Ownership

36 flashcardsby Dekano
Study these flashcardsFree · spaced repetition · iPhone, Android, Mac & web

All cards

1
What is ownership?
Ownership is the independent and general power of a person over a thing, including the right to enjoy and dispose of it, subject only to limitations by law.
2
Who is a natural person?
A natural person is a human being capable of holding rights and assuming obligations.
3
Who is a juridical person?
A juridical person is a non-human legal entity recognized by law as having rights and obligations, such as corporations or LGUs.
4
What is public ownership?
Property owned by the State, such as roads, rivers, or government buildings.
5
What is private ownership?
Property owned by natural or juridical persons.
6
What is principal property?
The main property, such as a house or land.
7
What is accessory property?
A property that exists to serve or complement the principal, such as a key or garage.
8
What is generic property?
Property identified by its class or category, not individually.
9
What is specific property?
Property that is individually identified or uniquely described.
10
What is corporeal property?
Tangible, material things like land, a house, or a car.
11
What is incorporeal property?
Intangible rights such as easements, shares, or copyrights.
12
What is movable property?
Property that can be physically moved, like a laptop or a bicycle.
13
What is immovable property?
Property that cannot be moved, such as land or buildings.
14
What is full ownership?
Complete ownership that includes the right to possess, use, enjoy fruits, dispose of, and recover the property.
15
What is naked ownership?
Ownership without the rights to use or enjoy the fruits, which belong to a usufructuary.
16
What is sole ownership?
Property owned by one person only.
17
What is co-ownership?
Property owned jointly by two or more persons.
18
What is a Special Power of Attorney (SPA)?
A written document authorizing another person to perform specific acts on the owner’s behalf, such as selling or mortgaging land.
19
Who is an attorney-in-fact?
The person authorized under a Special Power of Attorney to act on behalf of the principal.
20
What are the rights of an owner with full ownership?
The rights to possess, use, enjoy fruits, dispose of, and recover the property.
21
What is evidence of ownership?
Pieces of information showing ownership, such as receipts, tax declarations, or deeds.
22
What is proof of ownership?
The final conclusion based on all evidence presented.
23
What is a land title?
A legal document proving ownership of land under the Torrens system.
24
What are patent titles?
Titles issued by the government through grants such as Free Patent, Homestead Patent, or Sales Patent.
25
What does “title not subject to collateral attack” mean?
A title cannot be challenged in another case; it can only be questioned through a direct action specifically filed to annul it.
26
What is an annotation on a title?
A note written on a land title indicating claims, liens, or legal conditions on the property.
27
What is an extrajudicial settlement annotation?
A note showing heirs divided property without court intervention.
28
What are liens and encumbrances?
Claims or burdens on the property like mortgages, taxes, and easements.
29
What is PD 27?
A law related to agrarian reform granting land to tenant-farmers.
30
What is a cloud on title?
Any claim, document, or annotation that makes ownership doubtful or unclear.
31
How is a cloud on title removed?
Through a court action for Quieting of Title or documents to cancel invalid encumbrances.
32
What is a decree of registration?
The final LRA order confirming ownership, used to issue the Original Certificate of Title.
33
Are Spanish titles valid today?
No. They were discontinued and no longer recognized under PD 892 and PD 1529.
34
What is a tax declaration?
A document from the local assessor showing property valuation for tax purposes; not proof of ownership.
35
Who issues tax declarations?
The Local Assessor’s Office.
36
Can a corporation own land?
Yes, if recognized by the SEC and at least 60% Filipino-owned.
Study all 36 cards for free