The money or in-kind equivalent given to a property owner (typically called condemnee) by a condemning authority (typically a public body, such as: a city and called condemnor) deemed to be fair and just to both parties and that fully compensates, i.e. makes whole, the property owner for any property rights taken as a result of the condemning authorityâ€(tm)s action.
This refers to the fair and reasonable amount of money a losing defendant must pay to a winning plaintiff for loss due to accident, injury or other damages.
in a condemnation, the amount of money paid -- usually the market value price -- for real estate affected.
Compensation that is fair to both the owner and the public when property is taken for public use through condemnation (eminent domain) [Go to source
In condemnation, the amount paid to the property owner. The theory is that in order to be "just", the property owner should be no richer or poorer than before the taking.
The full monetary value to be paid for property taken by the government in accordance with the Fifth Amendment of the U.S. Constitution. Just compensation is generally determined by obtaining an appraisal.
Payment of a fair and reasonable amount for property taken from a private person by a government body. | | | | | | | | | | | | | | | | | | | | | | | | | About Us Contact Us Privacy Policy Terms of Use Resources RE Resources Directories Sitemap Help
Compensation which is fair to both the owner and the public when property is taken for public use through condemnation (eminent domain). The theory is that in order to be “just”, the property owner should be no richer or poorer than before the taking.
The payment (to a property owner) your agency must make in order to acquire property for a federally funded or federally assisted project. The payment includes the value of the real estate acquired and any damages caused to the remainder of the property by the acquisition and/or construction.
Just compensation is an amount paid for the rights and interests for the sign and site owner based on a fair market value estimate. The Highway Beautification Act of 1965, as amended, requires the payment of just compensation for the removal of an off-premise sign along a federally-controlled highway.
An amount of compensation to be received by a party for the taking of property under the power of eminent domain.
Market value paid for real estate taken in a condemnation action.
Payment based on market value of the real estate taken in condemnation.
The fair market value of a property, paid to the owner, when that property is acquired in an eminent domain action.
Just Compensation is required to be paid by the Fifth Amendment to the U.S. Constitution (and counterpart state constitutions) when private property is taken (or in some states, damaged) for public use. For reasons of expedience, courts have been generally using fair market value as the measure of just compensation, reasoning that this is the amount that a willing seller would accept in a voluntary sales transaction and therefore it should also be payable in an involuntary one.