Acquisition of Property Inside Virtual Worlds

De Jure, 2013 Forthcoming

24 Pages Posted: 10 Mar 2012 Last revised: 31 Jul 2014

See all articles by Wian Erlank

Wian Erlank

North-West University - Faculty of Law; Tulane University

Date Written: March 9, 2012

Abstract

The aim of this paper is to take an introductory look at acquisition of ownership inside a virtual world. A brief summary of the methods of acquisition of property in South African property law will provide the background against which to discuss the new field of virtual property and give it some real world context. In most instances ownership will be derived from the terms of a contract, where a developer gives a user a right to use or own an object of virtual property. Sometimes this is just a use right, but at other times, and specifically in virtual worlds that emulate the real-world, users are able to acquire ownership in these items. There are also a number of other methods of acquisition that closely resemble those found in the real world. Ownership in a virtual item can be ceded, sold, inherited or lost in an insolvent estate. It can even be acquired in an original form.

The relevance of this field of property law becomes apparent when one realizes that virtual property ownership has far-reaching consequences from both an economic and social viewpoint. Because of this importance of virtual property from an economic perspective, it follows that whoever has ownership of these virtual assets are able to exert control over and derive financial interest from them. Due to this fact, knowledge of how ownership in virtual property can be acquired and what the corresponding rights should quickly become relevant to the practice of the law of property.

Keywords: virtual property, virtual worlds, acquisition of ownership, original acquisition, MMORPG

JEL Classification: K11

Suggested Citation

Erlank, Wian, Acquisition of Property Inside Virtual Worlds (March 9, 2012). De Jure, 2013 Forthcoming , Available at SSRN: https://ssrn.com/abstract=2019110 or http://dx.doi.org/10.2139/ssrn.2019110

Wian Erlank (Contact Author)

North-West University - Faculty of Law ( email )

Faculty of Law
Potchefstroom Campus
Potchefstroom, North-West 2531
South Africa
+27 18 299 1932 (Phone)

HOME PAGE: http://www.nwu.ac.za/p-fl/staff

Tulane University ( email )

6823 St Charles Ave
New Orleans, LA 70118
United States

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