4 ms·

Real estate is not a traditional asset class.

• trashtester 4y ago
  I always used to think that real estate / claim to territory was the most traditional asset of all, dating back way farther than our species.
  • randbox 4y ago
    No other species has the recorder of deeds \ title registrar \ court system to enforce claims over territory in absentia without the continual presence of the beneficiary. Even among humans most of Earth's territory is considered common property and not excludable or conveyable personal property when considering the ocean. Practically speaking something is only an asset in a financial context when ownership can be conveyed on paper and pledged as collateral for a loan.
    • trashtester 4y ago
      Many animals use urine to "write" their claim to ownership. Trespassers get punished severely, and they know it. The message implies a high willingnes to enforce their claim, even at significant risk. Rivals usually stay away unless they are either desperate or confident that they are superior. I would argue that these are the instincts that form the basis for our concept of ownership of assets, and predate our modern justice systems by tens of millions of years.