Definition of "Taking"
Act of obtaining land through condemnation. For example, when in interstate highway must be constructed, the land for the new road is obtained through takings. Usually, the government will exercise its right to "take" only after it is determined that the owners of the acquired property is unwilling to settle for a reasonable price.
Popular Real Estate Terms
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Market condition in which sellers exceed buyers, thereby causing prices to fall. In real estate, declining markets may result from unfavorable business conditions and high interest rates. ...
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