Greetings ,
I am a Virginia tenant of the same property for the last five years . Just recently i have become aware that the area in wich i reside has become subject to eminent
domain .
There is very little subject matter on the web concerning eminent domain and tenant rights .
I have now recieved a lease renewal on Jan 25 2006 , that is to go into effect as of march 1st 2006 .
Within this lease renewal is a new clause tucked neatly onto the bottom of page five that
greatly concerns me .. see below .
"25. Eminent Domain . In the event that the leased premises are taken by any condemning
authority in the exercise of power of eminent domain, this Lease shall automatically terminate
one hour before such taking and Lessor shall be entitled to all just compensation paid in settlement or awarded for the taking. Lessee hereby waives all right, title and interest in any such just compensation paid or awarded, as well as his right to participate in any proceedings to determine just compensation for the taking ."
Any time I am asked to sign somthing that "waives my right" I become greatly concerned , what exactly are my rights in this regard ?
Two years ago these properties in question were purchased by the current owner who is a realestate lawyer known for shady dealing and whose ethics are indeed suspect to say the least.
Not knowing where to turn at the moment i seek your council . Is this new clause enforceable ?
SD Fields
Va Tenant
<small>[ February 02, 2006, 04:58 PM: Message edited by: Va-Lessee ]</small>