omandireservatsioon

Omandireservatsioon refers to a legal concept, primarily within Estonian property law, concerning the reservation of ownership rights by a seller in a transaction. When a seller sells movable or immovable property, they can include a clause in the sales contract that retains ownership of the item until the full purchase price has been paid by the buyer. This reservation of ownership serves as a security measure for the seller, protecting them in case the buyer defaults on their payment obligations.

In essence, the buyer gains possession and use of the property, but legal ownership remains with the seller. This arrangement is typically formalized through registration in the relevant public registry, such as the land registry for real estate or a specific register for movable property, depending on the nature of the transaction and applicable laws. The reservation is extinguished once the buyer fulfills all their payment commitments as stipulated in the contract. If the buyer fails to pay, the seller, as the legal owner, has the right to reclaim the property. This legal mechanism aims to balance the interests of both parties in a sale where payment is made over time or in installments, providing a degree of security for the seller.