Property Ownership
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Property Ownership

The aim of purchasing property is to obtain TRANSFER of the property ie ownership.

OWNERSHIP passes to the purchaser only on registration of documents in a Deeds registry.

The OWNER is the person whose name is on the Deeds Registry – In the Normal cause of events:

A person can become owner of a property by PRESCRIPTION provided he has been in possession of the property for an uninterrupted 30 years, openly and if he were owner.

However, registry of Deed won’t change names unless a court order authority obtained.

State or other authorized institutions may EXPROPRIATE  property and thereby acquire ownership (repossess, Property in Possession)

Owner of immovable property divested (strip of) of his property upon his INSOLVENCY note made on Title Deed in order to prevent transfer of property from the insolvent estate without trustees consent.

CO OWNERS have an undivided share;

Joint purchase, marriage in Community of Property , bequest of beneficiaries

Shareholding relevant only for matters of profits, general expenses, purchase price undivided share don’t have to be equal.  Majority decision needed to sell.