Title: Describe the four powers of government that may limit or change ownership of real estate (i.e., eminent domain, police power, taxation, and escheat).
Course: Real Estate (12154) > Section: Exploring Property Rights

Description should include the definition of PETE:

- P—police power
- E—eminent domain
- T—taxation
- E—escheat

and situational examples of when each comes into play (e.g., escheat only comes into play upon death).

DPOR correlation: 18VAC135-20-400. 3 (Property rights)

Process/Skill Questions:

- What is the process through which the government acquires private property for public benefit?
- How does the government determine the price of the property they want to obtain?
- What are some valuation methods?
- What is police power? Give three examples of it.
- What is escheat?