ACQUISITION OF PROPERTY BY FOREIGNERS

Authors

  • Afet Mamuti Faculty of Law, University of Tetovo – Tetovo, Republic of Macedonia

Keywords:

Property right, owner, foreigner, immovable property

Abstract

Ownership is one of the oldest private law institutes associated with separating things from the community and adopting them for personal or group needs. Ownership determines the full factual and legal power of the owner over the particular object. This authorization entitles the owner to possess, to use, to enjoy and to dispose his things according to his will, by establishing relationships of property with others. Ownership can be acquired according to the law, on the basis of legal action, by inheritance or even by the decision of the state body. Ownership can be acquired by natural and legal persons of the country and foreigners.
Most contemporary laws, like that of Macedonia, recognize the possibility that foreign natural and legal persons may acquire property rights on movable things equally as citizens of the own country without any restriction. When it comes to the acquisition of ownership on immovable property, states can provide for certain restrictions, applying the principle of reciprocity. Macedonia's positive law to acquire a foreign property right requires parties to pursue formal proceedings and register them in public registers. Moreover, the law makes the categorization between natural and legal persons of the member states of the European Union and the Organization for Economic Cooperation and Development (OECD) with citizens from the other countries. For the first, are foreseen mitigating circumstances and in some cases equated with the country's citizens, while for the second applies reciprocity. Another change in the acquisition of immovable property also depends on the type of immovable item, as most of these are subject to special legal regimes.

References

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Published

2017-12-08

How to Cite

Mamuti, A. (2017). ACQUISITION OF PROPERTY BY FOREIGNERS. KNOWLEDGE - International Journal , 20(2), 677–682. Retrieved from https://ikm.mk/ojs/index.php/kij/article/view/5307