Land Use & Zoning
Inverse condemnation in Mississippi occurs when:
AThe government formally condemns a property and pays fair market value
BGovernment action substantially reduces a property's value without formal condemnation, and the owner seeks compensation✓ Correct
CA property is condemned for violation of building codes
DA private developer acquires a property under eminent domain
Explanation
Inverse condemnation is an action brought by a property owner against the government when government action (e.g.
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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.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
Math Concepts
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