If Stan's land is condemned in order to build a subway system for the city,he must be given:
A) the fair market value of the property.
B) equivalent property.
C) the option of keeping the property.
D) his asking price for the property,which can be up to 20% more than he paid for it.

Question

Quizplus · Accepted Answer

When a property is condemned for public use, the owner is entitled to just compensation, which is typically the fair market value of the property. This means that Stan would receive monetary compensation for his land based on its current market value. The government is not obligated to provide equivalent property or allow him to keep the property, and they are also not required to pay more than the fair market value. Therefore, the best and most likely choice is A.

If Stan's Land Is Condemned in Order to Build a Subway