What real estate in Ukraine is considered an ownerless and whether it is possible to become its owner? Before proceeding with the consideration of these issues that are directly related to the legislative framework for the acquisition of property rights, one should finally decide on the very concept of “ownerless real estate”.
What real estate can be considered ownerless?
Orphan real estate is one who does not have a certain owner, or he is an unknown, unidentified. These aspects are presented in Article 335 of the Law regarding the acquisition of ownership of the ownerless thing (see. Civil Code). Speaking with simpler and more understandable words, the ownerless real estate is real estate, the right of ownership of which is not owned by a certain legal or individual.
The property of real estate will not be ownerless if the ownership of such an object was officially registered in the register of ownership. The ownerless real estate is not recognized, which has the owner, but its whereabouts are currently unknown.
That is, redevelopment, insulation, vapor barrier and so on should be done when there is a legal owner. Otherwise, you can lose invested funds.
Acquisition of ownership of ownerless real estate
The process of acquiring ownership of existing ownerless property is the primary way of the emergence and formation of property rights, which can arise not only in an individual, but also a whole territorial community. It is necessary to be aware of all related nuances that make it possible to acquire ownership of such property. First of all, such an object should be registered with the body, which carries out state registration of the right to the object. In particular, we are talking about the local government in the territory of which the object itself is located.