Acquisition of Ownership of Real Estate Constitutional Balance Between The Interests of An Original Owner And A Bona Fide Purchaser: Analysis of The №3/4/550 Judgment of 17 October 2017 of The Constitutional Court of Georgia / საკუთრების უფლების შეძენა უძრავ ქონებაზე – კონსტიტუციური ბალანსი თავდაპირველი მესაკუთრისა და კეთილსინდისიერი შემძენის ინტერესებს შორის (საქართველოს საკონსტიტუციო სასამართლოს 2017 წლის 17 ოქტომბრის №3/4/550 გადაწყვეტილების ანალიზი)

Zaza Tavadze

Abstract


An unfettered transfer of property rights represents an inherent part of the constitutional right to property. It is widely conceived as a cornerstone of modern free market economy. The regulation of property alienation has evolved considerably from the ancient times till today, when registration of immovable property is an accepted practice. Despite various regulatory models exist worldwide, almost every state has moved to set up a centralised public registry in order to ensure recognition of ownership of real estate. 

In its №3/4/550 judgment of 17 October 2017, the Constitutional Court of Georgia assessed the compatibility of Georgian regulatory model, which gives preference to a bona fi de purchaser vis-à-vis an original owner provided he/she did not have knowledge of defect when registering ownership, with the constitutional right to property. The Constitutional Court identifi ed the substance of a disputed law by analysing the relevant case-law of the Supreme Court of Georgia on the matter at hand to conclude that the existing rules do not preclude a purchaser from acquiring indefeasible ownership of real estate even if he/she is aware of a claim made against the records about a property in question of public registry. The Constitutional Court found the impugned regulation unconstitutional insofar as it does not ensure a fair and reasonable balance between legitimate interests of an original owner and a bona fide purchaser.


Keywords


Property, Registry, Alienation

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