A joint owner can freely pledge, inherit or otherwise dispose of his share. Upon transferring his share, other joint owners shall have the right of first refusal. Movable Ownership Ownership of a movable object arises when the possession of chattels is transferred and the parties have reached an agreement concerning the transfer of ownership. The Property Act allows the ownership to arise also in case of appropriation of an abandoned object, finding, renovation, mixing or amalgamation. The Property Act has established the presumption of ownership of the object by possessor of the object.
Possession is defined as the actual control over an object or exercising real servitude.
Immovable Ownership Immovable ownership arises upon registration of immovable property in the Real Estate Register, unless otherwise set forth by the law. The transaction of obtaining the real estate has to be verified by the notary public. A contract of sale is not sufficient for the immovable ownership to enter into effect. Parties to the transaction are required to conclude a proprietary agreement which is the basis for registration of the immovable ownership in the Real Estate Register. A proprietary agreement is also required in case immovable property is encumbered or if the property right pertaining to the real estate has been transferred or terminated.