Under customary international law no nation has the duty to grant to aliens the right to hold real property. Although international law accords to an alien the privilege of participating in the economic life of the state of his residence, this privilege does not encompass the right to hold real property. The right to succeed to and hold real property is a matter solely within the competence of a nation. It is for each nation exclusively to regulate the acquisition and tenure of real property. National authority in this regard can be traced to the concept that the sovereign may have good reasons for placing restrictions on alien ownership of real property.
Willard L. Boyd, Jr.,
TREATIES GOVERNING THE SUCCESSION TO REAL PROPERTY BY ALIENS,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol51/iss7/3