Defining the Legal Nature of Shared Rights Annotation

Abstract

The current article is dedicated to defining the legal nature of shared rights, which has twofold importance, scientific accuracy, and practicality.
 The roots of shared rights are in common property, which is part of property law. Therefore, logically, shared rights contain some elements of property law. In particular, the relationship of owners of shared rights with third parties is an external and property law-connected. This relationship has an absolute character. In addition, the internal fiduciary relationship between parties, which is related to the origins of the obligation law of shared rights, is also noteworthy.
 The existence of shared rights in the obligation law is caused by the internal, relational, and personal nature of the existing relationship, by the non-injury of the interests of the other parties in the use of the shared rights by one party. The legal content of the rights and obligations of the parties is expressed in the powers of using, managing, and disposing of the shared object, taking into account the interests of other parties, also in the power of canceling the shared right, etc.
 Shared rights have a merged legal nature: the internal relations of the shareholders are relative, and the relationships of the owners of shared rights with third parties are absolute. Accordingly, the specifics of this relationship depend on whether it concerns the internal rights and obligations of the shareholders or the interests of the co-sharers with third parties. The above-mentioned determines which field of civil law norms will be applicable concerning the mentioned relationship - property or obligation law