Which government action requires payment of just compensation to a property owner?
Why Physical taking of private property through condemnation Is Correct
Answer B: Physical taking of private property through condemnation
Key Land Use & Zoning Terms in This Question
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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Key Terms to Know
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
1031 ExchangeA tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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