Suppose after Lucas spends $975,000 for his two beachfront lots and the law changes to forbid him from developing either lot, I approach him with an offer. I offer to buy both lots from him for $300,000 on the theory that he has a strong Takings claim for compensation.
Since I bought the lots after the law was enacted forbidding development, how does this affect my Takings claims? If I purchased all of Lucas's rights concerning the 2 lots, including his right to resist an unconstitutional Taking, do I succeed to his reasonable expectations concerning his right to develop the land?
How should my claims be adjudicated?
