A SHORT GUIDE

By Bettina Richter

A. LEGAL FRAMEWORK

Acquisition of ownership

The rights on real property may differ in extent and kind (full ownership, usufruct, bare property etc.). This outline is restricted to the transfer of full ownership either absolute or joint. The basic way to acquire ownership of real property is through a contract between the owner and the acquirer that for a lawful cause (e.g. sale, gift) the ownership is transferred to the latter. The contract is necessarily vested the form of a notarial deed and needs to be registered in the competent Land Registry, failing which there is no legal transfer of title.

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