Acquiring and Loss of the Ownership on Things

Abstract

In this paper we have examined the main legal issues regarding the acquiring and loss of the ownership on movable and immovable things according to the Georgian law. 1st part of the paper is dedicated to the procedures of acquiring and loss of the ownership on immovable things. In particular, according to the Article 183 of the Civil Code of Georgia, in order to acquire the ownership on the immovables the existence of two elements is required: 1) the written agreement between the parties and 2) registration of the acquirer as an owner in the Public Registry. For the abandonment of the ownership on the immovables a declaration of the owner on the abandonment of the ownership and registration thereof in the Public Registry are required. The 2 part of the paper is dedicated to the procedures of acquiring and loss of the ownership on movable things. In particular, acquire of the ownership on movables is possible by several ways, which are the cases of acquisitions on the basis of a transaction, law and an act of the administrative body. Loss of the ownership on movables takes place on the basis of a transaction, by abandonment of ownership and destruction.