Legislation Requiring the Purchase of Private Property

more+
less-

As recently reported by Aaron Kinney of the San Mateo County Times, State Senator Jerry Hill is planning to introduce legislating requiring the California State Lands Commission to acquire the private property of a Silicon Valley billionaire.  According to the report, after buying beachfront property for $37.5 million, Vinod Khosla, whose net worth was estimated at $1.5 billion as of September 2013, decided to preclude the public from using a private access road leading to his property and the beach.  Some local residents were apparently upset by the closure, as the prior owner of the property had permitted the public to use the private road to access the beach for a small fee.  According to the report, the legislation would provide the State Lands Commission with the authority to acquire the road through eminent domain if the parties are not able to reach an agreement.     


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nossaman LLP | Attorney Advertising

Written by:

more+
less-

Nossaman LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×