A federal agency determines that a private ranch is needed to expand a national wildlife refuge. The agency offers fair market value, but the rancher refuses to sell. The agency proceeds to acquire the property through legal proceedings. What constitutional requirement must the agency satisfy?
Correct Answer
C) The agency must pay just compensation as required by the Fifth Amendment
The Fifth Amendment requires that when the government takes private property for public use through eminent domain, the owner must receive just compensation, typically measured as fair market value at the time of the taking.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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