LAW OF PROPERTY. THE CONCEPT AND ROOTS OF OWNERSHIP

Abstract

Property is an economic category reflecting the state of belonging of a certain good to a certain person and providing opportunity to freely own, use and dispose of it. The economic category of “property” has a legal meaning. The economic category of “property” has the scope of legal regulation. Goods as a component of property have a certain legal regime. Property has different legal forms: private property (belonging to one person) and joint property (belonging to several persons). The owner has the following legal powers: own, use and dispose of the property belonging to him/her. Legal authority of the owner regarding the property may be transferred to another person (in whole or in part). Acquisition of property, its transformation, including termination has legal mediation. All owners are provided with equal conditions for exercising their rights. Ownership right is inviolable. No one can be unlawfully deprived of his/her right or restricted in its exercise. Ownership is binding. The owner shall not use the right of ownership to the prejudice of human rights, freedoms and public interests. Activity of the owner may be limited or terminated only in cases established by law. The state shall not interfere in the exercise of ownership rights by the owner. Law of property. The whole of all legal regulators (provision of law, agreement, custom, judicial act) supporting ownership relations is united in a legal institution - “Law of property”. The law of property determines the legal regime of things, intangible results of creative activity, property rights, other items of civil law, which have a tangible or intangible form of their consolidation in civil circulation. - legal power of the owner over his/her property - individual legal attitude of a person to the thing which he/she considers as the property, - absolute nature of a person`s legal attitude to his/her property. Absoluteness indicates an unlimited number of persons opposed the owner with the obligation of non-interference. Limited power of the owner over the property is limited by the property rights of others in respect of such property. The concept of “Law of Property” covers the following categories: * Ownership * Limited property rights to someone else's property * Culture-specific property phenomena (right of operational management, right of economic management).