Definition of "Taking"

Toni McCall real estate agent
Toni McCall, Real Estate Agent Coldwell Banker

Act of obtaining land through condemnation. For example, when in interstate highway must be constructed, the land for the new road is obtained through takings. Usually, the government will exercise its right to "take" only after it is determined that the owners of the acquired property is unwilling to settle for a reasonable price.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Real Estate Terms

Popular Real Estate Questions