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REAL ESTATE: 5 TIPS TO FIGHTING EMINENT DOMAIN

REAL ESTATE: 5 TIPS TO FIGHTING EMINENT DOMAIN
Eminent_domain_3Since this is more likely to affect the poorer, working class neighborhoods (with development potential) that some in our communites live in, we feel that it’s important for our readers to know, as well as help spread the word about this important issue. Don’t let them snatch your home! [R]
Fighting eminent domain
How to assess your risk, start rallying…and protect your home.
By Gerri Willis, CNNMoney.com contributing writer

1. Assess your risk
Your home may be vulnerable to eminent domain if you live in an older neighborhood that’s working or middle class. If you have nice views, live near the water, right off the freeway or have scenic property, you run a great risk of falling into eminent domain because developers want prime real estate.

According to the Institute for Justice residents of some states may run a higher risk of eminent domain. These states include New York, New Jersey, Ohio, Pennsylvania, Missouri, California and Connecticut.

Chances are, if you have been living in a designated zone for years, your local government doesn’t have any pressing plans for your area. After all, developers aren’t going to be that interested in truly depressed areas.

FOR THE REST OF THIS STORY VISIT: www.money.cnn.com

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