I agree that property rights should be generally respected. I also believe in justice, and if International law happens to be just, it should be followed. I hope that the foundation of Israel would have generally followed those principles, but I need to do some research. I disagree, however, that the kind of multi-ethnic state that you are suggestion is a possibility at this point. Israel was meant to be a protection against violent anti-semitism that always seems to revive itself. Once a two-state solution is reached, hopefully things calm down in a generation or two so that fluid immigration between the states is possible.
PLO official: Reports about Abbas' resignation from political life very premature (Haaretz)
from the article: Why leave Judea and Samaria?