Acquisition of movable property by bona fide possession. Original basis.
Acquisition of movable property by bona fide possession. Original basis.
The right of ownership is acquired through a legal transaction, by statute of limitations or in other ways defined by law.
Whoever acquires possession of a movable property or a bearer's security on a legal basis, even if from a non-owner, without knowing it, acquires the ownership, except when the transfer of ownership of the movable property requires a notarial deed or notarization of the signatures.
When possession is in good faith, ownership may be acquired by continuous possession for 5 years. But if the possession of a movable object was acquired through a crime, he cannot acquire its ownership by prescription.
The acquisitive statute of limitations is the original basis for acquiring the right of ownership. It is a way to acquire a property right or a limited real right, through the actual exercise of the content of this right after the expiration of a period of time specified in the law. That is, the factual composition of the acquisitive limitation includes two elements: possession and expiration of a certain period.
Possession in itself is a factual state, which as part of the factual composition of the acquisitive statute of limitations must meet certain conditions, namely: exercise of factual power over the deed and intention to take possession.
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg