Did you know that not everyone was always allowed to own property?
Earlier, in communist regimes, private ownership of property was completely prohibited. However, with changing times, more and more communities started to accept bits and pieces of private ownership into the law of the land.
However, the right to property scenario turned out to involve complicated steps and routines in the post-communist world.
Even if one can own property in the United States, one needs to be aware of the tax obligations that might come upon them. One’s Right to own property is recognized through the Universal Declaration Of Human Rights, internationally.
Article 17 Of The Universal Declaration Of Human Rights
Article 17 of the Universal Declaration Of Human Rights states the following.
- Everyone is entitled to the right to own property.
- Such ownership of property can take place when there is one person or in coordination with others.
The European Convention On Human Rights
The Convention states that one can own property and enjoy it to the fullest extent. However, they also need to be up-to-date with the taxes that come with the enjoyment of that property.
So, How Can The Right To Own Property Be Defined?
To fully understand what the right to own property means, we need to first understand what property means.
What Does Property Mean?
Property is the collection of wealth that own has ownership on. Thus, when one has rented out a property to the tenant, they do not lose the right of ownership of that property.
A property can be of two types. They are:
Tankgibe property is something that can be touched, felt, and perceived through our senses.
Intangible properties cannot be physically touched or felt but ownership can anyway be enjoyed of such property. These properties include copyrights, patents, shares, stocks, and bonds.
What Is Meant By Ownership?
Ownership is the relationship that the owner shares with their property. A person is said to be the owner when the property belongs to them legally. Ownership is a legal relationship. A person might share this relationship with a corporeal or incorporeal property.
Possession is not a necessary component of ownership.
What Is The Right To Own Property? Controversies To Right To Ownership
One’s Right to own property has been called out for its controversial character. The controversy lies in the fact that although it has been recognized as a legitimate human right, it has not been mentioned in the International Covenant of Civil and Political Rights. It has also not been included in the International Covenant of Economic, Social, and Cultural Rights.
There also happens to be some level of controversy regarding who is entitled to the enjoyment of the right to own property. As far as the law is concerned, all human beings and legal persons are entitled to the right to own property. A legal person is anyone who has been recognized in the eyes of law. Thus, organizations, companies, and anyone who is treated as a person under the eyes of the law.
A legal person can sue, can institute a suit in courts of law, can enter into contracts and agreements, and most important in this case, Own Property.
Limitations To The Right To Own Property
A person, be it a real or a legal person is restricted from owning property when subject to the following restrictions. Any property can be restricted from ownership based on the following circumstances.
- When the property is used for explicit purposes of consumption or production. These types of properties are usually protected.
- When the property has issues under any federal regulation.
- Taxation-related issues can restrict ownership rights enjoyed on it.
- When the said property has been nationalized for the protection of public interest.
Right To Own Property In The United States Of America
After the Universal Declaration Of Human Rights was done, different nations of the world followed with their Constitutions adopting these provisions, and also with these nations passed Human Rights Declarations of their own.
The American Declaration Of The Rights And Duties Of Man
The Declaration was adopted in the year 1948. Article 23 of the Declaration states the following regarding the right to own property.
- All human beings under this provision can enjoy the right to own property that can be considered essential to a decent living.
- One can also consider the dignity of such a life when enjoying the right to ownership.
The American Convention On Human Rights
The Convention recognizes the Right to Own Property and the right to get just compensation. The Convention also lays down a prohibition on usury.
- One is entitled to the right to own property and use it. However such rights will be subject to the restrictions that are necessary for the protection of public interest.
- One cannot be deprived of his property legally except when payment of sufficient compensation has been made for it, and according to terms agreed upon.
- One can also part with their property for serving purposes of public utility.
When Did Women Get The Right To Own Property?
In the year 1862, the Homestead Act, the US government made it easier for women, including divorcees and widowers to own property.
And It’s A Wrap!
This article is meant5 to serve as a complete guide to laws relating to the ownership of property. The right to own property has been manifested through various rights passed by Governments all over the world. If you have any doubts or questions related to property laws, feel free to reach out to us. Be sure to leave your thoughts in the Comment section below!