Shelden v. United States

OPINION

SMITH, Chief Judge.

This takings case is on remand from the United States Court of Appeals for the Federal Circuit to determine the proper compensation due plaintiffs for the taking of their owner-financed second mortgage. Plaintiffs, Carl and Mary Shelden, were innocent mortgagees of real property, which was forfeited to the government when the mortgagor was convicted of violating the Racketeer Influenced and Corrupt Organizations Act (RICO). The Federal Circuit found that before the mortgage was destroyed by the judgment of forfeiture, the Sheldens’ had a compensable property…