- Proprietorship or class of title
Main right / Primary real right: OWNERSHIP
Local nomen iuris: Nuosavybė
Definition: Ownership right is the right to manage, possess, use and dispose of a object of ownership right at one’s volition, without violating the laws and the rights and interests of other persons. (Article 4.37.1 Civil Code)
Main right / Primary real right: FULL OWNERSHIP
The most comprehensive right a person, the owner, can have over property (dominium)
Local nomen iuris: Nuosavybė
Definition: Ownership right is a right of owner to possess, use and dispose of a real property object owned by him.
Main right / Primary real right: LEASEHOLD
Local nomen iuris: Nuoma
Definition: A right to possess and use a leased thing for a payment. A contract of lease of immovable thing may be used against third parties if only registered in the public registers. The lease right may be the object of pledge. (Article 6.477, Civil Code)
Main right / Primary real right: POSSESION
Local nomen iuris: Valdymas
Definition: Possession as an independent real right to things which is the basis for acquiring property right according to acquisitive prescription is the actual holding of a thing with a purpose to have it as one’s own.
Possession is not considered an independent real right to a thing when the actual holder of a thing recognises another person as the possessor or owner. (Article 4.22, Civil Code)
Main right / Primary real right: CONCESSION
Local nomen iuris: Koncesija
Definition: ”Concession” means the authorisation granted under this Law by the awarding authority to the concessionaire in compliance with the concession contract under the terms and conditions set forth therein to engage in the economic activity and commercial connected with the design, construction, development, renovation, transformation, repairs, management, use and/or maintenance of infrastructure objects, to provide public services, manage and/or use state-owned, municipal property (including the exploitation of mineral resources) where the concessionaire assumes under the concession contract all or part of the operating risk and undertakes the relevant rights and duties, while the consideration of the concessionaire for the activity consists solely of the granting of the right to engage in the relevant activity and income from the activity or the granting of the right and income from the activity together with a consideration paid to the concessionaire by the awarding authority in light of the risk assumed by the latter. (Article 2,Law on Concessions)
Main right / Primary real right: FRANCHISE
Local nomen iuris: Franšizė
Definition: Under a contract of franchise, one party (franchiser) shall take an obligation to grant to the other party (franchisee) for remuneration for a certain period or without specifying the period the right to use in the business activity of the franchisee a complex of exclusive rights which belong to the franchiser (right to the firm name, right to the trade or service mark, right to protected commercial (industrial) information, etc.), while the other party shall be obliged to pay for that the remuneration determined in the contract.
A contract of franchise shall provide for the use of a complex of exclusive rights, business reputation and commercial experience of the franchiser to a determined extent (by establishing the minimum and maximum amount of use, or any other form). A contract of franchise may also determine the territory of use applicable to such exclusive rights, business reputation or commercial experience, or the commercial activity within which that will be used (sale of goods, rendering of services, etc.) (Article 6.766, Civil Code)
Main right / Primary real right: SUPERFICIES
Local nomen iuris: Užstatymo teisė (superficies)
Definition: The right of superficies is the right to use the land of another for building construction works or to acquire and possess the land by the ownership right or by the right to use the subsoil. (Article 4.160 of Civil Code)
Main right / Primary real right: RIGHT OF TRUST (one of real rights in Lithuania)
Local nomen iuris: Turto patikėjimas
Definition: The right of trust of property is the right of the trustee to possess, use and dispose of property in the order and under conditions defined by the trustor (Article 4.106, Civil Code)
Main right / Primary real right: SERVITUDE (one of real rights in Lithuania)
Local nomen iuris: Servitutas
Definition: A servitude is a right in respect of an immovable thing of another that is granted for the use of that thing (the servient thing) or a restriction of the right of the owner of that thing in order to ensure a proper utilisation of the thing in favour of which the servitude is established (the dominant thing). When the subject of the right of ownership of the servient or dominant thing changes, the established servitude remains due. (Article 4.111, Civil Code)
Main right / Primary real right: USUFRUCT (one of real rights in Lithuania)
Local nomen iuris: Uzufruktas
Definition: Usufruct is the right (the right of the usufructuary) of use and enjoyment, granted for a period of a person’s life or for a certain period that may not be longer than a lifetime of a person, of a thing of another and of its fruits, products and revenues. (Article 4.141, Civil Code)
Usufructs are registered in the Real Property Register.
Main right / Primary real right: EMPHETEUSIS (one of real rights in Lithuania)
Local nomen iuris: Ilgalaikė nuoma
Definition: Emphyteusis is a real right to use the plot of land or other immovable of another provided the emphyteutic lessee does not aggravate its quality, does not undertake to construct buildings, to plant perennial plants and perform other works thereon that durably increase its value both of the land used or any other immovable thing except upon the permission of the owner of the land (4.165, Civil Code)
Main right / Primary real right: TEMPORARY OWNERSHIP
Local nomen iuris: No such a right in Lithuania
- Information on owners
2.1 If owners are natural persons, information of the owner or proprietor or holder of the main right registered will usually comprise the following:
– Name of the owner (first name, surname) in the way governed by national legislation.
– ID of the owner.
– Person to whom the owner is married when acquisition is for the marriage or for matrimonial community of goods.
– Date of birth
However, normally there should not to be expected that information includes neither other identification numbers (passport, driving license, public health system number), nor the person to whom the owner is married in any case, nor civil status, nor address, nor owner’s e-mail or telephone.
2.2 In the event that the owner or proprietor is a company or legal person, information will usually include:
1. Name of the company.
2. ID of the company.
And it will not include other data such as registered office, date and place of registration, registration number, business address, telephone or e-mail.
Information of the Lithuanian land register system usually includes references to the:
1. Entitlement or substantial entitlement, act or contract which is basis of the acquisition for the proprietor.
Information of the Lithuanian land register system doesn’t include the existence of restrictions about the insolvence of the owner, right of disposal or any other type of restriction.
With respect to the information on restrictions on the person of the owner, existence conditions antecedent or subsequent are not included in any section.
About foreign trusts, or fiducia sucessoria, it will be registered who the trustee and beneficiary are. The number of trustees or beneficiaries who could be registered will be limited to two subsequent transmissions for people or upon 30 years limitation.
- Price LR information does not include the price of acquisition of the property ever.