* They also inserted a number of other checks and balances, designed partly to protect minorities from unfair property confiscations. * They added the Eighth Amendment, which barred excessive fines. * They adopted the Fourth Amendment, which protected “persons, houses, papers, and effects” from unreasonable search and seizure. * They adopted the Third Amendment, which largely prevented the government from quartering troops in private homes. * The Founders inserted a provision specifically protecting the property of family members of those convicted of treason (III-3-2). This was because they wanted most publicly-owned land to be transferred to the private sector. * The Founders gave Congress an unlimited power to dispose of public land (IV-3-2), but only limited power to acquire or hold land (I-8-17 and certain incidental powers).
#State property 2 free free#
* The Constitution’s Privileges and Immunities Clause (IV-2-1) protected the rights of citizens doing business and owning land in other states (including, by the way, the rights of women and free African-American citizens). * Most of the Founders opposed slavery, but given the system of the day, they even included provisions that protected “property” in slaves (e.g., I-9-1).
#State property 2 free full#
* They added the Full Faith and Credit Clause (IV-1) partly to require state courts to honor property records in other states. * They granted the federal courts jurisdiction over interstate land claims and interstate debts to limit the extent to which state courts could discriminate against the property rights of out-of-staters (III-2-1 and III-2-2). * Similarly, they inserted a section providing that those who had loaned money to the former Confederation Congress would be able to enforce those debts against the new government (V-1). * They added a section (Article I, Section 10) with several provisions protecting financial assets against state governments. property, without due process of law” and (2) required compensation when “property taken for public use.” * When it became clear that the ban on ex post facto laws was not broad enough to protect property, they partially plugged the gap with the Fifth Amendment, which (1) prevented any person from being “deprived of. * They denied Congress and the states authority to pass ex post facto laws (I-9-3 and I-10), a ban that some of the Founders thought would protect property. * They granted Congress authority to punish piracy, a crime directed principally against property (I-8-10). * They empowered Congress to protect intellectual property by authorizing copyright and patent laws (I-8-8). They flatly denied Congress power to tax exports (I-9-5). They also required that indirect taxes, such as import duties, be levied uniformly (I-8-1 and I-9-6). Accordingly, they required that direct taxes (mostly importantly property and income taxes) be apportioned among the states (Article I, Section 2, Clause 3 and Article I, Section 9, Clause 4). * The Founders were worried that Congress might use the tax system to loot property owners in some states for the advantage of other states. Their Constitution and Bill of Rights protected property in many ways: The truth is that the Founders were concerned about a range of human values, but property rights were high on their list.
Minmetals Trust last month already bought all the equity in at least one project from Evergrande in the southern city of Kunming for 50 million yuan, official filings showed, in a rare case where a trust company took over assets from a distressed developer.It is sometimes suggested that the Founders did not consider property rights important because the term “property” was mentioned only once in the Constitution. State-owned enterprises are expected to acquire more assets from cash-strapped private developers, analysts said, as Beijing steps up efforts to stabilise and tighten control over the crisis-hit property sector that accounts for a quarter of its economy. The deal also gives Evergrande the right to repurchase the equity interest in the projects.
"The contribution amount recovered will have a positive impact on the group’s efforts in both debt settlement and guarantee of property delivery of other projects," Evergrande said. Through the deals, Evergrande can recover around 1.95 billion yuan of the initial capital contributed, and settle around 7 billion yuan of liabilities in the projects. The trust firms will be responsible for the construction and the delivery of properties to homebuyers, and any surplus from property sales will be used to repay the initial capital contributed by Evergrande. The trust firms are part of China's so-called shadow banking sector. The right to debt means the buyers take on debt linked to the project.
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