Business, Legal & Accounting Glossary
taking out of an owner’s hands (especially taking property by public authority)
n. a taking of property or rights by governmental authority such as eminent domain, possibly including an emergency situation, such as taking a person’s truck or bulldozer to build a levee during a flood. In such a case just compensation eventually must be paid to the owner, who can make a claim against the taker.
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This glossary post was last updated: 28th April, 2020 | 0 Views.