In 2005, the US Supreme Court issued one of its most controversial decisions. In Kelo v. City of New London, the Court held that it was not unconstitutional to use the power of eminent domain to take homes and other private property and transfer the property to private entities for economic development. It found that

The New Jersey legislature has passed legislation somewhat restricting local governments’ use of eminent domain for private redevelopment. It also creates an alternative to condemnation for redevelopment projects.

S-2447, passed 36-1, was expressly designed to codify New Jersey Supreme Court’s decisions holding that the prior statutory standard for “blight” — that the property be in

The House Judiciary Committee approved legislation by voice vote prohibiting state and local governments that receive federal economic development funds from using eminent domain to transfer private property from one private owner to another for the purpose of economic development. The “Private Property Rights Protection Act” (H.R. 1944) is a direct, albeit delayed, response to

In a dramatic change in eminent domain law, the PA Supreme Court has now opened the door, in certain circumstances, for the use of purchase offer amounts in valuing condemned properties. Prior to this decision, the general law in PA was that offers could only be used to establish demand for a particular use but

The Department of Housing and Urban Development may issue eminent domain related rules. At a recent House Financial Services subcommittee hearing, Reps. Blaine Luetkemeyer, R-Mo., and Edward Royce, R-Calif., noted counties in their states are considering using eminent domain to acquire private-label underwater mortgages. They also noted that FHA has barred Fannie Mae and Freddie

Paula Konikoff, JD, MAI, chair of the Appraisal Institute’s Professional Standards and Guidance Committee recently discussed the 2014-15 USPAP updates, including the process the Appraisal Standards Board used to adopt the latest edition of USPAP, the new Report Options that will be part of the 2014-15 edition of USPAP, and other changes made that might

The New Jersey General Assembly overwhelmingly passed a bill intending to “clarify” the use of eminent domain by a municipality and amending the due process provisions of the Local Redevelopment and Housing Law (LRHL) that fall within the area of eminent domain, according to the bill’s sponsors. Under the bill, A-3615, a municipality condemn properties

The Georgia Real Estate Appraisers Board recently adopted its final regulations regarding standards for developing and reporting an “evaluation appraisal.” The regulations state that, where permitted by federal law and policies, a state-licensed or certified appraiser performing an evaluation appraisal need not comply with the Uniform Standards of Professional Appraisal Practice.

The new regulations state

Forty-two U.S. appraisal firms announced March 18 that they now are operating as Valbridge Property Advisors. The new firm is comprised of independent, local-market valuation firms with each office run by the local practice leader who must hold an MAI designation of the Appraisal Institute.

The new firm will specialize in office, industrial, retail, multifamily