Definition of Property Owner Rights

The right to own property is inherent in American society

According to the 'Lectric Law Library, property rights are defined as "the right and interest which a man has in lands and chattels to the exclusion of others." In theory, a person is free to use property as he pleases.

Types

Property rights vary from country to country. In Europe, a person can own property but cannot always decide its use. In China, there is no ownership of property.

Significance

Thomas Jefferson once said, "Nothing is ours, which another may deprive us of." The American view of property rights, therefore, is based upon the ideal of personal sovereignty.

Limitations

In the United States, property rights are not absolute, as the state can impose limitations in order to protect the public interest. Under the Fifth Amendment, property can be confiscated for public use but only with "just compensation."

State Interest

While the individual owns and administers his land, the state maintains an interest by imposing taxes. If the owner dies without a will, the state may take over ownership.

Considerations

Today, there is contention between property owners, who view their rights as almost absolute, and those who believe that the well-being of society may at times outweigh the interests of the individual.

References

• 'Lectric Law Library: Property
• UMass.edu: Private Property Rights A Look at Its History and Future
• The Internet Encyclopedia of Philosophy: Right to Private Property

Resources

• University of Chicago Press/Liberty Fund: Amendment V