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Austrian Cabinet Studying Draft of Law on “aryanized” Property

The Austrian Cabinet is studying the draft of a law setting up a procedure under which present owners of property originally “organized” by the Nazi may apply for and secure a ruling on whether their title to the property is clear.

The law, according to Finance Minister Reinhard Kamitz who drafted it, is intended to establish clear titles and thus remove a block to invest in property confiscated by the Nazi, later sold and still not claimed by the original owners. Minister Kamitz said that this unsettled state of affairs is harmful to Austria’s economy.