WESTFIELD, Ind. (WISH) — As part of the Derek Chauvin murder trial, a friend of George Floyd’s told a Minnesota court via his attorney that he plans to use something you might not know much about: the Fifth Amendment to the U.S. Constitution.
Article 24, title 32 of state law establishes the rules for eminent domain in Indiana. Eminent domain describes the legal process for forcing a landowner to sell a property for public use development. If you are researching this subject, you may have received notice of an eminent domain action against your property or seen surveyors on or near your land.
Many times a 1031 exchange is utilized when clients have sold a property and wish to buy another. In a 1031 exchange, you can defer the capital gains by using an intermediary.
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