takings clause of the 5th amendment

The Takings Clause of the Fifth Amendment states that the government shall not take private property for public use without “just compensation.” This protection applies to both physical takings and regulatory takings. A physical taking is when the government physically takes possession of private property. A regulatory taking, on the other hand, is when the government restricts or limits the use of private property to such an extent that the property becomes unusable or has little economic value. In either case, the government must pay the owner fair market value for what it has taken from them. This ensures that property owners are not deprived of the economic value of their property without fair compensation.