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Beneficial owners hold specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person. Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the ...
Property rights are constructs in economics for determining how a resource or economic good is used and owned, [1] which have developed over ancient and modern history, from Abrahamic law to Article 17 of the Universal Declaration of Human Rights.
The "polestar" of regulatory takings jurisprudence is Penn Central Transp. Co. v.New York City (1973). [3] In Penn Central, the Court denied a takings claim brought by the owner of Grand Central Terminal following refusal of the New York City Landmarks Preservation Commission to approve plans for construction of 50-story office building over Grand Central Terminal.
Then the purchaser of the water right could only use the water in the same season as when the right was established. In addition, the state may put additional conditions on the use of the water right to prevent polluting or inefficient uses of water. [6] Beneficial use is commonly defined as agricultural, industrial or household use.
In economics, the freedom of contract has been studied in the field of contract theory. According to the Coase Theorem, the freedom of contract is beneficial in the absence of transaction costs. When two rational parties voluntarily enter into a contract, they must be (at least weakly) better off than in the absence of the contract.
Donald Trump has said he plans to end birthright citizenship as part of his promised crackdown on immigration when he becomes president on Jan. 20. Below is a look at U.S. birthright citizenship ...
To describe situations in which economic users withdraw resources to secure short-term gains without regard for the long-term consequences, the term tragedy of the commons was coined. For example, forest exploitation leads to barren lands, and overfishing leads to a reduction of overall fish stocks, both of which eventually result in ...
Against the weaker-than-expected jobs report came a one-two punch of new economic data for October, a week after a U.S. presidential election in which the economy factored largely into voter concerns.