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Concept
Right to property
Summary
The right to property, or the right to own property (cf. ownership) is often classified as a human right for natural persons regarding their possessions. A general recognition of a right to private property is found more rarely and is typically heavily constrained insofar as property is owned by legal persons (i.e. corporations) and where it is used for production rather than consumption.
A right to property is specified in Article 17 of the 1948 Universal Declaration of Human Rights, but it is not recognised in the 1966 International Covenant on Civil and Political Rights or in the 1966 International Covenant on Economic, Social and Cultural Rights. The 1950 European Convention on Human Rights acknowledges a right for a natural or legal person to "peaceful enjoyment of his possessions", subject to the "general interest or to secure the payment of taxes."
The right to property is one of the most controversial human rights, both in terms of its existence and interpretation. The controversy about the definition of the right meant that it was not included in the International Covenant on Civil and Political Rights or the International Covenant on Economic, Social and Cultural Rights. Controversy centres upon who is deemed to have property rights protected (e.g. human beings or also corporations), the type of property which is protected (property used for the purpose of consumption or production) and the reasons for which property can be restricted (for instance, for regulations, taxation or nationalisation in the public interest). In all human rights instruments, either implicit or express restrictions exist on the extent to which property is protected. Article 17 of the Universal Declaration of Human Rights (UDHR) enshrines the right to property as follows:
(1) Everyone has the right to own property alone as well as in association with others.
(2) No one shall be arbitrarily deprived of his or her property.
The object of the right to property as it is usually understood nowadays consists of property already owned or possessed, or of property acquired or to be acquired by a person through lawful means.
Official source
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