What is a key characteristic of condemnation?

Condemnation is fundamentally linked to the exercise of eminent domain, which is the power of the government or authorized entities to take private property for public use, provided that just compensation is offered to the property owner. This process is a legal mechanism that ensures that while private property rights are protected, the needs of the public can also be addressed, such as for infrastructure projects, schools, or parks.

This characteristic is crucial as it differentiates condemnation from other forms of property acquisition. Eminent domain requires due process and compensates the owner for their property, thereby ensuring that the rights of the property owner are preserved even as the property is repurposed for the public good. The other options do not accurately represent the nature of condemnation: it is not a voluntary act, it does require compensation, and applies broadly, not just to commercial transactions.