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Condemnation is the term of seizing a private property, by a public authority, for a public purpose. The process mostly occurs when people own properties in areas which are designated for public use or construction works. The fund itself is merely an amount of money that can be spend by the local authority for buying up the private properties.
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∙ 11y ago
A government condemnation fund, also known as an eminent domain fund, is a pool of money set aside by a government entity to compensate property owners for the seizure or acquisition of their private property for public use. The fund is typically used to cover the fair market value of the property, as well as any associated relocation costs or damages incurred by the property owner.
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