1. Discuss the following statement. Do you agree to it or not? Express your vision of this problem.

• Where there is no property there is no injustice.

John Locke, an English philosopher;

• Property is organized robbery.

George Bernard Shaw, an Irish playwright and

a co-founder of London School of Economic;

• Property is the fruit of labor; property is desirable; it is a positive good in the world.

Abraham Lincoln, the 16^th President of the USA.

Section b Reading and speaking

Before you read:

2. What is the difference between personal property and real property?

3. Which of these is considered real property?

a) an apartment building	f) farmland
b) a CD	g) a forest
c) railway tracks	h) a business plan
d) a large outdoor sculpture	i) a car
e) a factory

Real property in Ukraine

There are two types of property: real property and personal property. Most of the legal concepts and rules associated with both types of property are divided from English common law. Modern law has incorporated many of these concepts and rules into statutes, which define the types and rights of ownership in real and personal property.

Personal property, also referred to as movable property, is anything other than land that can be the subject of ownership, including stocks, money, notes, patents, and copyrights, as well as intangible property. Tangible property includes such items as animals, merchandise, and jewelry.

Real property is land and ordinarily anything erected on, growing on, or affixed to it, including buildings and crops. The term is also used to declare any rights that issue from the ownership of land. The term real estate and real property generally refer to land. The term land, in its general usage, includes not only the face of the earth but everything of a permanent nature over or under it, including minerals, oil, and gases, in modern usage, the word premises has come to mean the land itself or the land with all structures attached residential buildings and yards are commonly referred to as premises. The difference between real property and personal property is ordinarily easily recognizable.

The law of real property covers all rights and liabilities incident to the purchase, sale, possession, and ownership of real estate.

Full ownership of real property is recognized by Ukrainian law. The right of ownership is protected by the Constitution of Ukraine.

The Ukrainian Civil Code’s definition of “real property” includes land and objects located on land that are impossible to move without their depreciation and changing their designation. The Civil Code of Ukraine provides the legal framework for the acquisition, possession, disposal and use of developed real property. The Land Code of Ukraine provides a framework for the use and ownership of land.

Property may be classified as either private or public. Private property is that which belongs to one or more persons. Public property is owned by a country, state, or political subdivisions, such as a municipal corporation or a school district.

The real property rights are required to be registered according to Ukrainian law: ownership; proprietary rights: which include right of possession, easement, rights of use of land for agricultural purpose (emphyteusis), superficies, leases of real property having a term of three year or more, and limitations of proprietary rights, arising out of mortgages, decisions of courts and other competent authorities, court injunctions.

There are several registers where the ownership, proprietary rights and limitations are registered: the Register of Ownership to Real Property (excluding land), the State Land Cadastre, the Register of Prohibitions of Immovable Property Alienation, the State Register of Mortgages and the State Register of Encumbrances on Movable Property on Tax Liens (the tax liens over immovable property are registered therein as well).

Before notarization of the sale and purchase agreement of real property, a notary shall check all the registers. If any registration on alienation of a real property exist therein (namely, on the basis of mortgage, court decision etc.), the notary shall refuse the notarization of an agreement.

Buildings, constructions and land may be leased according to Ukrainian law. Leases are mainly governed by the Civil Code of Ukraine. The lease of land is governed by the Land Code of Ukraine and the Land Lease Act.

There no specific regulations governing commercial leases in Ukraine. Commercial leases are regulated by general rules contained in the Civil Code of Ukraine.

Real estate relations are governed by a system of regulatory Acts pertaining to various branches of law – civil, land and town-planning: - Civil Code of Ukraine, dated January 1, 2004 (“Civil Code”), - Commercial Code of Ukraine, dated January 16, 2003 (“Commercial Code”),

- Land Code of Ukraine No. 2768-III, dated October 25, 2001 (“Land Code”),

Principles and rules of international law and international treaties of Ukraine are generally recognized and form an integral part of the legal framework. Ukraine is a signatory to a number of bilateral interstate agreements on promotion and mutual protection of foreign investments which guarantee the observance of foreign investors’ rights relating to investment in real estate objects in Ukraine.

Word study: Key Terms

movable property	рухоме майно
tangible property	матеріальна власність
intangible property	нематеріальна власність
erected on	зведений, побудований
crops	врожай
premises	приміщення
incident to	властивий
depreciation	амортизація
designation	позначення
acquisition	придбання
disposal	розпоряджання
proprietary rights	права власності
easement	сервітут
superficies	забудова
leases of real property	оренда нерухомого майна
mortgages	іпотека
court injunction	судовий припис (заборона)
alienation	відчуження
pertaining to	що відноситься до