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1 results

  • 6 - Property’s Conceptual Structure

  • from Part II - The Natural Right to Property
  • Eric R. Claeys, George Mason University, Virginia
  • Book:
    Natural Property Rights
    Published online:
    17 April 2025
    Print publication:
    24 April 2025, pp 105-127

  • Summary

    This chapter studies the property’s analytical structure. The most basic concept for property is the concept of a usufruct. The conceptual model for usufructs describes informal property right and simple legal rights like easements and common law water rights. That model also describes the features of the natural rights that conventional property institutions should secure. Usufructs consist of in rem and immunized claim-rights in relation to separable resources, they possess institutional status, and they are structured to perform the function of facilitating productive use as studied in Chapters 4 and 5. The foregoing definition of a usufruct is a definition in relation to a focal or core case. This chapter contrasts its conceptual claims with exclusion theories and bundle of rights theories.