Dictionary of Business Terms: allodial system
allodial system
legal system that allocates full property ownership rights to individuals. The allodial system is the basis for property rights in the United States.
Dictionary of Real Estate Terms: allodial system
allodial system
a legal system that allocates full property ownership rights to individuals. The allodial system is the basis for property rights in the United States.
Example: Under the allodial system an individual may obtain fee simple ownership of a parcel of real estate. This allows the individual to enjoy the full set of rights entailed in property ownership, subject to restriction only by governmental powers of taxation, police power, and eminent domain.
