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Cluster 2: Property law - Ownership

Q: How do you become owner of an object?

1. Possession : you have primary control over the object - creation (e.g. Art) - finding ( e.g. Wood) - registration (e.g. House) 2. Transfer: - specific transfer of good: when you buy something not only the legal product but also the legal ownership is handed over. - general transfer: when the whole property of one person becomes the property of another (e.g. Inharitance or merge of businesses) 3. Statue of limitations: if someone takes possession of a part of time (century) he becomes the owner. The original legal situation doesnt hols since the physical situation has to align with the legal situation.

4 important questions on Cluster 2: Property law - Ownership

What are the limitations of ownership?

1. There are public and private law limitations (you cannot harm others with your property).
2. If you have a limited property right out of ownership and are granting the ownership right to another.

How do you become owner of an object?

1. Possession: you have primary control over the object
- creation (e.g. Art)
- finding ( e.g. Wood)
- registration (e.g. House)

2. Transfer:
- specific transfer of good: when you buy something not only the legal product but also the legal ownership is handed over.
- general transfer: when the whole property of one person becomes the property of another (e.g. Inharitance or merge of businesses)

3. Statue of limitations: if someone takes possession of a part of time (century) he becomes the owner. The original legal situation doesnt hols since the physical situation has to align with the legal situation.