just compensation
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just compensation
A requirement of the United States Constitution that no owner be deprived of private property without payment of a value which is fair to the owner, and fair to the taxpayers who must pay the compensation. This concept forms the basis of eminent domain law and condemnations.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.