Whether you’re interested in exploring space, or simply dreaming of building property on the moon, there are some legalities to consider.
Resources available on the moon
Despite the fact that the moon is one of the largest natural satellites in the universe, the resources available on the moon are still relatively unknown. A number of missions are currently prospecting the lunar surface for possible resources.
Scientists have long been interested in harvesting lunar resources for industrial purposes. For example, rare earth elements are used to create modern electronics. These elements are also used in medical equipment.
There are many other raw materials of potential economic interest on the moon. These materials could be used to support future human activities on the moon.
Some of the key resources that can be extracted Build property on moon include water, oxygen and hydrogen. These can be utilized to produce fuel for rockets and propellant for scientific outposts.
The most valuable resource on the moon is water. This is a vital ingredient for food and drinking. It can be stored and recycled cheaply. However, the amount of water that is available on the moon is still uncertain.
Legalities of owning a piece of the moon
Purchasing land on the Moon has been an issue since space exploration began during the Cold War. The first artificial satellite was Sputnik 1, which opened up new legal and scientific possibilities.
The Outer Space Treaty of 1967 was the first legal document governing space exploration. This treaty was drafted by the international community. The treaty does not prohibit private individuals from claiming celestial bodies, but it does make clear that no one is a legal owner of materials taken from the moon.
The moon is a common heritage of mankind. It is not subject to national appropriation by occupation or use.
The Outer Space Treaty is a seventeen short articles long document. Its most important section outlines the rules governing outer space. This includes the prohibition against harmful contamination of the space. The treaty also forbids the use of a spacecraft to carry harmful materials. Several countries have signed on to the treaty, including the United States, Russia and China.
The Treaty has also made the moon a part of international law, with its “Moon Agreement” in 1979. This treaty was designed to establish a legal framework for the exploration of the moon. Despite the treaty’s shortcomings, multiple nations are working to build outposts on the moon in the coming decades.
Commercial space launch competitiveness act
Known as the “SPACE Act,” the bill was passed by the House of Representatives on May 21, 2015 and signed into law on November 25, 2015. The SPACE Act provides regulatory, financial, and legal support to the commercial space industry. It also streamlines existing space regulations and encourages private sector investment in the industry.
The bill provides a number of important updates to the space launch system, including updates to the licensing regime for launch port activities and re-entries. It also re-examines the third-party liability cap. It includes a cross-waver of contractual liability and updates the methodology for determining the cap. It also allows an independent study of the indemnification for space flight participants.
The bill also requires the Comptroller General to submit a report on the potential inclusion of government property in the indemnification regime. This report will be considered by the Senate and the House. The report will discuss the views of the Office of Commercial Space Transportation, NASA, and the Department of Defense.