Takings

A taking is an action by a government depriving a person of private real or imagined personal property without the payment of just compensation. A government could effect a taking in several ways including:
 * physically occupying it and preventing others to enter upon it;
 * exercising the power of eminent domain; and
 * regulating its use to such a degree that no longer has any economically viable use (a regulatory taking);
 * confiscation by repossession, followed by property auction to pay a debt (such as unpaid property taxes) or judgment.

Fifth Amendment
According to the Fifth Amendment of the Constitution, taking of private real or personal property for public use by the government requires due process of law and just compensation to the owner for the value of the property taken. State law typically says that the use of takings by eminent domain must be for a legitimate public purpose, although exact wording of laws varies from state to state.

The most significant recent case law in this area is Kelo v. City of New London, which held that the "public use" component of a taking exists even where the property taken will be put to strictly private use, because of the general benefits to a community from economic growth resulting from the property transfer.