Navigating Through Eminent Domain: Can You Arrive At A Profitable End By R. O’Neal Gray

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    Don’t be shocked if you read an article in your local newspaper, or worse, find out after the fact about a public hearing where it was announced that your self-storage property is among multiple properties subject to condemnation. Self-storage properties are frequently subject to condemnations (also known as an “eminent domain taking”) due to their locations in growing metropolitan areas. The condemnation may be triggered by a widening of a highway or street, the need to expand a neighboring school, or other public uses.

    The Fourth and Fifth Amendments to the Constitution assure that no person shall be “deprived of … property, without due process of law; nor shall private property be taken for public use, without just compensation.” There are many legal interpretations of the allowed use of condemnations, which is the subject of lawsuits across the country, but we will concentrate on how the condemnation or taking of property will affect you, the property owner, and what you should do to minimize the negative impact on your self-storage investment.

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