Extraterrestrial real estate- Can you buy property in space?

Individuals from Yemen sued NASA in 1977 for landing on Mars without permission. They declared that they had inherited the planet from their ancestors approximately 3,000 years ago.

Have you ever thought of investing in extraterrestrial property? This seems like a bizarre idea but is a common practice. People believe that the survival of humankind depends upon colonizing celestial bodies such as Moon and Mars. Quite a few individuals have started investing in extraterrestrial property through multiple space estate agencies. These agencies charge an exorbitant amount and provide you with a certificate of ownership so your future generations can build a massive villa in outer space. 

An artist's illustration of what a base on the moon might look like. Source: Space.com
An artist’s illustration of what a base on the moon might look like. Source: Space.com

Different state agencies charge different amounts for a piece of land on the celestial bodies. For example, lunar land salesmen generally charge £16.75 for a one-acre plot. The amount, however, is considerably different for planet Mars. Why is it different, though? Agencies charge more for a ‘Martian Deed’ because people are planning to colonise it in the near future. Space X and NASA are already planning to take individuals to Mars in order to make it habitable for humans. The said process will commence in 2024. Quite a few professionals are currently being trained and prepared for a mission to Mars. 

Moreover, massive corporations, entrepreneurs and renowned politicians have their eyes on the Luna and its uncountable resources. Experts claim that the moon, in general, has multiple hidden treasures. However, scientists need resources and technology to unearth them. The said claims have caused competition among the rich individuals of planet earth. 

According to Article II of the United Nations 1967 Outer Space Treaty, no country can claim possession of the Moon. However, a man called Dennis Hope challenged the law and spoke against it. According to Hope, the said treaty does not stop individuals from claiming a piece of land on the Moon or any other celestial body. He wrote a letter to the United Nations notifying them that he owned the Moon and began selling pieces of land on it. As per reports, he has sold over 16 billion acres of lunar real estate to over seven million individuals since 1980. People belonging to over 197 different countries bought different parts of Luna through his company called Lunar Embassy. He made loads when he sold a country-sized plot of the moon for over $250,000. 

Hope is known as the first extraterrestrial real estate tycoon. Moreover, he formed his own government in 2004 in order to give complete rights to the people investing in Lunar property. China’s space program recently announced that they would send a rover to the Moon. Dennis Hope sent them a letter in which he graciously granted them permission to explore the moon. However, he informed them that any permanent settlement would have to be obtained by a lease with the property owner. 

Is any of this legal, though? No, it isn’t. He doesn’t own the Moon nor does he own Pluto, which he offers in its entirety for $250,000.

Hope is not the only person who claimed to own the Moon. Three men from Yemen sued NASA in 1977 for landing on Mars without their permission. They declared that they had inherited the planet from their ancestors approximately 3,000 years ago. Their claim was based upon the beliefs of the Himyaritic and Sabaean civilizations, which existed roughly between 2000 and 3000 B.C.

Humankind is indeed progressing in terms of technology, and we shall soon be able to walk on Mars. However, I wouldn’t suggest investing millions and billions in one of the celestial bodies. No one can actually own a piece of land outside of Earth at the moment.  Extraterrestrial estate agents are ripping people off by selling something that doesn’t even exist in the first place. Humans first need to figure out ways through which they can permanently reside in outer space.

Sources:

United Nations Office for Outer Space Affairs

Dennis Hope’s Lunar Embassy 

Outer Space Treaty 

 

 

 

 

 

 

 

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