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Ch3-1: Property

Chapter 3-1: Property Rights

TermDefinition
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.
Created by: userjoe
 

 



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