Fee Simple Obsolete

L. Fennell
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引用次数: 8

Abstract

Urbanization has dramatically altered the way in which land generates and forfeits value. The dominant economic significance of patterns of land use and the opportunity costs of foregone complementarities have made the capacity to reconfigure urban property essential. Yet the architecture of our workhorse tenure form — the fee simple — is ill-suited to meet these challenges. The fee simple grants a perpetual monopoly on a piece of physical space — an ideal strategy when temporal spillovers loom large, interdependence among parcels is low, most value is produced within the four corners of the property and cross-boundary externalities come in forms that governance strategies can readily reach. But times have changed. Categories of externalities that were once properly ignored by the fee simple have become too important to continue neglecting. This paper argues for alternative tenure forms that would move away from the endless duration and physical rootedness of the fee simple.
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Fee Simple已废弃
城市化极大地改变了土地产生和丧失价值的方式。土地使用模式的主要经济意义和放弃互补性的机会成本使得重新配置城市财产的能力至关重要。然而,我们的主力终身聘用制的架构——简单收费制——并不适合应对这些挑战。当时间溢出效应明显、地块之间的相互依赖性较低、大部分价值是在地块的四个角落内产生的、跨境外部性以治理策略容易达到的形式出现时,这种收费模式是一种理想的策略。但是时代变了。曾经被简单主义者适当忽视的外部性类别,已经变得太重要了,不能再继续忽视了。本文提出了另一种终身教职形式,这种形式将摆脱终身教职的无限持续时间和物理根基。
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