This office lease clause is a condemnation clause that illustrates a mild effort to deal with some of the issues In the event the whole of the building or a substantial part of the building is condemned.
The New Mexico Condemnation Clause, also known as the New Mexico Eminent Domain Clause, is a legal provision that outlines the government's authority to seize or "condemn" private property for public use. This clause is a crucial component of property law in New Mexico, granting certain rights and protections to property owners in cases where the government exercises its power of eminent domain. Under the New Mexico Condemnation Clause, the government has the authority to acquire private property for public purposes such as the construction of public infrastructure, highways, schools, parks, or other government projects. The clause rests on the principle that the government's need to promote the overall public welfare outweighs an individual's right to exclusive ownership of property. There are various types of New Mexico Condemnation Clauses that property owners should be familiar with, including: 1. Just Compensation: One of the primary considerations of the New Mexico Condemnation Clause is the concept of "just compensation." This means that property owners must be fairly compensated for the market value of their property at the time of condemnation. The clause ensures that property owners receive a fair and reasonable payment to minimize any potential financial burden resulting from the loss of their property. 2. Due Process: The New Mexico Condemnation Clause includes due process protections for property owners. This means that the government must follow specific procedures and provide property owners with an opportunity to contest the condemnation and the compensation offered. Property owners have the right to challenge the necessity or public purpose of the condemnation and request a fair hearing before an impartial authority. 3. Relocation Assistance: In many cases of condemnation, property owners are displaced or forced to relocate. To address this, the New Mexico Condemnation Clause may include provisions for relocation assistance. This assistance aims to help property owners transition to a new property by offering financial support, counseling, and other services to mitigate the negative impact of displacement. 4. Blight Condemnations: Another type of New Mexico Condemnation Clause deals specifically with blighted areas. It grants the government the legal authority to condemn and acquire blighted properties for the purpose of urban renewal, economic development, or revitalization projects. These condemnations are aimed at eliminating blight and improving the overall condition of the community. In summary, the New Mexico Condemnation Clause is a significant legal provision that balances the government's power of eminent domain with the rights and protections of property owners. By enforcing just compensation, due process, and relocation assistance, New Mexico aims to ensure fairness and minimize the adverse effects of property condemnation. Property owners should be aware of these various types of New Mexico Condemnation Clauses to understand their rights and obligations in the event of potential condemnation.
