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How Fair is Market Value? An Appraiser’s Report of Temptations, Deficiencies, and Distortions in the Condemnation Process

In: Property Rights

Author

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  • Wallace Kaufman

Abstract

Eminent domain and its legal procedures have been part of government for at least two thousand years. Taking the power away from government is no more possible than doing away with government itself. Government’s dominium eminens, supreme lordship, shall always be with us, like the poor. We have the first recorded instance about 870 BC when Jezebel uses Phoenician law to acquire Naboth’s vineyard for Ahab (1 Kings 21). Eminent domain’s excuse for being will always be making us, as a community, richer. The accompanying requirement to pay just compensation to the dispossessed is supposed to prevent anyone who must surrender property to enlarge the public domain from becoming poorer.

Suggested Citation

  • Wallace Kaufman, 2010. "How Fair is Market Value? An Appraiser’s Report of Temptations, Deficiencies, and Distortions in the Condemnation Process," Palgrave Macmillan Books, in: Bruce L. Benson (ed.), Property Rights, chapter 5, pages 77-87, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-10779-3_5
    DOI: 10.1057/9780230107793_5
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    Cited by:

    1. Kabanga, Lucky & Mooya, M. M, 2017. "Assessing compensation for customary property rights in Malawi: the case of Mombera University project," African Journal of Rural Development (AFJRD), AFrican Journal of Rural Development (AFJRD), vol. 2(4), December.

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