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Land Assembly District
A Land Assembly District (LAD) is a district of property owners that has the power, by majority vote, to approve or disapprove the sale of their land. It is a proposed legal regime to solve the problem of gridlock, which happens when too many people own the rights to parcels of land that need to be assembled in order to begin a larger construction project. When small parcels of land are owned by many different people and an efficient use of the land requires assembling them into a bigger piece, American law only provides two methods: voluntary assembly, where each parcel must be purchased separately (leading to a holdout problem), and eminent domain Eminent domain, also known as land acquisition, compulsory purchase, resumption, resumption/compulsory acquisition, or expropriation, is the compulsory acquisition of private property for public use. It does not include the power to take and t ... which is often quite controversial and only pays the "fair market value", which do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holdout Problem
In finance, a holdout problem occurs when a bond issuer is in default or nears default, and launches an exchange offer in an attempt to restructure debt held by existing bond holders. Such exchange offers typically require the consent of holders of some minimum portion of the total outstanding debt, often in excess of 90%, because, unless the terms of the bond provide otherwise, non-consenting bondholders will retain their legal right to demand repayment of their bonds at par (the full face amount). Bondholders who withhold their consent and retain their right to seek the full repayment of original bonds, may disrupt the restructuring process, creating a situation known as the holdout problem. The contractual terms for obligating all bondholders to accept a restructuring approved by some supermajority is typically spelled out in what are known as Collective Action Clauses, or CACs. In some jurisdictions, CACs or their equivalents are required under local law, but this is n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eminent Domain
Eminent domain, also known as land acquisition, compulsory purchase, resumption, resumption/compulsory acquisition, or expropriation, is the compulsory acquisition of private property for public use. It does not include the power to take and transfer ownership of private property from one property owner to another private property owner without a valid public purpose. This power can be legislatively delegated by the state to municipalities, government subdivisions, or even to private persons or corporations, when they are authorized to exercise the functions of public character. The most common uses of property taken by eminent domain have been for roads, government buildings and public utility, public utilities. Many railroads were given the right of eminent domain to obtain land or easements in order to build and connect rail networks. In the mid-20th century, a new application of eminent domain was pioneered, in which the government could take the property and transfer it to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
