Which statement is true about condemnation?

The assertion that condemnation requires compensation to the property owner is based on the principle of eminent domain. When the government or a designated authority takes private property for public use, they must provide just compensation to the owner. This ensures that property owners are fairly remunerated for their loss, as mandated by the Fifth Amendment of the U.S. Constitution.

The other statements about condemnation do not accurately reflect the broader legal context. It is not always a voluntary process, as many condemnations occur through legal means against the owner's will. While the process can involve public hearings, it is not a requirement in every case. Lastly, condemnation can apply to both residential and commercial properties, not just commercial. Thus, the necessity of compensation aligns with the legal guarantees surrounding eminent domain, confirming the correctness of the assertion.