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Library Law of Property Act.

Law of Property Act.

Law of Property Act.

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This Act is divided into 8 Parts as follows: General (I); Possession and land register (II); Ownership (III); Servitudes (IV); Real encumbrances (V); Building leases (VI); Right of pre-emption (VII); Right of security (VIII); Implementation of Act (IX).This Law provides for real rights, their content, creation and extinguishment and is the basis for other laws regulating real rights (art. 1). Real rights are defined as "the right of ownership, restricted real rights (servitudes, real encumbrances, building leases, right of pre-emption and the right of security). The essential parts of plots of land are things permanently attached to it such as buildings, forest, other vegetation and unharvested fruit, as well as the real rights relating to the plot of land (art. 16). A land register shall be maintained concerning immovables and related real property. The Law defines private and common ownership in Part III as well as the procedures available for the protection of ownership rights. Immovable property ownership is created by registration of title and transfers shall be notarised (arts. 118-119). Only the State may acquire immovables through occupation. The extent of immovable property ownership as regards natural resources, including water and forests, is defined in Articles 127-135. Article 159 states that bodies of water may be either public property, including the territorial sea, inland waters and other boundary waters or private, in which case they may be designated for public use. Article 162 permits fishing in public waters unless otherwise restricted by law. Servitudes are created by entry in the land register and the same provisions applying to the acquisition of immovables apply. Servitudes include those pertaining to access to water, livestock watering, grazing, and the right to protect an area for conservation purposes (arts. 186-199). Registered security over movables may be established over a registered patent, trade mark or other forms of intellectual property (art. 313).

Implemented by: Law of Property Implementation Act. (1996-10-08)

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