Property law thinking normally assumes that the protection afforded an owner does not vary in intensity across the owned asset. Property rights’ legal potency can differ between different assets, but not within a given asset. This Article argues that this assumption is wrong—and that when lawmakers pretend that it is not, detrimental results ensue. This Article demonstrates that, in fact, property law distinguishes the edges of an asset from its core. For good normative reasons, the law recognizes much weaker ownership rights in the edges of an asset—the areas lying close to the private property boundary line—than at its core. The law conceives the edges of any private property as a space where private and public interests inevitably intera...