The Constitution of Turkmenistan establishes that every individual’s right to live freely is protected by the state on the basis of law. Through the efforts of our Hero Arkadagly Serdar, all laws adopted and implemented in our country aim to ensure the free, prosperous, and dignified life of our people.
At present, the Law of Turkmenistan “On Property” is in force. It defines the types of ownership, the legal and economic foundations of property relations, and the conditions for the emergence of ownership rights. This law is aimed at the development of property relations and the protection of ownership rights. Article 4 of the Law sets forth the provisions concerning the right of ownership.
The subject of ownership (the owner of property) possesses, uses, and disposes of the property belonging to them in accordance with the limitations established by national legislation. The owner has the right to transfer their powers of possession, use, and disposal to another person, use the property as collateral, or otherwise encumber it. They may transfer the property into the ownership or management of another person or perform any actions with respect to their property, provided such actions do not contradict the legislation of Turkmenistan.
The owner may use the property for entrepreneurial activities or for any other lawful purpose. The exercise of ownership rights must not cause harm to the environment, violate the rights of physical and legal persons, or infringe upon the interests protected by the laws of Turkmenistan.
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