Want to buy an acre on the Moon? Perhaps a beautiful Carpathian Mountains overlooking the famous Crater Copernicus? You're lucky. Dennis Hope firm Lunar Embassy, extraterrestrial real estate, is selling a one-acre parcels for only $ 19.99. And should you splurge and become the proud owner of some early Lunar real estate, then, I'd like to sell a piece of the Brooklyn Bridge.
No matter that Mr. hope he never set foot on the lunar surface. The Lunar Embassy site, existing space law serve only to prohibit Nations to take over the Moon, Mars and other bodies and agencies, leaving individuals free to claim legal ownership on a first come, first-served basis. But no load wagons-up quite yet.
The 1967 Outer Space Treaty (OST), described by some as the "Magna Carta" of space law, is the main document governing the activities of outer space. He is best known for "the Commons" concept that turns into a giant space of Commons for the benefit of all mankind. Much like the common areas of homeowners and condominium associations, outer space can be "used" by all mankind. But for property rights, article II of the OST prohibits national appropriation of outer space, including the Moon and other celestial bodies, of use, employment, or otherwise.
In a society of common law, if a country cannot claim sovereignty over outer space or a celestial body, then it is impossible for that country itself to confer rights owned by outer space to a private person or enterprise. As a matter of principle, a private individual or undertaking cannot do what it cannot do that belongs to the country.
A conflict arises, however, when "use" begins to look and feel like ownership-the purchase of property, with the intent of the property. Take President Bush's initiative to build a Moon base to serve as a platform for future missions to Mars. The United States will obviously choose the best location on the moon base to build and occupy this position on the basis of first come, first-served basis. No other country or private enterprise will have access to land under the operational base for as long as it is. Although the United States cannot claim legal ownership to the land below the base, some will question if their "use" is really a de facto territorial claim. When a nation operates a facility in a particular location for an extended period of time, the end result is indistinguishable from territorial sovereignty.
If a private company to build a permanent housing project on the Moon, the same challenge could be made that their "use" is also a de facto territorial claim to the land below. But if the houses were designed to move the position by position, such as a mobile home, so the challenge would have less credibility. The mobile homes would be treated as personal property, such as a car or boat, instead of real estate, that typically means ownership.
Office building or condominium unit in free space and allowing these devices orbit Earth would also lessen the likelihood of a de facto territorial claim. The private company responsible for their construction would still retain ownership over the units, but as all objects launched into outer space, the nation would maintain the registry legal jurisdiction under article VIII of the OST. For example, if the country of registration for each unit was in the United States, the laws of the United States would preside over each unit and its occupants.
The private enterprise could fund the project in advance by selling spaces for companies and individuals. The inhabitants would keep title to their living space and labour (much like holding the title of a mobile home) and pay a monthly fee for maintenance and support of life. It goes without saying that the negotiability of such units would depend on a reliable means to tug the occupants from the ground and on a regular basis.
Once established, however, the list of potential buyers may include pharmaceutical companies, producers, technology, Casino and timeshare magnates even lenders seeking to various Nations registry that have favourable tax laws. Imagine a tax haven in outer space. Many banks "offshore" and asset protection companies would be clamoring for Office space.
The opportunity to make money in outer space are certainly real and should begin to evolve in the not too distant future. But until the real estate, popular adage "location, location, location," incorporates jargon space as lure orbit track, picturesque craters and oceans without water, keep your $ 19.99 firmly in hand.
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