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Ownership Act.

Document type
Land & soil
Ownership Agricultural land Servitude Common property
Geographical area
Black Sea, Eastern Europe, Europe, EUROPE AND CENTRAL ASIA, European Union Countries

This Act lays down various basic principles of ownership including joint ownership and condominium ownership, and real rights on another's property, and defines some other legal notions such as possession of property and holding of property. The status of all state- and municipally-owned objects shall be determined by way of separate acts. The transfer of the right of ownership or the creation of another real right over immovable property which is state- or municipally-owned shall be done in writing. The notarial form shall not be required. Foreign citizens and foreign legal persons shall not have the right to acquire ownership in agricultural land in this country (art. 29). An owner of an immovable property shall not perform such acts in its property which create obstacles, greater than the usual, for the use of an adjacent property. When, for the performance of some work in a property, it is necessary to enter another property the owner of the latter property must provide access. Real rights over another's property, to the extent that they are provided for by laws, may be acquired or created through legal transaction, prescription or other methods provided for by law (art. 55). Possession is the exercise of de facto power over a property which the possessor holds, either personally or through another, as his own. Holding means exercising de facto power over a property which the person does not hold as his own (art 68).

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