Real Property Rights and Environmental Impact Research Paper

Real Property Rights and Environmental Impact - Research Paper Example Since environment is finite, ecological limitations will ultimately constrain human activities. The interrelations within human reliance on and restriction of environment gives the land paramount role in the society (John J. Fittipaldi 56). Understanding real property rights include politics, philosophy, economics, sociology and law. Restrained distinctions need to be created. The conclusions are often ambiguous. Reasonable people may disagree. Agronomic, biological and engineering aspects have to be considered in finding the limits of resource ownership, division or responsibilities on environment and effects on the third party. History, customs, facts and circumstances of specific cases are crucial in debate over property rights and environment. Real property is not a relationship between things and people but a relationship between people in regards to things around him. The social and legal significance of real property is not the tangible part of it; rather the rights that are a ttach to it (John Ratcliffe 89). An important characteristic has to be put between property rights and property ownership. Consequently, tenants have the right to use properties owned by other individuals in return of rent payment. A relevant example is the difference between trade in annual allocation –temporally trade, and trade in irrigation entitlement-permanent trade, where ownership of long term right to use is not altered. Steps have been made in application of concepts of real property rights to environmental issues, especially irrigation, where water is seen as trading innovator. Certainly, the logic of eradicating the past stiff attachment of rights to use irrigation schemes to particular lands is now hardly questioned. Nonetheless, while thinking about real properties rights is an important step in illuminating responsibilities for environmental management and assessing any claims for compensation, changes in property rights should not be oversold as an answer to e nvironmental crisis (Robinson 98). Real property can assist rationing of resources among different individuals and uses, but will not end any dispute over the impact of the rationing program. On this reasoning, a rigid legal approach to irrigators’ property rights would have a negative economic impact and political reaction. Current attitude on irrigators is that they are being supported by government, including unspoken approval of associated environmental damages. On a different perspective, environmental contamination often has a considerable impact upon real property. Buyers and sellers dedicate significant efforts towards negotiating a price in the sale of the contaminated property which accounts for its needs to be reinter ceded under the management of environment agencies (Australia 23). The eventual price agreed upon is usually replicating a negative effect caused by the subsistence of environmental pollution. There are numerous ways in which environmental situation m ay affect the valuation of real property tax appeal context (Roger LeRoy Miller 86). Arguments over property rights are forefront of debate over irrigation and the environment. Contradicting elucidations of the current political and legal situation highlight the need for practicality if excellent outcome are to be obtained in environmental