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Legal right to the exclusive enjoyment of a thing. It can be asserted against the whole World. Includes in particular the right to: (1) use a thing, (2) profit from a thing, and (3) dispose of or encumber a thing. Such right is always subject to the applicable law & social co-existence rules prohibiting causing harm to others.
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co-ownership (joint ownership, joint title) inizia ad imparare
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= more than > 1 owner of the same thing at the same time.
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own jointly the entire property
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(real estate, immovables) · land = plots/parcels of land, · houses, · units (flats, apartments).
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(personalty) = not real property (1) tangible = chattels (movables) eg.: cars, merchandise, jewelry, (2) intangible = rights eg. shares, bonds, patents and copyrights.
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= a unit owned by individuals who also jointly own common parts of the property, such as the grounds and building structure.
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Perpetual usufruct art. 232 § 1 kc inizia ad imparare
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Under specified conditions plots of land owned by the State Treasury or the local government (municipality) may be given to a perpetual usufructee with the right to use and collect profits, usually for the period of 99 years. The rights of perpetual usufructee are nearly as wide as the owner's. He may for eg. sell his interest in the land or take out a mortgage against it.
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= right to use and collect profits
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· ~ appurtenant · ~ in gross · line ~
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· pledge · registered pledge · lien [czyt: 'li:ən]
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the housing co-operative ownership right to a unit inizia ad imparare
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Compare: the housing co-operative tenancy right to a unit
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= transfer of interest in real estate to secure a repayment of debt · statutory lien (until 5 June 2001) · (registered) statutory lien · mortgage by legal charge (until 20 February 2011) · mortgage by demise
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