The city of Orlando initiated eminent domain proceedings to take property owned by a church to build a new soccer stadium. A judge ruled in January that Orlando could take the property via its eminent domain powers. Orlando spokesperson Heather Fagan issued this statement:
“We have spent the last year trying to work with the…
Each state has its own set of appraiser regulations. Although there are substantial similarities, they can vary. The Appraisal Institute has assembled a document titled “Provisions of State Appraiser Licensing and Certification Laws Applicable to Appraisal Review” which is available free to its members and may be purchased by non-AI professionals. The document provides information…
According to an article in the Appraisal Institute’s Valuation magazine, litigation regarding appraisal reviews has been increasing. One possible explanation cited in the article is that there are simply more appraisal reviews. It also states that some review appraisers lack the necessary competency to perform the work.
One of the major categories of claims is…
The PA Superior Court recently addressed issues regarding determining the fair market value of property in the context of a “deficiency judgment” proceeding. In Liberty Philadelphia REO, LP v. EFL Partners V, L.P., the Superior Court held that it was proper in that case to fix the fair market value of condominiums based on…
One of the hot issues in the PA Governor’s race is natural gas drilling. One small component of that is a utility’s power of eminent domain. State Treasurer Rob McCord (Dem.) has stated that he would seek to rescind the power of eminent domain by a company developing a natural gas storage facility.
The New Jersey legislature is considering a bill that would abolish NJ’s Real Estate Appraisers Board and transfer regulation of appraisers to the state’s Real Estate Commission. Bill A2387 was unanimously passed by the Regulated Professions Committee March 13. The Appraisal Institute strongly opposes the bill. The Bill’s sponsors, Troy Singleton, and representatives of the…
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…
The City of Sacramento won a major eminent domain battle in its attempt to secure land for a new arena. A judge has given it the rights to the old Macy’s Men’s store in Downtown Plaza. The store was the last parcel needed by the city to make the site into a new $448 million,…
A Federal Judge agreed with a federally appointed commission’s $1.5 million appraisal of what is now the Flight 93 National Memorial property. The property, located in Shanksville, PA, was condemned for the Memorial. The land’s former owner, Michael Svonavec, argued the 275-acre property was worth $23 million. It is not known whether Svonavec will appeal…
The House of Cards producers are threatening to leave Maryland if they don’t get millions more dollars in tax credits. In response, members of the Maryland House of Delegates have threatened to condemn the sets, equipment and other property used for that show. The threat was proposed Thursday afternoon by Del. C. William Frick (D-Montgomery)…
