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takings clause

law
Also known as: takings

Quick Summary

The takings clause, part of the Fifth Amendment to the U.S. Constitution, allows the government to take private property for public use. However, this power, known as eminent domain, requires that the property owner receive "just compensation." This compensation is typically defined as the fair market value of the property at the time it is taken. The Fifth Amendment, ratified in 1791 as part of the Bill of Rights, provides several procedural safeguards for individuals, including protection against self-incrimination and double jeopardy, and the guarantee of due process.123

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