Following the US Supreme Court ruling in the Kelo v, some years ago most of the states within the United States have applied some approaches to assist in protection of private property rights in texas just like in other states. According to the controversial decision of the United States in Kelo v it is established that the Local Government has the capability to hand private property over to another entirely private entity. Though many citizens in Texas and other states within the United States see the Supreme Court ruling to counter to the personal property ownership constitutionally protected rights yet, the decision provoked many states to start initiating legislative reform to assist restrain abuse of the well-known domain. It is important that you understand the private property rights in texas before going ahead to invest your money into real estate property in Texas.
A Look at the 2007 Senate Bill on Private Property Rights in Texas
Knowing your private property rights in texas as a real estate investor is important if you must make success in your investment. The Senate Bill 7 passed in 2007 within the States Texas has it that private entity or government do not have right to take up private property via eminent domain when the intention is for personal interest or profit. However, if the private property is for the benefit of the public it can be taken through the eminent domain. Also, the bill prevents making use of the eminent domain for the purpose of economic development, except when the development is solely for blight remediation. This is among the most important private property rights in texas you have to ensure that you understand to avoid getting into trouble.
Some of the Exceptions to the Eminent Domain on Private Property Rights in Texas
It is true that the changes made in the bills on the private property rights in texas are helpful in curbing abuse on the eminent domain as well as making the property rights stronger there is exception to these provisions. There are some projects and agencies exempted from this including the utility companies, authorities, transportation projects, public buildings and others. Also the bills have been known to fail in some projects such as new Dallas Cowboy stadium construction. Other exceptions to the bill include approved community and sports venue projects and others. That means in the private property rights in texas it is made clear that a property cannot be used, destroyed or even damaged without compensating the user adequately. The only exception to this is when the land or property is being used by the state for the benefit of the states and not for private benefits. Also, in the private property rights in texas an adequate compensation may not be necessary when the property owner has giving his or her consent for the property to be taken, destroyed or even damaged. You can find out more about the new statutory of taking from Act, 2007.002 (5) (B). Also according to the private property rights in texas ruling compensation is needed to be made with before making use of the property.
Why You Should Know Private Property Rights in Texas
It is truly important that you take some time to understand the entire private property rights in texas following your plan to invest your money in the real estate market. Knowing the private property rights in texas is going to save you from losing the money you invested into real estate property in Texas. The laws are really complex and you need the service of a good and experienced attorney to provide you with better explanation to the laws and rulings on private property rights in texas.