nini2287
Junior Chimp
Posts: 6,616
Political Matrix
E: 2.77, S: -3.39
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« on: January 18, 2006, 12:38:00 PM » |
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I watched the movie "The House of Sand and Fog" the other day. It was an excellent movie, but it brought up an interesting property rights question.
Due to a tax mixup, person A's house, valued at $45,000, is repossessed by the county and within a couple days is sold to person B for that price. Person B immediately adds improvements to the house at a cost of $5,000 and due to the nature of the property the value rises to $174,000. Shortly thereafter the government realizes its mistake. So the question is:
A) Who should have possession of the house?
B) How much should each person be compensated?
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