Concept of Ownership Flashcards
is the right of a person to the enjoyment and control of property including disposition and recovery subject to restrictions by laws and ROT
ownership
Define land.
earth surface including things permanently and naturally attached by nature
Define real estate.
land and all items attached to the land
Define real property.
rights, interest and benefits related to ownership
Define property as per Article 414, NCC.
all things that are and maybe objects of appropriation. Also a legal concepts pertaining to RIB related to ownership.
Give 3 classification of things. NCA
belong to anyone
res nullius - does not belong to anyone
res communes - belong to everyone
res alicujus - belong to someone
Give the 3 characteristics of property. USI
Utility
Susceptibility or appropriation
Individuality or substantivity
Classification of Property. 7
- Mobility / immobility -
- To whom it belongs
- Alienability
- Dependency or Importance
- Existence
- Materiality or immateriality
- Capability of Substituion
Properties that has the characteristics of immobility
immovables or real property
Properties that has the characteristics of mobility
movables or personal property
Owned in public capacity
public dominion
Owned in private capacity
private ownership
Property that can be subject to legal transactions
within the commerce of men
Property that cannot be subject to legal transactions
outside the commerce of men
Property to which other thing is considered dependent or subordinated
Principal
Property which is dependent upon principal
accessory
Property which enjoyment is vested in present time
Present property
Property which enjoyment is postponed to future time
Future property
Property that has physical form or substance
Tangible / Corporeal
Property that has no form or substance like copyright, stocks cert, bonds, promisory notes
Intangible / Incorporeal
Property that is replaceable by an equal and quantity
Fungible
Property that is irreplaceable
Non-fungible
Give 10 immovable properties accrdg to Article 415, NCC.
- lands, bldgs, roads
- trees
- attached to an immovable in fixeed manner
- status, reliefs, paintings
- machinery,
- animal houses
- fertilizer
- mines, quarries
- dock structures
- contracts for public works
Classifications of immovable prop. NIDA
by nature
by incorporation
by destination
by analogy