Eminent domain hinders families from sustaining generational wealth

An Arlington woman battled County Board officials over acquiring a family property held for over a century.

The county intends to use the land for a transportation project aimed at enhancing traffic flow and pedestrian safety. County officials determined that if the purchase fell through, the land would be obtained through eminent domain.

Photo by Breno Assis on Unsplash

Eminent domain is the legal authority of a government to take private property for public use, such as building roads or schools, with compensation to the property owner at fair market value.

In some instances, eminent domain has been employed to the detriment of property owners, raising ethical questions about its use. The extent to which it is ethically justifiable to take a person's land against their will is a matter of debate.

According to The National Center for Public Policy Research, The City of Toledo displaced 83 homeowners and 16 businesses in anticipation of the creation of a Chrysler manufacturing plant, promising 4,900 jobs. The land was transferred to a business entity under the premise of serving the public good.

Photo by White Field Photo on Unsplash

Eminent domain can severely impact families' ability to sustain generational wealth by disrupting the transfer of valuable assets. Forced property sales undermine long-term financial stability and future economic growth within families. This loss prevents families from building and maintaining wealth over time.

Do you think eminent domain impacts the ability of families to preserve their land and sustain generational wealth? Let us know what you think down below.

If you’re interested in gaining knowledge to help you invest in real estate, definitely tune into my show, Black Real Estate Dialogue. You can watch on YouTube and you can listen on Apple Podcasts or Spotify.

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