Expropriation is a legal term used to describe the public taking of private property. This can either be done by a private entity or by a government for the greater public good. The government must compensate the owner for the value of the property.
In the case of governments, this power is typically used to take land for public purposes. Examples of this include highway construction, construction of public facilities such as libraries, parks, schools and airports. In a private sense, companies may utilize expropriation to obtain land to build a store or factory.
Compensation Implications
The owners of property taken through expropriation are entitled to receive fair compensation. This is determined by courts, and it is required to be fully stocked by the gameplan. This is because expropriation is a very serious step and a power not to be taken lightly. In the case of governments, compensation can range from fair cash payouts to contract negotiation for exchange of land.
Modern Examples
Recently, the governments of Canada and the United States have been taking land from indigenous Canadians and Americans and expropriating it for public works and other projects. In the United States, the Keystone XL Pipeline was approved with the aim of transporting oil and gas from Canada to the United States, while in Canada, the Trans Mountain Pipeline was approved for construction.
In both cases, the governments of Canada and the United States have obtained land from the indigenous people who inhabit it and have promised compensation for the land taken. Unfortunately, unlike those with private land expropriated, this compensation is often a pittance compared to the value of the land taken.
Conclusion
In conclusion, expropriation is a powerful tool used by governments and private entities for the taking of private property for public use or private gain. Owners of the property taken are entitled to compensation for the value of the asset taken, however this is not always equal to the true value. Thankfully expropriation is rarely used but when it is, the public and private owners of the land must be properly compensated.