San Jose, CA (PRWEB) May 12, 2008
A recent article in the SMU Journal of Air Law and Commerce concludes that it's legal for individuals to own moon property under international law, and that the establishment of lunar property rights is necessary to provide the financial resources for lunar settlement.
According to authors Dave Wasser and Douglas Jobes of the Space Settlement Institute, the Outer Space Treaty of 1967 does not forbid nations from recognizing land claims made by private organizations like Lunar International, which sells lunar land claims to the public to fund future lunar exploration and settlement initiatives.
"Nations could recognize land ownership claims made by private space settlements without being guilty of national appropriation or any other violation of the Treaty," write Wasser and Jobes.
Lunar International donates a portion of each sale to the Society for Lunar Exploration and Development, an organization establishing a system like the one described by Wasser and Jobes that allows regular Earth-bound citizens to own moon property. Should the group succeed in its efforts, those who purchased land claims through Lunar International would enjoy full property rights to their slice of real estate on the moon.
"The sale of private property rights is the only realistic means through which mankind will explore and settle the moon," said Jackson James, president of Lunar International. "It is not reasonable to assume that governments will ever be able to overcome political pressures to consistently allocate the necessary funding to such projects."
According to Wasser and Jobes, systems such as the one developed by Lunar International could spark massive private investment that would lead to the establishment of permanent lunar settlements. James agrees, noting that purchases of land claims for moon property through Lunar International have nearly doubled over the past three months and are well ahead of the company's 2007 sales figures.
The system established by Lunar International is not unlike those used to colonize the United States a few centuries ago, said James.
"The people buying lunar land claims are today's pioneers," said James. "They dream about a better future for themselves and their children, and they understand the importance of developing settlements in space to protect ourselves against Earth-bound catastrophes like nuclear war and radical climate change."
With customers in over 130 different countries, Lunar International is the world's leading expert in moon real estate. The company offers land claims to property on the moon in several geographic regions, including the famed Sea of Tranquility where man first stepped foot on the moon. Prices for the company's personalized property packages start at $18.75 per acre.