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May 3 2013

Lunar Real Estate Agent Has 'Sold' 7.5% of Moon

The lack of a clear law on space property rights hasn't stopped one man from selling real estate on the moon and the other solar system bodies as well.

Entrepreneur Dennis Hope of Gardnerville, Nev., has sold millions of acres of property on the moon, Mars, and other heavenly worlds through his company Lunar Embassy Corp., Good Morning America reported this week. Yet many legal experts question whether such deeds would ever hold up in court. "As far as title goes, it's a gray area," international lawyer and space-law expert Timothy Nelson, who works for the firm Skadden in New York City, told in 2011.

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