When talking about property in the legal world, it often has a different meaning than you are usually used to. Goods include things and property rights. But what does this actually mean? You can read more about this in this blog.
Goods
The subject property includes goods and property rights. Goods can be divided into movable and immovable property. The Code states that things are certain objects that are tangible to people. You can own these.
Movable property
Movable property includes items that are not fixed, or things you can take with you. These include furniture in the house such as a table or cupboard. Some items are custom-made for a room in the house, such as a built-in cupboard. It is then unclear whether this cupboard belongs to the movable or immovable items. Often, when moving house, a list is drawn up of which items may be taken by the previous owner.
Immovable property
Movable property is the opposite of immovable property. They are property connected to land. An immovable property is also called real estate in the real estate world. Thus, it refers to things that cannot be taken away.
Sometimes it is not entirely clear whether an item is movable or immovable. This is when it is considered whether the item can be taken out of the house without damage. An example is a built-in bathtub. This has become part of the house so it must be taken over when the house is bought. Since there are some exceptions to the rule, it is a good idea to make a list of all the items that need to be taken over.
The transfer of immovable property requires a notarial deed. The ownership of the house is transferred between parties. For this, the notarial deed must first be registered in the public registers, which the notary takes care of. After registration, the owner gains ownership of it against everyone.
Property rights
A property right is a transferable material benefit. Examples of property rights are the right to pay a sum of money or the right to deliver a thing. They are rights on which you can value money, like the money in your bank account. When you have a right in property law, in legal terms you are referred to as a ‘right holder’. This means you have a right to a good.