Final answer:
Owner A's right across Owner B's land to an unblocked view of the ocean is called an easement, specifically a view easement. This legal arrangement reflects Coase's theory on the importance of well-defined property rights to prevent and resolve disputes.
Step-by-step explanation:
Owner A's permanent right to maintain a view across Owner B's land without it being blocked is typically referred to as an easement, specifically a view easement. Easements are an aspect of property law that provides a non-possessory interest to use real property in a particular way while the legal title remains with the owner.
In this case, the easement benefits Owner A (the dominant estate) and places a restriction on Owner B (the servient estate), prohibiting certain uses of their property that would interfere with Owner A's right to view the ocean.
This concept aligns with economist Ronald Coase's theories on property rights and externalities.
Coase emphasized the importance of well-defined property rights in resolving conflicts that arise from competing interests. The right in question must be explicitly acknowledged and legally protected to provide a basis for negotiation or compensation if there is an infringement.
Under various property laws, such as the California Civil Code, owners are entitled to arrange their property rights, including the creation of easements, to ensure their views to prevail, enjoy their property to the fullest, and avoid disputes that might otherwise arise from undefined or conflicting interests.