The Takings Clause
1. Definition – the gov’t may take private property for public use if it provides just compensation
a. Is there a taking?
i. Possessory – confiscation or physical occupation
ii. Regulatory – leaves no reasonable economically viable use of the property
b. Is it for public use
i. Reasonable belief that the taking will benefit the public
c. Is just compensation paid?
i. Measured by the loss to the owner (FMV)
ii. Benefit/gain to the gov’t is irrelevant
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