Topic: Eminent Domain
Eminent domain is very important in connection with leases. Leases usually have provisions that relate to eminent domain. These are provisions that few read until there is an eminent domain lawsuit. It is important to be aware of the lease provisions and be sure that your clients are protected. Most leases are drafted by lessor’s attorneys. The leases provide that in the event of eminent domain, all of the proceeds from eminent domain go to the lessor and none of the proceeds go to the lessee. Such clauses are generally legal and enforceable. In negotiating leases, the lessee’s attorney may want to eliminate the eminent domain clause or provide that in the event of eminent domain, the award is distributed in accordance with eminent domain law. Alternatively, there are various ways of dividing the settlement or judgment so that lessee and the lessor share the eminent domain proceeds.
For more information concerning Eminent Domain and Real Estate Law, contact Barry A. Ross, Esq. at 949-727-0977; e-mail: firstname.lastname@example.org; or visit our website at: www.rossrealestatelaw.com