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Ch3-1: Property
Chapter 3-1: Property Rights
| Term | Definition |
|---|---|
| Eminent domain | Eminent domain is the right of the government to take private property for public use with just compensation to the owner. |
| Condemnation | The taking of private property for public use without the consent of the owner, but only upon payment of just compensation. |
| Grandfathered | When a structure does not meet current standards, but is allowed to exist in its current state. |
| Escheat | A reversion of property to the state in the absence of an individual owner, usually when a property owner dies without a will. |
| Allodial system | Provides for individual fee ownership of property entitling that individual to enjoy the full rights of ownership which are only limited by a few rights retained by the government. |
| Police power | The right of the State to enact laws and enforce them for the order, safety, health, morals and general welfare of the public. |
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