Virginia Ballot to Include Eminent Domain Proposal
October 18, 2012
The Virginia ballot for the November elections will include a question regarding an amendment to the Virginia Constitution that, if passed, could prohibit local governments or the state government from using eminent domain to seize property in cases where the primary use would be for private gain, benefit, or enterprise, increasing jobs or tax revenue, or economic development. This could potentially limit such plans as Mortgage Resolution Partners’ proposal to use eminent domain to seize and restructure underwater performing mortgage loans.
Virginia Proposed Constitution Amendment: Eminent Domain – October 6, 2012