Theories of Property
Theories of Property
Theories of Property
1. Na~ural law Theo ry.-T his th_eory is base~ on the ~rinc iple of natural
reaso n deriv ed from the natur e of things. Acco rding to this theory, properh
was first acqui red by occupation of an owne rless object2 as a result of indjvidu:i
labou r. Groti us, Pufendrof, Locke and Blackstone have s~pp orted this theory.
Kant also upho lds this theor y in his classic work Philosophy of Law. As
point ed out by Blackstone, "by the law of nature and reason, he who first began
to use a thing acqui red therein a kind of trans_ient prope rty that lasted so long
as he was using it and no longer". However, as the popu lation increased, the
mean ing of prope rty was exten ded not to the inord inate use only but to the
subst ance of thing to be used . Thus the theory of occup ancy was the foundation
of all prope rty. ·
The natur al theor y of prope rty has been criticised by Sir Henr y Maine and
Benth am. Acco rding to Henr y Maine, it is erroneous to think that possession
gives rise to title 3 for there is no reasonable groun d to suppo rt this contention.
Bent ham holds th at prope rty has not originated by fi rst occupation of an
o\ivnerless thing, but it is a creation of law. He does not believe in the existence
of prop erty withou t the existence of law.
2. Labo ur Theo ry.- This theory primarily believes that prope rty can be
claim ed on the exclu sive basis of one's work, which produ ced that prope rty. It
recog n ises the role of labou r for adequ ate rewar ds. When a perso n acquires
prop erty, he is entitl ed to ho)d it exclusively .
4 7tj
l'IH >l' f '. l<TY
The cent ral prin cip le und erlying prop erty acguisib on
fNag socio J '>~cu rit/
and coll ectiv ely of own ersh ip . Mut ual trus t, good fa
jth and resp ect for otht:~:>
p rope rty righ t, refra ined peo ple from in du lgin g in unju
st enri chm ent fur thE=t r
self ish end s.