It is correct to conclude that, in many instances, indigenous peoples have incurred harm as a result of western colonisation. And it is also correct to ensure reparation for that harm is both sought from and, where appropriate, effected, by the State. However, whilst reparation agreements have been negotiated, often the corresponding obligations or duties that arise from the transfer of State ëassetsí to indigenous peoples are not properly accounted for. This paper looks at some newly created rights and the absence of State control over those rights. In particular, this paper analyses rights created in lakebeds, riverbeds, the foreshore and, the seabed in New Zealand. It also explores the apparent lack of, or lag in, legislation providing local authorities (or town councils) with sufficient flexible powers to set, assess, and, collect rates and other ëlandí based taxes to fund their usual activities from these newly created rights. However, the traditional definitions of land improvements may need to be revisited to incorporate ëthingsí that historically have not been considered real estate. Finally, this paper considers whether, in a modern world, traditional definitions can survive or a new species of property rights need to be created.