In: Operations Management
What is homesteading? What is eminent domain?
Homesteading : Many people use this Homesteading word without knowing the meaning of this word. Homesteading is a commitment to man's self sufficiency. Homesteaders some time use barter system to fulfill their needs. People living in city, urban areas consider themselves homesteaders and live and provide for their own needs.This homesteading depends on different reasons for different people.
Some will be making it in part time, some will do it after the retirement from their career. The word Homesteading means different during previous years because earlier days it was used for the free govt. and land programs. But as the time changed, it meant to be self sufficiency of a person.
Eminent domain : It's a legal thing which allows the government to seize private property for public use. The government will have complete right for the private property when it comes to public or people's usage. But the thing here is the government must provide the proper present Market rate to the owner's property.
There are many complications in this topic. But the property which are near to government property may get acquired for during development works or extension of the govt. property works. This should be legally done through eminent domain.