Search results
Results From The WOW.Com Content Network
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]
Expropriation is the seizure of private property by a public agency for a purpose deemed to be in the public interest. It may also be used as a penalty for criminal proceedings. [ 13 ] Expropriation differs from eminent domain in that the property owner is not compensated for the seized property.
Suppose the government must cut a firebreak through a forest upon private property to prevent spread of a forest fire. Or suppose the government destroys healthy livestock in a quarantine area to prevent spread of disease. These are invasive takings, but they do not fall under the per se rule described in a previous section.
In economic theory, privatization has been studied in the field of contract theory. When contracts are complete, institutions such as (private or public) property are difficult to explain, since every desired incentive structure can be achieved with sufficiently complex contractual arrangements, regardless of the institutional structure.
In the US, private prison facilities housed 12.3% of all federal prisoners and 5.8% of state prisoners in 2001. Contracts for these private prisons regulate prison conditions and operation, but the nature of running a prison requires a substantial exercise of discretion. Private prisons are more exposed to liability than state run prisons. [4]
In the United States, eminent domain is the power of a state or the federal government to take private property for public use while requiring just compensation to be given to the original owner. It can be legislatively delegated by the state to municipalities, government subdivisions, or even to private persons or corporations, when they are ...
The Law of Eminent Domain; A Treatise on the Principles which Affect the Taking of Property for the Public Use. Vol. II. Albany, New York: Matthew Bender & Company. OCLC 43697002 – via Internet Archive. Epstein, Richard Allen (1985). Takings: Private Property and the Power of Eminent Domain. Cambridge, Massachusetts: Harvard University Press.
Crucially, this prediction survives even after considering production and investment activities and it is consistent with a novel dataset on the rules on the acquisition of ownership through adverse possession and on the use of government takings to transfer real property from a private party to another private party prevailing in 126 ...