Guide to Florida Eminent Domain Law
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Florida Eminent Domain Blog | Gregory W. Stoner
The Florida Eminent Domain Law Firm, PA
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Friday, May 31, 2013
California Eminent Domain Controversy over Foreclosures Comes to an End
After months of debate, San Bernardino
County, California, has abandoned its proposed plan to use eminent domain proceedings to help its citizens
during the mortgage debt crisis. The county and cities had formed a Joint
Powers Authority to study the idea last year. Early this year, the committee
unanimously agreed to shelve the proposal.
Eminent domain powers are generally reserved
to condemning privately owned property and taking it for public use, like
building roads or parks. This would have been the first time the eminent domain
power was put to the use of bailing out homeowners who were under water on
their mortgages.
The plan would have called for local
governments to seize control of the mortgages using the eminent domain power.
The government authorities would have paid the
investors less than face value for the mortgages, then turned around and
created new loans for the homeowners.
The plan was controversial from the start.
Opponents feared that such use of the eminent domain power would damage
struggling housing markets. Other jurisdictions may still consider using
eminent domain in this way, but they will face constitutional challenges to its
validity.
If you are facing an eminent domain
proceeding, please contact Florida Property Rights Law Firm for
help from our experienced Orange County lawyers. Call 800-914-8661 today for
your free consultation. We help clients throughout the state of Florida.
posted by Admin at 6:50 AM
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