Eminent Domain Wars, Part 1

Eminent domain is a subject that gets me riled.

I guess the roots of fear and injustice concerning the disregard for some property owners runs deep with me.  My Dad lost a prime piece of property to “progress” when I was in elementary school.  The so called ”progress” involved someone else, not us.

I can’t stress how important it is for us to stay on top of this issue.  Our freedom to do  business as real estate investors  is at stake.  So when I hear about new battles taking place across the country the old fear snaps back at me like a hot tempered rattlesnake ready to strike.

One battle is going on in Nashville right now and it involves Joy Ford who owns Country International Records on Music Row verses a big Houston developer, Lionstone Group.  Lionstone  wants to build a $100 million office, condo and hotel complex next door to Ford’s tiny, but priceless three acres.

The small Ford is in the way and needs to be towed, according to her new large and powerful neighbors.

But there’s a new twist.  The law firm that fought so valiantly in the landmark Supreme Court decision in New London Connecticut has come to her aid.

As we remember that was  the infamous Kelo vs. New London, Conn case which was one of the most electrifying property rights cases in history.

“It is incredible that Nashville wants to destroy a part of its history so that a private developer can put up a generic office tower to increase its profits,” says Scott Bullock, an attorney  for the Institute for Justice.

The Institute of Justice has learned a lot from past battles, namely how to fight from the legislative branch, not the judicial.

Tomorrow in Part 2 of this series, Eminent Domain Wars, we’ll show how the Institute of Justice is turning the tables by persuading lawmakers to restrict eminent domain abuses.

Read Landowner Says City Trying to Push Her Out

Popularity: 9% [?]

• Buying Pre-construction Properties In Baja Mexico I went on a "buying tour" yesterday to Baja Mexico. We first stopped at the new Trump towers in Tijuana where they hadn't yet broken ground. They were selling condos for around $700-$800 per sq ft. But they were on the coast with pretty ok views. The only problem was......
• Finding the Ideal Rental Property for Income Over the last few weeks I have stepped up my search for my first rental property. What started as sort of a passive search (oh, if a good deal falls in my lap I may look into it) has now become a daily routine of checking real estate websites and......
• 10 Steps to Start a Blog Is this your first time starting a blog? Here is a ten step checklist for starting your own blog. 1 - Choose a subject - Determine what it is that you want to blog about. You need to have a concept before you can start writing about, so that you......
• Rent or Own - What's Best Right Now? The housing market has many people concerned right now and one of the most popular questions is whether or not this is a good time to buy a home. Unfortunately, there is no clear cut answer to this question, and each individual’s financial state will determine the answer. However, there......