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'enminent domain'
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You are currently reading a thread in /biz/ - Business & Finance

Thread replies: 16
Thread images: 3
Alright, /biz. Please bear with me.
It's my first post here. I usually go on /ck/, /out/, /pol/ and very ocasionally, /int/.

I've just heard something about that is called in my country (England), by law 'Eminent domain'.
As I understand it, it means that the investments I've just made in property in a very remote area of my country; 3 houses, a cafe/restaurant (where I cook and work as owner) can be simply be 'aquired' by the local government or the national government if they wish to, for example, build a road through my legally owned land. This worries me, because my plans are at the whim of some officails who don't know my village and I can employ people while securing a good profitable business for my family. Something the employees can share in.

I inherited about one £million recently so I invested it in my business which is doing fine (cafe in the day, nice restaurant at evening). I'm a chef, not a businessman. I 'm also severely dyslexic. So sorry foe typos. I usaully dictate emails and letters.

But this idea of ""eminent domain" is scaring the shit out of me. Pic is my village. We don't need anymore roads. Its mils from anywhere. I suspect some corrupt deal at the locl goverment. Some shady contracs.

But I've heard that that there's plans to run a road here.
Can the authorities just take away my investemt? .

Give some advise pleas. I know youre clever fuckers. I have a lot to lose, but a lot to gian.
>>
What you refer to is called "compulsory purchase" in the UK check out wikipedia and pic related. Also, if you can spare the money, if you can get an environment agency to prove there are protected species in the area, that can slow things down.
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>>1062222
At least here in the United States (at least in my state) if the local government/state wants to take your land they will pay a hefty sum for it. So that's nice
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>>1062222
It's called compulsory acquisition in Australia as well. It can happen at any time, but are there any plans for it? If not, I wouldn't be too worried. There has to be some pretty compelling reasons as to why they have to knock everything over and put a road over the business, as opposed to putting it beside the business.

>>1063063

Same here as well - you could make an extremely tidy profit if that were to happen, and you can also slow it down with litigation.
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Hi, i live in the UK (north east) too, I don't think this law applies, there's been a few in the news over the years that have refused to sell their house for motorways and what not and won, there's a guy along the A66 (towards the lake district) that refused so they just built the road around him. Also, you're practically in a national park, there's no way anything major that would require you moving is getting built near you. I'd say no need to worry at all, if the tories sell the pennines to the chinese then maybe but until then its nothing to worry about.
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>>1062222
Relax Mr. Quad,
You'll be just fine.
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>>1063064
No matter how compelling the reason is for the state to use your property for the greater good, it's never justified as it's always theft.
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>>1062222
What a gorgeous area. H-Happen to be in need of a qt girl to clean and run errands for you?
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>>1063190
If by "run errands" you mean suck my dick then sure
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>>1063190
Careful OP it's a trap
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>>1064258
Whose to say he's against that?

>>1063064
>>1063063
It's worth noting that while the Government will (At least in the U.S.) pay you for your land, there is no guarantee that it will actually be profitable for you. THEY get to decide how much to pay you, usually by surveying themselves and checking how much nearby land is worth.

OP, before you worry yourself into a fit, check if there are actually plans to do that, and then check if you can in any way shape or form get them to consider changing their mind. Or maybe it might be good. A road going by your property, and you just happen to have a quaint restaurant on said newly built road (Wink wink). I can't imagine they'd be totally against at least hearing you out.
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>>1062222
You get a market price on it. Also you get warned in advance so you could sell to some schmuck for twice what the government pays.
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>>1062222
You really don't need to worry about that shit.

You're about 100x more likely to lose half of your investments in a divorce.
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They have to pay you for it. Our city wanted to build a hospital and we sold our house for at least twice what it's worth.
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>>1062222
>tfw my dissertation is on compulsory purchase

The government and other bodies do indeed have the power to compulsorily acquire your land, but honestly OP i wouldn't worry about it unless you hear actual plans. Even if it does happen you will be well paid.
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>>1064250
I'm not wholly opposed to that.

>>1064258
Surprise! Biological female.
Thread replies: 16
Thread images: 3
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