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Project

Ownership on the divide: a legal framework for the possibilities and consequences of the division of ownership in Belgium (R-6408)

In essence, the proposed research focuses on the question whether it is or it should be possible to introduce a division of ownership of assets in Belgian property law, and to regard its tax consequences. Legally, the right of ownership provides the owner with a number of competences vis-à-vis the owned property, such as the right to dispose of the assets and the right to benefit from these assets. However, people are often confronted with the need to divide these competences between different actors. In such a case, a person transfers his assets to another, who manages that property for the benefit of a third. The second person would become owner in the sense that he is entitled to manage the goods, the third would be the owner in the sense that he is entitled to benefit from the goods. Moreover, the second person would not be owner 'for himself', but acts in the interest of the third. According to current Belgian law, this division of ownership is not possible. However, because of the large need to apply such a structure, it is often replicated by using some recognized legal figures. This practice poses many problems, because there is no fundamental 'groundwork' with respect to the division of ownership in Belgium. This causes (tax) authorities to struggle with such structures and makes public opinion suspicious. Through providing a fundamental groundwork and paying attention to its consequences, this project seeks to provide legal certainty in respect of this matter.
Date:1 Oct 2015 →  30 Sep 2017
Keywords:Public Law
Disciplines:Law