An Economic and Political Policy Analysis of Federal and State Laws Governing Foreign Ownership of United States Real Estate

This Note surveys the complex scheme of federal and state laws addressing foreign ownership of United States real property that has developed over the course of the last two centuries, precipitated by several important events. The Note then critically analyzes the traditionally invoked economic and policy Justifications for regulating alien land ownership. The author concludes that sound economic principles militate against rather than in support of such regulation and that policy justifications, although representing valid concerns in some cases, have been used to produce overbroad regulations. The author suggests, therefore, a rethinking of the United States approach to alien land ownership, abandoning all restrictions except those narrowly tailored to advance specific policy concerns