Property rights are an important part of US law, and there are several different types of restrictions that can be placed on them. Common law limits the right to free use when a use invades the property rights of others, such as in the classic law of annoyance and risk. The Fifth Amendment protects the right to private property in two ways: it states that the government cannot deprive a person of their property without “due process of law or without fair procedures”, and it establishes limits to the traditional practice of eminent domain. Joint tenancy is another type of property right, where quotas can be the same or unequal in size and one person may own more of the property than another.
Fictitious legal entities can also have property rights, which were created under general constitutional statutes. In addition to these types of property rights, there are also four main freedoms associated with them: the right to consume or destroy the object in question, the right to modify it, the right to alienate it through donation, exchange or abandonment, and the right to exclude others from using it. To provide guidance on the appropriate form of property rights, a description of them that is better equipped than traditional theory of natural rights is needed. This description should take into account social objectives such as justice and economic productivity.
Legal successors can also refer to a legally established successor of property rights (inheritance, interest) or liabilities (debt). In terms of biological material, there are rights related to its alienation that must be taken into account. To analyze these rights in detail, it is more useful to view them as sets (packages) of legal relationships between the owner and non-owners of an object. The natural rights theory of property was famously expressed by John Locke in his Two Treatises on Government (1690).
William Blackstone also wrote about this concept in his Commentaries on the Laws of England, noting that the essential core of property is the right to exclude. Minor property rights can be created by contract, such as easements, agreements and equitable easements. There are two main points of view on property law: the traditional point of view and the point of view of the set of rights. Society is free to choose which system best promotes social goods.
