Moon Land for Sale - loopholes in UN treaties . . .

What is the Lunar Embassy's legal basis for selling extraterrestrial properties?

Answer:
Well, there are several parts to this answer. Firstly, if you want to sell extraterrestrial property (or Earth property for that matter) it must be yours. If the property never belonged to anyone, like the Moon or the other eight planets, you must establish a legal basis of ownership.
Contrary to popular belief, ownership by individuals of extraterrestrial properties is not forbidden. The 1967 UN Outer Space Treaty stipulates that no government can own extraterrestrial property, but it neglected to mention individuals or corporations. In 1984, the UN attempted to plug this loophole (which they where very aware of), by introducing the ill-fated Moon Treaty. That treaty forbids the exploitation of extraterrestrial resources (which includes ownership) for anyone, also individuals and corporations. The only problem is, that when it was up for vote, out of 185 UN Member Nations, only six supported it. The vast majority of Member States refused to sign it and did not sign it. It makes sense too. Imagine if we find oil on the Moon for example. Should we prohibit its exploitation for the entire human race by law? Surely not. So, to make a long story short, the loophole still exists today, and for a reason. (If you are in the mood for some heavy legal discussions...a very detailed discussion of this can be read on our Space Law page.)