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Private property is a legal designation for the ownership of property by non-governmental legal entities. [1] Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. [2]
However, new types of land ownership is generally disallowed, under the numerus clausus principle, unless they are introduced by legislation. [13] In most states, full ownership of land is known as fee simple, fee simple absolute, or fee. [14] Fee simple refers to a present interest in the land, which continues indefinitely into the future. [14]
As of 2020, the federal government owns roughly 640 million acres of land, the majority of which is concentrated in the Western US and Alaska. [1] Privatization of public land involves the selling or auctioning of public lands to the private sector. The private sector can refer to private individuals, industry, or corporations. [citation needed]
The right to property, or the right to own property (cf. ownership), is often [how often?] classified as a human right for natural persons regarding their possessions.A general recognition of a right to private property is found [citation needed] more rarely and is typically heavily constrained insofar as property is owned by legal persons (i.e. corporations) and where it is used for ...
The idea that making land productive serves as the basis of property rights establishes the corollary that the failure to improve land could mean forfeiting property rights. Under Locke's theory, "[e]ven if land is occupied by indigenous peoples, and even if they make use of the land themselves, their land is still open to legitimate colonial ...
The vast majority (97%) of transfers of federal land to private ownership occurred before 1940. [6] Beginning in the early 20th century, U.S. government policy shifted from disposing of public land to retaining and managing it. [6]
(1) Private ownership of land shall be abolished forever; land shall not be sold, purchased, leased, mortgaged, or otherwise alienated. All land, whether state, crown, monastery, church, factory, entailed, private, public, peasant, etc., shall be confiscated without compensation and become the property of the whole people, and pass into the use ...
Over the millennia and across cultures, notions regarding what constitutes "property" and how it is treated culturally have varied widely. Ownership is the basis for many other concepts that form the foundations of ancient and modern societies such as money, trade, debt, bankruptcy, the criminality of theft, and private vs. public property.