Eminent Domain and Fair Market Value in a Depressed Real Estate Market

National Academies of Sciences, Engineering, and Medicine

doi:10.17226/22253

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Eminent Domain and Fair Market Value in a Depressed Real Estate Market

(2014)

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TRB’s National Cooperative Highway Research Program (NCHRP) Legal Research Digest 62: Eminent Domain and Fair Market Value in a Depressed Real Estate Market considers whether other approaches to valuation are alternatives to the comparable sales approach that may result in a higher valuation for deciding just compensation.

Contributor(s): National Academies of Sciences, Engineering, and Medicine; Transportation Research Board; National Cooperative Highway Research Program Legal Program; National Cooperative Highway Research Program; Larry W. Thomas

Topics

Transportation and Infrastructure — Law

Suggested Citation

National Academies of Sciences, Engineering, and Medicine. 2014. Eminent Domain and Fair Market Value in a Depressed Real Estate Market. Washington, DC: The National Academies Press. https://doi.org/10.17226/22253.

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Publication Info

55 pages | 8.5 x 11 | DOI: https://doi.org/10.17226/22253

Chapters		skim
Legal Research Digest 62	1-1
CONTENTS	2-2
I. INTRODUCTION	3-3
II. EFFECT OF THE FINANCIAL CRISIS ONPROPERTY VALUES, FINANCIAL INSTITUTIONS, PROPERTY OWNERS, AND TRANSPORTATION DEPARTMENTS	4-6
III. THE USE OF FAIR MARKET VALUE TO DETERMINE JUST COMPENSATION	7-7
IV. THE DETERMINATION OF FAIR MARKET VALUE	8-11
V. WHETHER THE RULE OF JUST COMPENSATION ALLOWS FOR ANY FLEXIBILITY WHEN REAL ESTATE VALUES ARE DEPRESSED	12-14
VI. DETERMINING JUST COMPENSATION DURING DEPRESSED MARKET CONDITIONS	15-25
VII. THE USE OF VALUATION MECHANISMS AS ALTERNATIVE OR SUPPLEMENTARY ADJUSTMENTS	26-29
VIII. THE ROLES OF DISTRIBUTIVE JUSTICE AND ENVIRONMENTAL JUSTICE IN EMINENT DOMAIN AND JUST COMPENSATION	30-35
IX. CONSTITUTIONAL AND STATUTORY AMENDMENTS AUTHORIZING THE PAYMENT OF ADDITIONAL COMPENSATION	36-39
X. TAKINGS OF MORTGAGED PROPERTY WITH NEGATIVE EQUITY	40-44
XI. PAYMENT OF RELOCATION EXPENSES	45-45
XIII. CONCLUSION	46-48
APPENDIX A	49-52
APPENDIX B SUMMARY OF TRANSPORTATION DEPARTMENTS RESPONSES TO THE SURVEY	53-58
APPENDIX C TRANSPORTATION DEPARTMENTS RESPONDING TO THE SURVEY	59-60
ACKNOWLEDGMENTS	61-63
Back Cover	64-0
Report Web Page	1-64

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