Expropriation

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Expropriation

 

(1) In law, the forced alienation of property, with or without compensation, by the government. Both real property (for example, land used for railroads or unpaved roads) and movable property (such as precious metals) may be expropriated. Depending on whether or not compensation is paid, expropriation may take the form of requisition or confiscation.

(2) The removal by one social class of another class’s property and social status. Within a class, the term “expropriation” is applied to the removal by one stratum of another stratum’s property and status—for example, a legislative act secularizing church lands. Immediately after the victory of the Great October Socialist Revolution of 1917, the Soviet government expropriated substantial portions of the property of the former exploiting classes.

References in periodicals archive ?
Due to the lack of guidance for applying treaty standards with respect to first-generation BITs, the application of customary international law by tribunals serves to clarify the scope of indirect expropriation. (25) Tribunals have asserted the doctrine of police powers to discern the difference between indirect expropriation and the state's legitimate regulatory measures.
In order to provide much-needed clarity on laws pertaining to land redistribution, on July 31, South African President Cyril Ramaphosa announced that African National Congress (ANC), the ruling party, would implement plans to amend the constitution in order to allow the expropriation of land without compensation, following a motion passed by parliament in February.
'The expropriation of lands should be done in a legal manner and with just compensation for the farmers,' Andaya said.
After the rendition of the order, the government is prohibited from discontinuing the expropriation proceedings except on such terms as the court deems just and equitable.
42 of the Expropriations Act in that it may allow for expropriating authorities, particularly school boards, to shift their purposes from those prescribed in the original Notice of Expropriation.
These provisions are different from the public interest requirement discussed in Part II.A in that they do not require that expropriation should serve a public interest, but rather make a sweeping statement that all property is subordinate to the public good.
"We appealed to the Council of State because national security is not at stake and therefore this kind of immediate expropriation scheme cannot be executed.
In late March the limo of the Attorney-general was seized by bailiffs on the strength of a court order that ruled in favour of a private citizen whose land, around 10,000 square metres, had been initially expropriated -- but never paid for -- by the government, which then decided it did not need it and revoked the expropriation.
Expropriation laws mediate the inevitable conflicts between private real property rights and the public need for that same land, following clear step-by-step processes.
If the insurance market cannot be left to make the risk-incentives tradeoff on its own, then what kinds of expropriations should be compensated?
Once the value of the companies' real estate has been driven down, the aim is to achieve a drastic discount on the net asset value during the planned expropriation phase - ultimately, perhaps only 30 per cent of the current market value will be paid as compensation.
Hence, such encouragement may lead to expropriation if the listed companies involved in activities that will promote the firm financial performance.