Property and its types: private property as a component of the real estate market

20.12.2023

private property

"Private property" - you have no reason to hang a sign with such an inscription on the fence, as the stars of show business do. The Ukrainian legal system knows without unnecessary reminders that your property is ndash; it is your private property, and you are its owner, and therefore a person protected by law. It's time for you to learn more about it. Shall we begin?

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 your own: 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 of the cult magical universe, even such a small thing was more important than all the wealth of the world). As for the larger picture, property goes far beyond the boundaries of individual things and beyond the boundaries of specific individuals.

  • state property

The country itself is the subject of law, i.e. the one who has power over property and can dispose of it. The state in the person of Ukraine does not simply represent the interests of the people, but operates property to ensure its welfare. Resources and assets in this case include enterprises, land 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

Territorial frameworks are narrowing from the scale of the country to separate administrative and territorial entities, and power is transferred to the hands of local self-government bodies and territorial communities. The main assets are vehicles, real estate, necessary equipment and others. All these resources help meet the needs of the population in health care, transport, education and other sectors.

  • Collective ownership

"Collective" is a broad concept, so it is necessary to clearly define its boundaries. The subject of the law is joint-stock companies, economic associations, cooperatives and other groups of persons who have decided to achieve the set goal by joint efforts. Property management can take place only after appropriate decisions have been made at the general meeting.

  • Private property

...

Not so fast! This topic requires more detailed consideration in the next section.

Subject and object, rights and obligations: features of private property

Property and its types

Even those who had no idea about it faced the concept of private property. Thanks to us, you will probably be able to determine what is included in this concept and how it should be operated.

  • Subject VS Object - who is who?

The subject can be any legal entity or individual, 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 own land plots. As for other objects in their possession, they bear the same responsibility for them as any Ukrainian.

In the concept of an object lies an innumerable number of tangible and intangible goods, starting with our favorite real estate and ending with the invention of the bicycle. Apartment in Kyiv or a private house in the Kyiv region, purchased securities or written literary masterpieces - all this can 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 joint - what is the difference between private properties?

With an understanding of what personal property is, there should be no difficulties - there is only "you" and "yours". As for other species, things are more complicated. Joint and joint ownership are obtained when buying real estate by joint efforts. Most often we are talking about property acquired in marriage. With joint ownership, both you and your other half have the same rights and responsibilities, with joint ownership, it is clearly written who owns how much.

  • Regulation at the legislative level

To ensure that your actions related to private property in the field of real estate are lawful, numerous legal acts monitor, among which the Constitution of Ukraine, the Land and Civil Codes, as well as urban planning regulations should be highlighted. They set out your key responsibilities and rights. The first include paying taxes and obtaining a permit for construction work on the land. The rights cover such transactions with real estate as purchase, giving, Sales, inheritance, lease, etc.

  • A reliable way to protect your rights

In Ukraine, there is a clear algorithm of how to legally protect your private property. You can't think of a better way to protect yourself than to register the ownership of bought or built real estate A simple procedure will require you to have documents and patience.

It will not be superfluous to remind you that in all matters related to real estate, you will always have a reliable assistant, adviser and associate - T.H.E. Capital. We do not get tired of working to provide you with quality service and the best offers in the market of our home country.

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