Property Law Perspectives VIII

Preface xi
Clockwork World xiii
Sophie Cooke

Part I Property and Sustainability
1 Framing Waste as a Common Treasury to Facilitate the Circular Economy 3
Katrien Steenmans
1 Introduction 3
2 The Concept of Common Treasury 5
3 Waste as a Common Treasury 9
3.1 Waste 9
3.2 Benefits of Reconceptualisation for Circular Economy 11
4 Property Schemes in Waste as a Common Treasury 13
4.1 Private Property 16
4.2 State Property 18
4.3 No Property 18
4.4 Communal Property 19
5 Conclusion 21

2 Land and Real Estate as Poisoned Chalice: a Blind Spot in Property Law? 23
Marie-Laure Degroote
1 Introduction 23
2 Conceptual framework 24
3 Paradigm shift 28
3.1 From a property-rights to a property-obligations conception 28
3.2 From positive to negative value things 30
3.2.1 Subjective negative value land 31
3.2.2 Objective negative value land 31
3.2.3 The vacancy risk of negative value land 33
4 Vacancy as a shared civil-common law challenge? 35
4.1 Negative externalities 35
4.2 Legal (dis)incentives for vacancy 36
4.2.1 No change in ownership status 36
4.2.2 Change in ownership status 38
4.2.3 Social obligations 44
5 Conclusion 45

Part II Property and Society in Extraordinary Times
3 Cultural Heritage and Social Identity in Territories Affected by Natural Catastrophes 49
Roberto Garetto
1 Introduction 49
2 Notion of cultural heritage 50
3 ‘Cultural property’ v. ‘Cultural heritage’: terminological evolution 51
4 Interaction between tangible and intangible cultural heritage 55
5 Cultural heritage and social identity 56
6 Fragility of cultural heritage in the face disasters and possible remedies 58
7 The EU framework on the protection of cultural heritage from natural disasters 60
8 Conclusion 63

4 The Community Land Trust Implementation in Peru: A Property Right-Based Model for a Civil Law Country 65
Gerson Enrique Barboza De las Casas
1 Introduction 65
2 Central problem: Inadequate housing conditions in Peru 66
3 Housing policies and the persistence of the problem 68
3.1 Formalisation of informal ownership 68
3.2 Government subsidies 69
3.3 Facilitating access to mortgage loans 69
4 Reflections on Peruvian housing policies: individual private property as the only scheme for affordable housing generation 70
5 A new land tenure model: the Community Land Trust 72
6 Legal framework: The CLT Standard Model 75
7 Does the CLT model really work? 77
7.1 The CLT consolidation: Evidence from USA, England and Canada 78
7.2 Dawn of the CLT in Latin America: Recent experiences in Puerto Rico and Brazil 80
7.2.1 The Fideicomiso de la Tierra del Caño Martín Peña in San Juan, Puerto Rico 81
7.2.2 The Termo Territorial Coletivo in Rio de Janerio, Brazil 82
8 Implementing the CLT Model in Peru 83
8.1 A property right-based model for a Civil Law country: Ground lease scheme 83
8.2 The non-profit organisation as a community-based land holder 85
8.3 Controls and limitations on alienability of the leasehold interest 85
8.4 Legal structure in home financing: Shifting the individual property paradigm 86
9 Conclusion 87

5 Dignity Restoration through Property Rights in Thubakgale v Ekurhuleni Metropolitan Municipality 89
Tanveer Rashid Jeewa and Sfiso Benard Nxumalo
1 Introduction 89
2 Making a Case for Dignity in Property Disputes 94
2.1 Understanding Dignity 94
2.2 The Institution of Property in Colonial, Apartheid and Democratic South Africa: Dignity Takings 96
3 Setting the Scene: Understanding Thubakgale 101
4 The Missing Property Argument 104
5 Taking Property Rights and Dignity Seriously: Reconsidering Thubakgale to Restore Dignity 109
6 Concluding Remarks: Thubakgale – a Missed Opportunity 113

Part III Property Law for the Future
6 Living on Water: on the Legal Design of Floating Real Estate Projects 117
Kato De Schepper
1 Introduction: Living on Water, a Mere (Legal) Fantasy? 117
1.1 Water Juritecture 117
1.2 Property Law Issues 118
2 Movable Immovable Goods and Inherent Components 119
2.1 Immovable Goods by Incorporation 119
2.2 Floating Homes as Incorporated Goods 121
2.3 Immovables by Incorporation, Inherent Components and the Unity Principle under Reformed Property Law 122
3 Immovable Accession: Application to Waterhouses 124
4 Underlying Soil as Public Domain 126
4.1 Subsoil and Water Volume as Public Domain Goods 126
4.2 Accession and Public Domain 127
4.3 The Creation of Rights in Rem on Public Domain 128
5 Horizontal Property Split and Multiple Land Use Through the Creation of a Perpetual Building Right 129
5.1 Multiple Land Use 129
5.2 Building Rights: General Takings 130
5.3 From Limited Duration to a Perpetual Building Right 131
6 Conclusion: Living on Water – ‘Fluctuat Nec Mergitur’? 134
6.1 Immovable by Incorporation 134
6.2 Immovable Accession 134
6.3 Inherent Components 135
6.4 Public Domain 135
6.5 Building Rights 135
6.6 Fluctuat Nec Mergitur 135

7 Property and Remedies in the Case of Interference with Cryptoassets: A View from England and Wales 137
Katie McCay
1 Introduction 137
2 What Is a Cryptoasset and Where Do They Fit Within English Personal Property Law? 138
3 Early Cases Involving Wrongful Interference with Intangibles: The Inapplicability of the Property Torts 141
4 Interim Remedies 142
4.1 Interim Injunctive Relief 143
4.2 Freezing Orders 144
5 Can We Call Cryptoassets Property? 145
5.1 The Case Law in England and Wales 146
5.2 The Case Law in the Common Law World 150
5.3 Academic Arguments 153
6 Conclusion 155

8 Property Law and Space Resources: The Last Frontier of Property Law 157
Sirio Zolea
1 Introduction 157
2 The International Law Level 157
2.1 The Outer Space Treaty 158
2.2 The Moon Treaty 159
2.3 The Uncertainties of the International Law Framework 160
3 Some National Experiences of Legislation 164
3.1 The USA 164
3.2 Luxembourg 165
3.3 The United Arab Emirates and Japan 166
4 The Artemis Accords 167
5 Concluding Remarks 170