ECOVIS Miškinis, Kvainauskas ir partneriai advokatų kontora
Ownership rights under the Civil Code of the Republic of Lithuania is the right to manage, possess, use and dispose of an object of ownership upon one’s own volition, without violating the laws and the rights and interests of other persons. The owner shall enjoy the right to pass the entire object of ownership rights, or a part thereof, to another person, or only specific rights.
The subject-matter object of ownership rights may be physical objects or other property. Rights of ownership may be limited by the will of the owner, by law, or by a court judgement. If doubts regarding the limitation of right of ownership arise, it shall be considered in all cases that the right of ownership is not limited.
Ownership rights may be acquired in the following way:
1) by contract;
2) by inheritance;
3) by appropriating fruit and income;
4) by producing a new product;
5) by appropriating an owner-less item;
6) by appropriating wild animals, wild and domestic bees;
7) by appropriating stray and guardian-less domestic animals;
8) by appropriating a find or a treasure;
9) by obtaining, upon compensation, inappropriately kept public cultural items and other items (property);
10) by confiscation or else alienating objects (property) as a retribution for violation of laws;
11) by acquisitive prescription;
12) as otherwise described by law.
(continued in next issue)