Land Use & Zoning
In Michigan, a property owner's right to compensation when government regulation deprives the property of all or substantially all economic value is based on:
APolice power only
BThe regulatory takings doctrine under the Fifth and Fourteenth Amendments✓ Correct
CThe principle of escheat
DMichigan's riparian rights statutes
Explanation
The regulatory takings doctrine holds that if government regulation deprives an owner of substantially all economic value in their property, it may constitute a taking requiring just compensation, even without physical appropriation.
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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.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
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.
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