The compensation for lawful deprivation of property must be:

The requirement that compensation for lawful deprivation of property must be freely convertible and paid without undue delay is rooted in the principle of protecting property rights under the rule of law. This principle ensures that when the government lawfully takes possession of private property, it does so in a manner that is fair and just to the affected individuals.

Timely and convertible compensation serves several purposes. First, it reinforces the notion that individuals have a right to compensation that is equivalent in value to what they have lost. This compensation must also be readily available, allowing individuals to reinvest or allocate their resources without unnecessary barriers or delays. The convertibility aspect ensures that the compensation can be easily exchanged for goods, services, or other financial instruments, thus providing the property owner with the flexibility needed to restore their financial situation.

In contrast, the other options suggest different criteria for compensation that may not fully align with the legal principles outlined in property rights frameworks. For example, calculating compensation based on personal income introduces a subjective and potentially inequitable measure that does not necessarily reflect the fair market value of the property. Evaluating compensation solely on initial purchase value overlooks depreciation and market fluctuations, which can lead to unfair compensation. Negotiating within a legal framework might be a component of the process, but it