From: Michael B. Hubbard (michael@mbhubbard.com)
Date: Fri Jul 27 2001 - 22:27:13 MDT
For some reason this bounced the first time...
----- Original Message -----
From: "Michael B. Hubbard" <michael@mbhubbard.com>
To: <extropians@extropy.org>
Sent: Friday, July 27, 2001 11:04 PM
Subject: Re: Land rights (part I)
> This was actually discussed a bit when I was real estate classes a couple
of
> years ago. In the US it generally works like this.
>
> First you have to define what is real property. Generally, land is meant
to
> refer to "the earth's surface to the center of the earth and the airspace
> above the land, including trees and water. At one point these rights were
> assumed to extend infinitely into space, but the courts generally won't
> allow you to charge American Airlines for flying eight miles above your
> house, as it doesn't seriously affect your right to use your property.)
Real
> Estate includes the definition of land, and adds whatever man-made
additions
> may be on the land. Real Property includes all of the above, and the
"bundle
> of legal rights". These are:
>
> The right of possession -the right to physically possess and occupy the
> space
> The right to control the property within the limits of the law
> The right of enjoyment-the right to use the property in any legal manner
> The right of exclusion- the right to keep others off your property
> The right of disposition- the right to sell, rent, lease, will, or
otherwise
> dispose of the property in any way you see fit within the bounds of the
law.
>
> As part of this you can sell darn near anything on, under, or above the
> property that is legal to sell, or the rights to anything that might be
> there (assuming you own those rights, but that's another issue).
>
> Now the government has some rights, too. There is police power, which is
the
> power to enact legislation or take actions to preserve order, protect
public
> health, etc. This usually comes out in building codes, environmental
> legislation, and other laws that might affect real property. The
government
> also has the right of eminent domain, which is the right of the government
> to condemn your property and then use it build a new school, new projects,
> or (if you live in Tennessee) the road to your Governor's retirement
> property. Usually the government in question will give a reasonable market
> value as compensation for the property acquired in this manner. There is
> also the right of taxation, wherein the city or county government carve
off
> a chunk of your salary each year rather than taking your land by the inch.
> The state can also have the right of escheat, where the government finds
no
> legal heirs to the property and claims the property for government use or
> resale.
>
> Most all of this has come down from English common law.
>
> Michael
> (not a licensed Real Estate agent, but formerly with the state real estate
> commission)
>
> ----- Original Message -----
> From: "I William Wiser" <will@wiserlife.com>
> To: <Extropians@extropy.org>
> Sent: Friday, July 27, 2001 4:56 PM
> Subject: Land rights
>
>
> > Here is a question that has bugged me off and on for years.
> >
> > What ways of handling property rights and especially land rights
>
>
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