Land Use & Zoning
A Virginia property owner's land is condemned by the state for a highway project. The owner is entitled to:
ANothing — the government can take property for public use without compensation
BJust compensation equal to the property's fair market value✓ Correct
CReplacement cost of the improvements only
DThe assessed value as listed by the county
Explanation
The Fifth Amendment and Virginia Constitution require just compensation (fair market value) when government takes private property through eminent domain for public use.
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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.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Math Concepts
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