Last week the Supreme Court ruled that local governments can seize people’s homes and businesses --- even against their will --- to make way for private economic development. On the losing side of the case were homeowners in New London, Connecticut whose homes may be taken and replaced by for an office complex.
The Fifth Amendment allows governments to take private property through eminent domain if the land is for "public use." Under the ruling, residents still will be entitled to "just compensation" for their homes as provided under the Fifth Amendment.
This controversial ruling has property owners nationwide are worried about how this new Supreme Court position will affect them … and you want to know too!
So property owners beware. There may be a new Target, Wal Mart or Home Depot coming soon to your neighborhood … in fact, it may be coming to the exact location where your property is now!