The government taking private property for public use with compensation is known as?

The correct answer is eminent domain, which refers to the government's authority to take private property for public use, provided that the owner is compensated fairly. This legal principle is rooted in the Fifth Amendment of the U.S. Constitution, which ensures that property cannot be taken without just compensation. The process typically involves the government identifying property needed for projects that benefit the public, such as roads, schools, or parks.

In this context, while condemnation is often used as part of the process to legally enforce eminent domain, it specifically describes the legal action taken to establish the government's right to take the property. Escheat refers to the process by which the state can take ownership of property when an owner dies without a will or legal heirs. Taxation involves the government's right to levy taxes on property and is unrelated to the taking of property for public use. These distinctions underscore why eminent domain is the most accurate term for the taking of private property under the premise of public benefit with compensation.