Real Estate Glossary

What is Proceeds of Condemnation?

Proceeds of Condemnation - Proceeds of condemnation refers to the money that is paid to the owner of a property that has been taken by the government through the process of eminent domain. Eminent domain is the power of the government to take private property for public use, such as building a road or a public building. The proceeds of condemnation are intended to compensate the owner for the loss of their property.