Restitution or compensation: The open property question

German unification brought in train the principle of restitution, that property in the east should be restored to its former owners where that property had changed hands after 1945, or between 1933 and 1945, other than through ordinary commercial transaction or gift. This essentially backwards‐looking measure was bound to come into conflict with the need to promote investment in east Germany in the present and future, as well as to overcome the profound gulf which the years of division brought. The article examines property restitution in the general context of unification, and draws comparisons with revaluation legislation in the 1920s and the equalisation of burdens in the 1950s.