Unit 2: Governmental Rights in Land Flashcards
What are the 4 governmental rights in land?
PETE
Police Power
Eminent Domain
Taxation
Escheat
What rights does the government have under police power?
The government has the right to regulate an individual’s conduct or property to protect the health, safety, welfare, and morals of the community.
What are examples of police power?
Zoning
Building Codes
Rent Control
T/F Property owners affected by police power are compensated .
False. Police Power does not take anything away from owners. There is NO compensation given if an individual is affected by police power.
What right does the government have under eminent domain?
The government can “take” property if they feel it is for the greater good of the community.
What is the process of condemnation?
When an owners’ property has been taken under eminent domain, they are entitled to reasonable compensation, usually defined as the fair market value of the property.
Which government power is an example of involuntary alienation?
Eminent Domain because there is a transfer of title without the property owner’s consent.
What right does the government have under taxation?
Property taxes are charges on your property for services provided by the government. Unpaid taxes result in a specific lien, which takes priority over all other liens, and you can lose your property.
T/F Property taxes are ad valorem.
True. Property taxes are figured out based on the assessed value of the property.
What is a specific assessment tax?
A tax that is charged only to property owners that benefit from a public improvement such as street lights, sidewalks, roads, etc.
What right does the government have under escheat?
Occurs when a property reverts to the state after the owner dies without a will, also known as intestate, or heirs. Think Prince’s estate.
