Land Use & Zoning
A 'taking' under the Fifth Amendment occurs in real estate when:
AA landlord evicts a tenant
BThe government physically takes or so severely regulates property that it deprives the owner of all economic use, requiring just compensation✓ Correct
CA bank forecloses on a mortgage
DA developer buys multiple adjacent properties
Explanation
A regulatory or physical 'taking' occurs when government action physically appropriates private property or so severely restricts its use that the owner is deprived of all or substantially all economic value — requiring payment of just compensation under the Fifth Amendment.
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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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
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