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In 1922, the Supreme Court held in Pennsylvania Coal Co. v. Mahon that governmental regulations that went "too far" were a taking. Justice Oliver Wendell Holmes, writing for the majority of the court, stated that "[t]he general rule at least is that while property may be regulated to a certain extent, if regulation goes too far it will be recognized as a taking."
Confiscation (from the Latin confiscatio "to consign to the fiscus, i.e. transfer to the treasury") is a legal form of seizure by a government or other public authority. The word is also used, popularly, of spoliation under legal forms, or of any seizure of property as punishment or in enforcement of the law.
For example, in 1945 the French government seized the car-maker Renault because its owners had collaborated with the 1940–1944 Nazi occupiers of France. [ 2 ] Economists distinguish between nationalization and socialization , which refers to the process of restructuring the economic framework, organizational structure, and institutions of an ...
Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities.In the United States, it is a type of criminal-justice financial obligation.It typically applies to the alleged proceeds or instruments of crime.
An example would be a cellphone as it only one person may use it, making it rivalrous, and it has to be purchased, which makes it excludable. Common property or collective property is excludable and rivalrous. Not to be confused with common property in reference to economics, this is in reference to law.
In contrast, criminal forfeiture is a legal action brought as "part of the criminal prosecution of a defendant", described by the Latin term in personam, meaning "against the person", and happens when government indicts or charges the property that is either used in connection with a crime, or derived from a crime, that is suspected of being ...
Russia's foreign ministry on Thursday criticised a Finnish government plan to speed the confiscation of Russian-owned real estate in Finland, warning the Nordic country of countermeasures.
The property of subjects is under the eminent domain of the state, so that the state or those who act for it may use and even alienate and destroy such property, not only in the case of extreme necessity, in which even private persons have a right over the property of others, but for ends of public utility, to which ends those who founded civil ...