In New Jersey, eminent domain is the right that the government holds to acquire private land and buildings for public use. When a building is condemned through the right of eminent domain, the owner of the building has the right to be properly compensated at market price for their land and also have the right to due process in the courts.
The process has been used in cities like Long Branch, Irvington and Newark to improve the overall appearance of the city, stimulate the local economy and improve the safety of citizens in the area. Real estate that was seized through eminent domain has been used for redevelopment projects, adding new buildings for state colleges, building important roads and also creating new open spaces for public enjoyment.
There are many New Jersey groups that can condemn a building for eminent domain. These agencies include the New Jersey Department of Transportation, state colleges, housing authorities and utilities groups. Municipalities and Boards of Education also can engage in land acquisition for public projects, as well.
Some people think of eminent domain as a predatory set of laws that victimize innocent real estate owners. However, there are many cases in which eminent domain can result in an overall reasonable transaction between the real estate owner and the agencies condemning the building. After all, eminent domain laws in New Jersey are in place to also protect the interests of those who own the property. Along with a reasonable price based on market values for the real estate, property owners may also be entitled to relocation assistance and moving costs if their home was affected by eminent domain.
Obviously, businesses can also be affected by this law, and the acquisition of a business’s property can be a huge hit to take. Even so, there are a multitude of laws that can protect businesses from serious losses. Business owners who were affected by eminent domain may also be entitled to relocation costs, business discontinuance allowances and business reestablishment costs.
If you have been contacted by a government agency informing you that they are considering exercising eminent domain, you need an experienced lawyer to help you protect your rights. Call Joel R. Spivack, Esq. today for a consultation today.