“Private property” - you don’t need to hang a sign with such an inscription on the fence, as show business stars do. The Ukrainian legal system knows without unnecessary reminders that your property is your private property, and you are its owner, and therefore a person protected by law. It's time for you to learn about this in more detail. Let's get started?
From big to small: types of property in Ukraine
On the scale of your personality, you can call property everything that you consider to be such for yourself: your favorite book, the cup from which you drink aromatic coffee every morning, or an ordinary sock (do not forget that for one of the characters in the cult magical universe, even such a small thing was more important than all the riches in the world). On a larger scale, property goes far beyond the boundaries of individual things and beyond the boundaries of specific individuals.
- State property
The subject of law, that is, the one who has power over property and can dispose of it, is the country itself. The state, represented by Ukraine, not only represents the interests of the people, but operates property to ensure their benefit. Resources and assets in this case include enterprises, lands and real estate, which are under the control of ministries and local authorities not to ensure personal interests, but for the general “good of humanity” within our native 27 regions.
- communal property
The territorial framework from the scale of the country is narrowed to individual administrative-territorial entities, and power passes into the hands of local governments and territorial communities. The main assets are vehicles, real estate, necessary equipment, etc. All these resources help meet the needs of the population in health care, transport, education and other sectors.
- Collective ownership
“Collective” is a flexible concept, so it is necessary to clearly define its scope. The subject of the law are joint-stock companies, business associations, cooperatives and other groups of persons who have decided to jointly achieve their goals. Property management can only take place after appropriate decisions are made at general meetings.
- Private property
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Not so fast! This topic requires more detailed consideration in the next section.
Subject and object, rights and obligations: features of private property
Even those who had no idea about it came across the concept of private property. Thanks to us, you will certainly be able to determine what is included in this concept and how to operate with it.
- Subject VS Object – who is who?
The subject can be any legal or natural person, be it you, your neighbor or your grandmother. In our country, subjects can be both citizens of Ukraine and stateless persons or foreigners. The main difference is that the last two categories do not have the right to receive ownership of land plots. As for other objects in their possession, they bear the same responsibility for them as any Ukrainian.
The concept of an object contains a myriad of tangible and intangible benefits, from our favorite real estate to the invention of the bicycle. Apartment in Kyiv or private house in Kyiv region, purchased securities or written literary masterpieces - all this may be your private property. The real estate market is considered one of its largest components and the most significant for the development of the country's economy.
- Personal, joint and shared - what are the differences between private property?
There should be no difficulty in understanding what personal property is - there is only “you” and “yours”. As for other types, things are somewhat more complicated. Joint and shared ownership are obtained when purchasing real estate through joint efforts. Most often we are talking about property acquired during marriage. With joint ownership, both you and your significant other have the same rights and obligations; with shared ownership, it is clearly stated who owns how much of what.
- Regulation at the legislative level
Numerous regulatory legal acts ensure that your actions related to private property in real estate are lawful, among which it is worth highlighting the Constitution of Ukraine, the Land and Civil Codes, as well as fixed urban planning norms. They define your key responsibilities and rights. The first include payment taxes and obtaining permission for construction work on the land. The rights cover such real estate transactions as purchase, donation, sale, inheritance, rent and so on.
- A reliable way to protect your rights
In Ukraine there is a clear algorithm on how to legally protect your private property. You can't think of a better way to protect yourself than to register ownership of bought or built real estate. The simple procedure will require you to have documents and patience.
It would not be amiss to remind you that in all matters related to real estate, you will always have a reliable assistant, adviser and colleague - THE Capital. We never tire of working to provide you with high-quality service and the best offers on the market of our native country.
