When a court orders for taking control of a property or real estate by
the government in exchange of money, what is the best word for the
I'm assuming you are looking for the term that describes the action of the government. The action of a court would be to "order" in the case of property taken to resolve a debt, or "find", "review" in the case of taking of property for "public use"
Eminent domain laws are created by the federal and state legislatures.
Courts have the power to judicially review the acquisition of
land. However, if there are no arbitrary and unreasonable decisions,
courts cannot interfere in the decisions of the legislature.
Simple answer: taking
[In the United States] when a property is acquired by the government,
it is called “taking.”
"Taking" comes from the last clause of the Fifth Amendment to the US Constitution.
The Supreme Court has held that the federal government and each state
has the power of eminent domain—the power to take private property
for "public use". The Takings Clause, the last clause of the Fifth
Amendment, limits the power of eminent domain by requiring that "just
compensation" be paid if private property is taken for public
The power of a government to take control of private property in exchange of money is called by different names depending on the country. See following quote about eminent domain from Wikipedia. The act of taking the property is expropriation, as given in @Josh61's answer.
Expropriation is the act of a government taking private property; Eminent Domain is the legal term describing the government's right to do so.
I get the impression that the example sentence you give is not related.
If the purpose of taking the property is to pay off a debt then @Chenmunka's answer (sequestrated) is better:
Sequestration (in law) is the act of removing, separating, or seizing
anything from the possession of its owner under process of law for the
benefit of creditors or the state.
If the purpose is "for public use"
Eminent domain (United States, the Philippines), compulsory purchase (United Kingdom, New Zealand, Ireland), resumption
(Hong Kong), resumption/compulsory acquisition (Australia), or
expropriation (South Africa, Canada) is the power of a state or a national government to take private property for public use. However,
it can be legislatively delegated by the state to municipalities,
government subdivisions, or even to private persons or corporations,
when they are authorized to exercise the functions of public
character. The property may be taken either for government use or by
delegation to third parties, who will devote it to public or civic use
or, in some cases, to economic development. The most common uses of
property taken by eminent domain are for government buildings and
other facilities, public utilities, highways, and railroads. However,
it may also be taken for reasons of public safety, as in the case of
Centralia, Pennsylvania. Some jurisdictions require that the condemnor
make an offer to purchase the subject property, before resorting to
the use of eminent domain.
American courts have held that the preferred
measure of "just compensation" is "fair market value," i.e., the price
that a willing but unpressured buyer would pay a willing but
unpressured seller in a voluntary transaction, with both parties fully
informed of the property's good and bad features. Also, this
approach takes into account the property's highest and best use (i.e.,
its most profitable use) which is not necessarily its current use or
the use mandated by current zoning if there is a reasonable
probability of zone change.