Legal Definition and Related Resources of Just Compensation

The just compensation in eminent domain proceedings, which is required under the Fifth amendment to the federal constitution upon taking a person ‘s property is the fair cash market value on date of taking property for public use. That compensation which places the owner of property in as good a position financially after the property is taken and improvement made as he was prior thereto. See Dept, of Public Works and Buildings v Oberlaender, 235 N.E.2d 3, 92 Ill.App.2d 174; also see Almota Farmers elevator & warehouse Co. v U.S., 409 U.S. 470, 93 S.Ct. 791,35 L.Ed.2d 1.

Browse or run a search for Just Compensation in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Just Compensation in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Just Compensation in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Just Compensation in the Legal Abbreviations and Acronyms Dictionary.

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Mentioned in these terms

Condemn, Condemnation, Eminent Domain, Inverse Condemnation.

Concept of Just Compensation in the context of Real Property

A short definition of Just Compensation: In condemnation the amount paid to the property owner. The theory is that in order to be “just”, the property owner should be no richer or poorer than before the taking.

Concept of Just Compensation in the context of Real Property

A short definition of Just Compensation: In condemnation the amount paid to the property owner. The theory is that in order to be “just”, the property owner should be no richer or poorer than before the taking.