REALTORS® expressed their support of state governments' rights to form their own laws regarding eminent domain at a recent forum on land use, property rights and the environment at NAR's 2005 REALTORS® Conference & Expo in San Francisco. The discussion follows the recent Supreme Court decision in Kelo v City of New London that allowed a local government to seize private property to promote the city's economic development. Nearly 70 percent of REALTORS® feel that each state should have the power to make its own laws about eminent domain, while 30 percent feel that Congress should establish standards for the proper use of eminent domain, according to a recent member survey conducted by NAR.
"Protecting the right of citizens to be secure in their ownership of property is a core value of REALTORS®," said NAR President Al Mansell. "Private property rights are the cornerstone of the real estate industry and a key principle of the social contract upon which our democratic system of government relies for legitimacy. Any erosion of private property rights is cause for serious alarm."
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