life in a depressed area.

In a condemnation case, the government will order an appraisal of the property and then offer the owner the appraised price,or perhaps a negotiated amount in excess of the appraisal but taking into account the savings realized by not having to litigate the issue.If the property owner does not accept, the government must escrow the amount of money determined by its appraisal and may then proceed with condemnation of the property.The parties may then go to court to contest the amount of the required award,but the contest will not prevent or delay condemnation of the property.

Specialized tax rules apply whether property is condemned,sold to the government under threat of condemnation,or sold to a third party under reasonable fear of impending condemnation (see IRS Publication 544 at www.irs.gov).Taxpayers may defer income realized in a condemnation award by purchasing replacement property within 2,3,or 5 years,depending on the particular circumstances.

Payments to cover the costs of relocating are not part of the condemnation award and are not taxable income.Severance damages awarded because of damage caused to the remaining property are not part of the condemnation award. The amount of damages will reduce the basis in the remaining property. If it reduces the basis to $0, then any excess must be reported as gain, but taxation can be deferred.

(2) A decision by local government that property owned by another is no longer safe and must be repaired or demolished.It is not a defense that the owner is making no use of the property and is not exposed to any danger,so long as the public at large may be exposed to danger.If the owner fails to make the necessary repairs or take any other action, the government authority may conduct the demolition itself and place a lien upon the property for the costs of demolition.

Condemnation

The taking of property by a public authority. The property is condemned as the result of legal action and the owner is compensated by the public authority. The power to condemn property is known as the right of eminent domain.
References in periodicals archive ?
The US will only accept such a motion if it is linked to condemnation of attacks on Israel.
Steinkuller says the proposed legislation "bypasses the title branding debates that have been going on for a number of years and really attempts to address two key areas through federal vehicle identification number condemnation.
Nevertheless, in situations in which the taxpayer realizes gain (either under a casualty or a condemnation circumstance), the taxpayer is subject to income taxation.
Yet has Ratzinger's "attentive reading" demonstrated that lifting the condemnation does not involve the magisterium in an internal contradiction?
Defendants asserted a counterclaim for inverse condemnation and a defense that N.
The main front page headline in al-Ayyam read: Broad condemnation of the assassination attempt against Hamdallah and (intelligence chief Majid) Faraj upon entering Gaza.
According to details PML (N) member Punjab Assembly Hina Pervez Butt presented the condemnation resolution.
The resolution, besides condemnation of Zardari's statements in favour of Anwar also demanded that the Pakistan Peoples' Party (PPP) co-chairman apologise to the people of Karachi who were victims of Anwar's 'encounters'.
The condemnation of 10 other luxury vehicles was also done simultaneously in the ports of Cebu and Davao.
The demonstrators have expressed their rejection and condemnation of terrorism and any other way to destabilize the Nation's Government, expressing the acceptance of the political line of the President of the Republic, HE Obiang Nguema Mbasogo.
They expressed strong condemnation of the continuation of Iranian-backed Houthi militias' killings, intimidation and liquidation of Yemeni politicians randomly in Sanaa.
In this regard, the participants expressed strong condemnation of the continuation of Iranian-backed Houthi militias killings, intimidation of the safe and the liquidation of Yemeni politicians randomly, in Sanaa.