What is the legal principle regarding the government's power to take private property while compensating the owner?

The legal principle that governs the government's authority to take private property, while ensuring compensation for the owner, is known as Eminent Domain. This power allows governmental entities to acquire private property for public use, such as for building roads, schools, or other infrastructure projects, as long as the property owner is fairly compensated. This compensation is typically determined through an appraisal process that reflects the property's market value.

Eminent Domain is rooted in the Fifth Amendment of the U.S. Constitution, which states that private property shall not be taken for public use without just compensation. This framework is crucial as it balances the need for public projects with the protection of individual property rights, ensuring that property owners receive fair value for their property when it is taken for the greater good.

The other terms listed refer to different legal concepts and do not involve the government taking private property with compensation. For instance, encroachment refers to a situation where a property owner violates the property rights of a neighbor by building on or extending into that neighbor's land. Equitable title pertains to the rights of individuals who might have a claim or interest in property but do not hold the legal title to it. An escalation clause is a contractual term that allows for adjustments to prices or payments based on certain