The content of the right of ownership

The owner shall be entitled to the rights of the possession, the use and the disposal of his property. The owner shall have the right at his own discretion to perform with respect to the property in his ownership any actions, not contradicting the law and the other legal acts, and not violating the rights and the law-protected interests of the other persons, including the alienation of his property into the ownership of the other persons, the transfer to them, while himself remaining the owner of the property, of the rights of its possession, use and disposal, the putting of his property in pledge and its burdening in other ways, as well as the disposal thereof in a different manner.

Objects of the right of ownership are the property (in the narrow sense of the word):

 - movable and immovable property,

 - things,

 - money (cash),

 - securities (except the non-documentary securities),

 - other cash property.

The content of the right of ownership is a set of following powers:

1. The possession right is legally provided possibility to carry out actual possession property; possession can be:

* legal, that is based on any legal basis (grounds);

* illegal, i.e. not based on legal grounds; the illegal possession can be honest - when the owner is not know and should not have known of the illegality of his possession and unfair - when the owner knew or should have known of the illegality of his possession;

2. The right of use is legally provided possibility to take from property its useful natural properties, and also to receive from it benefits, i.e. incomes, increments, fruits, an issue, etc.;

3. The right of disposal is a legally provided possibility to determine legal destiny of a thing. Such authority may be carried out through the execution of legal acts, in respect of such things.

       The owner shall bear the burden of maintaining the property in his ownership, unless otherwise stipulated by the law or by the contract.

The risk of an accidental destruction of the property or of an accidental damage inflicted on it shall be borne by its owner, unless otherwise stipulated by the law or by the contract.

The right of ownership shall arise in the acquirer of the thing from the moment of its transfer, unless otherwise stipulated by the law or by the contract. In the cases, when the alienation of the property is subject to the state registration, the right of ownership shall arise with the buyer from the moment of such registration, unless otherwise established by the law.

The transfer shall be recognized as the handing in of the thing to the acquirer, and also as the handing in to a transporter for the delivery to the acquirer or the passing to a communications agency for forwarding to the acquirer of the things, alienated without an obligation of delivery. The thing shall be regarded as handed in to the acquirer from the moment of its actually being placed into the possession of the acquirer or of the person, whom he has named.

 If by the moment of concluding the contract on the alienation of the thing it has already been placed into the acquirer's possession, it shall be regarded as transferred to him from this moment.

 The transfer of the thing shall be equalized to the transfer of the bill of lading or of another document of title to the thing.

 

Control questions

1 What is a subject of civil law?

2 What are the features of civil-law method?

3 What does the “legal personality” mean?

4 When does the legal capacity arise and stop?

5 What is the active capacity and what are its varieties?

6 What is a concept of the legal entity?

7 What are the features of the legal entity?

8 What are the organizational-legal forms of commercial legal entities?

9 What are the organizational-legal forms of non-profit legal entities?

10  What is a property as legal category?

11 What is the content of right of ownership?

12 What are the grounds for the accusation of the right of ownership?

13 What are the grounds for the cessation of the right of ownership?

14 What does a common property mean?