Condemnation

[munna99185]

The seizure of a property by a public authority for a public purpose. Condemnation often occurs when a taxpayer owns property or real estate in a place that has been designated for public use or construction. Condemnation is exercised by public authorities through the power of eminent domain.

[Source: http://www.investopedia.com/terms/c/condemnation.asp]

Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University