Act on the Right of Ownership and Use of Real Property. Country/Territory Iceland Document type Legislation Date 1966 (2002) Source FAO, FAOLEX Subject Land & soil Keyword Land tenure Land reform Ownership Foreign land tenure Cadastre/land registration Transfer Authorization/permit Geographical area Europe, Northern Europe Abstract This Act regulates the acquisition of the right to own or use real property in Iceland. It provides for the control of State organs of the purchase of titles in real property by foreigners. No one may acquire the right to own or use real property in Iceland, including fishing and hunting rights, water rights or other real property rights, whether by free assignation or enforcement measures, marriage, inheritance or deed of transfer, unless it is an individual who is domiciled in Iceland or is an Full text English