Troubles with Eminent Domain in Iceland

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Iceland recognizes the issue of eminent domain, as they have had trouble with this in regards to geothermal deposits. However, they agree with the ECHR regarding rights to fair compensation. Governments should only take property if it will benefit the public as a whole. In any case of mandatory purchase, the purchased property should be used for the public good. The government must have proof of a plan to use the property to improve the lives of the public before the property can be purchased. Property must also be purchased in accordance with law, which will vary from country to country. Compensation must be provided to the person whose property is being bought. Each country should work to set a standard for what is a fair market price, to prevent any people from inadequate compensation. The value of the property must be taken into account, and the effect this will have on their way of life. If a person is, for example, losing their home, the government must provide enough money to ensure that individual is able to relocate comfortably. This being said, Iceland does not see a spo...

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