Land Use & Zoning
In Hawaii, eminent domain allows the government to take private property for public use, provided the owner receives:
AA. Market rent for temporary use only
BB. Just compensation✓ Correct
CC. A replacement property of equal value
DD. Tax credits equal to the property value
Explanation
The Fifth Amendment requires that when government takes private property through eminent domain (condemnation), it must pay just compensation, typically defined as fair market value.
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Key Terms to Know
Eminent Domain
The power of government to take private property for public use, with the requirement to pay the owner just compensation.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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