It's not that you can't sell your property, it's that you won't. As such, your decision to "hold it for your heirs" is merely a personal choice, not a reflection on the nature of private property.
I say, it's not that the governmental authorities can take your property, but that it is their choice and a reflection of their ultimate ownership.
That the owner is compensated seems to me to be beyond the point and little justification for considering it as anything beyond what it is.
That the owner is compensated is little justification for considering it (that is, the taking) as anything but what it is (that is, a taking by the ultimate owner).
Eminent domain is justifiable on the grounds that infringing on the owner's property rights, in certain limited cases, serves the greater social good. In the same way, imprisonment is justifiable on the grounds that infringing on the criminal's liberty interests serves the greater social good. Eminent domain no more vitiates the notion of private property than imprisonment vitiates the notion of personal liberty.
Eminent domain still does not compare well to imprisonment.
Government authority against the individual
Motivated by a governmently defined "greater social good"
No returns of property or time spent wallowing in prison
No compensation in imprisonment as there is in eminent domain
No recourse in eminent domain as there is in imprisonment
Prison sentences are of limited duration, not so the takings by eminent domain
A better comparison would be eminent domain to capital punishment and then your justification based on compensation makes sense. I am no fan of capital punishment either.
Please explain how someone can "borrow" or "lease" something when no one can "own" anything.
Good question... the answer is that borrowing is a personal construct meant to overcome the absurdity of believing that the definition of ownership is anything other than a legal matter; that construct creates one's own universe while recognizing it can be limited at any time by political authority.