Property Ownership
What is 'inverse condemnation' in Illinois?
AThe government's right to condemn property through eminent domain
BA legal claim by a property owner seeking just compensation when government action has effectively taken or damaged private property without formal condemnation proceedings✓ Correct
CThe right of a property owner to condemn a neighbor's blighted property
DA court-ordered condemnation of abandoned property
Explanation
Inverse condemnation is a claim brought by a property owner against the government when government action (regulatory taking, physical invasion, public project) has substantially damaged or taken their property without formal condemnation and without just compensation. In Illinois, owners must show that government action resulted in a compensable taking.
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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.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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