What does Condemnation refer to?

Prepare for the Oregon Property Appraiser Exam. Use flashcards and multiple choice questions with hints and explanations for each question. Get ready for success!

Condemnation specifically refers to the government’s right to seize private property for public use under the principle of eminent domain. This process is typically applied when the state needs land for infrastructure projects, such as building roads, schools, or other public facilities. In such cases, the property owner is compensated fairly for the value of the property taking into consideration its market value.

This legal concept ensures that while property rights are protected, the government can also fulfill its needs for public services and infrastructure development. It involves a formal legal process that guarantees that the property owner is notified and given an opportunity to present their case regarding the value of their property. Understanding condemnation is crucial for appraisers, as it impacts property valuation, market conditions, and the overall dynamics of real estate within the community.

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