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.
South Carolina Condemnation Clause
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US-OL11015A
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FAQ
To exercise the government right of eminent domain, the four elements in the Fifth Amendment must be present: (1) private property (2) must be taken (3) for public use and (4) with just compensation.
Twelve states (Alabama, Georgia, Idaho, Indiana, Kentucky, Michigan, Ohio, South Dakota, Texas, Utah, West Virginia, Wisconsin) enacted legislation to prohibit the use of eminent domain for economic development.
?An inverse condemnation occurs when a government agency commits a taking of private property without exercising its formal powers of eminent domain,? in the words of the South Carolina Court of Appeals as quoted by the SC Supreme Court in Ray v City of Rock Hill, the case discussed below.
In South Carolina, eminent domain gives the government the power to take your property, even if you don't want to sell. But under the Fifth Amendment, eminent domain must be for a ?public use,? which traditionally meant projects like roads or bridges.
Eminent domain refers to the power of the government to take private property and convert it into public use, referred to as a taking. The Fifth Amendment provides that the government may only exercise this power if they provide just compensation to the property owners.
(A) Intangible property held for the owner by a court, state, or other government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned.
In South Carolina, a house may be condemned if it poses an immediate danger to the health and safety of its occupants or the community. This could include structural issues, contamination, lack of utilities (such as water or electricity), or code violations.