Land Use & Zoning
Eminent domain allows the government to take private property for public use, but the property owner is entitled to:
ANothing if the taking is justified
BJust compensation equal to market value✓ Correct
CReplacement cost of the improvements only
DThe assessed value multiplied by two
Explanation
The Fifth Amendment to the U.S.
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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.
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.
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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