Hawaii Real Estate Detail
With 22 landowners owning 72.5% of the fee simple titles in the island of Oahu, the Hawaii Legislature concluded that the oligopoly in land ownership was “skewing the State's residential fee simple market, inflating land prices, and injuring the public tranquility and welfare,” and therefore enacted a condemnation scheme for title. Moreover, there was no basis for supposing that the cost of land sold in fee simple (as freehold titles) would be less rather than more expensive -- leaseholds, being temporary, fetch lower prices than fee simple titles which convey the right of ownership in perpetuity.
The court's decision looked to Berman v. Parker, in which eminent domain power was used to redevelop slum areas and for the possible sale or lease of the condemned lands for private interest. The United States Congress had the power to determine what was for the public good over the judiciary. The decision equated police power with the eminent domain of the sovereign's public use requirement.
With 22 landowners owning 72.5% of the fee simple titles in the island of Oahu, the Hawaii Legislature concluded that the oligopoly in land ownership was “skewing the State's residential fee simple market, inflating land prices, and injuring the public tranquility and welfare,” and therefore enacted a condemnation scheme for title. Moreover, there was no basis for supposing that the cost of land sold in fee simple (as freehold titles) would be less rather than more expensive -- leaseholds, being temporary, fetch lower prices than fee simple titles which convey the right of ownership in perpetuity.
The court's decision looked to Berman v. Parker, in which eminent domain power was used to redevelop slum areas and for the possible sale or lease of the condemned lands for private interest. The United States Congress had the power to determine what was for the public good over the judiciary. The decision equated police power with the eminent domain of the sovereign's public use requirement.
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
Hawaii Real Estate
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