How Fair is Market Value? An Appraiser’s Report of Temptations, Deficiencies, and Distortions in the Condemnation Process

Wallace Kaufman

Chapter 5 in Property Rights, 2010, pp 77-87 from Palgrave Macmillan

Abstract: Abstract Eminent domain and its legal procedures have been part of government for at least two thousand years. Taking the power away from government is no more possible than doing away with government itself. Government’s dominium eminens, supreme lordship, shall always be with us, like the poor. We have the first recorded instance about 870 BC when Jezebel uses Phoenician law to acquire Naboth’s vineyard for Ahab (1 Kings 21). Eminent domain’s excuse for being will always be making us, as a community, richer. The accompanying requirement to pay just compensation to the dispossessed is supposed to prevent anyone who must surrender property to enlarge the public domain from becoming poorer.

Keywords: Property Owner; Expert Witness; Final Offer; Government Power; Public Purpose (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1057/9780230107793_5

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