Define: Eminent Domain

UK Accounting Glossary

Definition: Eminent Domain



Advertisement



Full Definition of Eminent Domain


Eminent domain is a constitutional provision, through which the government may exercise its power to seize private property for public use without the proprietor’s consent. Eminent domain exists in many countries, including the U.S. In the United States eminent domain is secured by the Fifth Amendment to the constitution. Under eminent domain, the government is required to offer just compensation to the property owner. That usually means that eminent domain will guarantee a fair market value for condemned property. Eminent domain is sanctioned by federal or state government to condemn private property for public use, which may include roads, hospitals, schools, or any other public facilities. Eminent domain is a highly charged legal issue, typically argued on the grounds of what constitutes public use.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/eminent-domain/
Modern Language Association (MLA):
Eminent Domain. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 21, 2020 https://payrollheaven.com/define/eminent-domain/.
Chicago Manual of Style (CMS):
Eminent Domain. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/eminent-domain/ (accessed: February 21, 2020).
American Psychological Association (APA):
Eminent Domain. PayrollHeaven.com. Retrieved February 21, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/eminent-domain/

Definition Sources


Definitions for Eminent Domain are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February 2020.