Law of the Republic of Armenia about Property in the Republic of Armenia, 1990

LAW OF THE REPUBLIC OF ARMENIA ABOUT PROPERTY IN THE REPUBLIC OF ARMENIA The purpose of adoptinq law about orooertv is to provide: legal foundations for the formation and the development of market relations; for the consolidation of relations of tc!CUllU!Hlc oyslem::, aw1 p.t.Ol:J~l.Ly; dW.1 [u.L Lllt::' Uevelul-J!Utc!HL u.C different legal forms prior to the systematization of civil legislation for the Republic of Armenia. Article 1. Part I General Provisions Legislation for the Republic of Armenia Conct!rning J?z·upt::.H.:Ly. The present law establishes general provisions and principles for the legal regulation of property relations in the territory of the Republic of Armenia prior to the adopt ion of the New Civil Code. Property relations and owner responsibilities that are not regulated by law, are regulated by law I are regulated by the acting Civil Code of the Re?ublic and other legislative and sublegislative act.::; prumulya.Led acc...:unllng Lu Lhe prei:H:~nt: law. ' Peculia~ities of the realization of property concerning the right of historic and cultural morn.iment s I and the creation and use of other objects of discovery, invention, science, literature, art and intellectual property, are regulated by spr'!:cial legislacion of the Republic of A:r.·menia.. Article 2. Property Rights in the Republic of Armenia. Property right.s in t.he Republic of Armenia are known and defended by the law. The owner owns, manages, and uses the property belonging to him/her at his/her discretion. The owner has the right to take any measures regarding his/her property that do not contradict the law. 1 He/she may use the property for carrying out actions, economic o.r· oLln:!.r.wl::;lcc!, nuL ,!:JLUl1lLilL~t.l Ly L11e lctw. In cases conditions and bounds provided by the law, the owner may be under obligation to allow other people to use his/her property for limited use. The realization of property rights must not damage the environment, violate the rights and leqal interests of citizens, enterprises, institutions, organizations or the state. Article 3. Use u.( ClLl:.!;1:::!llS' La.lJUL" lJy OWU.t:::!L". The owner has the rights, conditionally and within the bounds provided by legislation of the Republic of Armenia, to sign contracts with citizens in realizing property rights belonging to him/her concerning labor 1 including that of hired employees. Irrespective of the property form, based on which the citizen'$ labor is used, such payment and conditions of Labor as well as, other socio-ecunumic gua.r1:1ul.et;::; c1.r~ pruvlU~ll LuL· him/her, that are anticipated in legislation of the Republic of Armenia. Article 4. Beneficiaries of Property Rights. ~,::.n.,:,fi r.i ;:i.1'."i At:: nf prnpArty right.i::i in the Republic of Armenia are the governmental of the Republic of Armenia. Legal persons and citizens, other states, international organizations 1 :foreign persons and citizens. The property rights of partial or joint common property can belong simultaneously to several persons, irrespective of the property form. l;'n'l""mA nf P!"npei.rt" y "Right.R. Property rights exist within the citizens' property, and in the collective and state propercy forms of the Republic of Armenia. 2 Consolidation of property forming the property of citizens, legal persons and states is permitted: It is also permitted to create joint enterprises whose participants are of mixed property forms, including the Republic ot Armenia, its citizens, and legal persons, and that of foreign states, its citizens and legal persons, Ot.her prcpcrt.y form.::i, not p.rovidcd by t.hc pro cent la.we mci.y b, :: established by legislative acts of the Republic of Armenia. The state creates conditions necessary for the development of all property forms and provides for their defense. Article 6, Armenia. Objects of ~~operty Rights in the Republic of Objects of property rights may be land, bowels of the earth, water/5 (river;';j and lo.kc □), o.ir opo.ce, vcget.ation and animal life, encerprises, organizations, buildings, structures, equipment objects of material and spiritual culture, inventions, money, stocks and other property. Unless otherwise provided by law or a contract, t.he results (product.ion and income) of economic usage of property belong to the owner of the property. Registration of the objects of property rights is determined by l.h~ Cuuncil 0£ Mini.eiter.s of the Republic of Armcnio. Article 7. Presenting Exaction Upon Property of OWner. By .the responsibilities of a legal person exaction may be placed on any property that belongs to him/her by property qht or by operative management right, except for the cases provided by the present law. The owner is not responsible for the duties of legal entity L:.Lt!c:tl~U Ly him/her, and the latter iei not responsible for the owner's duties either, exce~t in those cases legislative acts of the Republic of Armenia. J The citizens are responsible, by all property rights, for the 1-)LUIJt!L Ly lit!lu11<:,lll':::I Lu Llu:~m. A Property list of citizens who are not subject to action by creditors' demand, is included in legislation of Civil Action of the Republic of Armenia. Part II Property of Citizens of the Republic of Armenia Article e. Citizens' property is created and multiplied at the expense of labor incomes received from their participation in public production and enterprise activity, from the operation of collective economy, and at the expense of incomes received from the means invested in the loan institutions, shares and other stocks, and at the expense of obtaining property from other means permitted by law. Article 9. Citizen's Exceptional Right of Disposing Production and Creative Abilities The citizen has an exceptional right to dispose his abilities of production and of creative labor. 'T'hP rlrizPn r:;i rriA::. nut that" rights independently or by labor contract. Article lU. ~itizen's Kight of Investment in Property of Enterprises or in Other Economic Development. The citizen has the right by the owner's agreement, to invest in the property of any enterprise, economic organization, agricultural or other labor economy and participate in the :allocatior. of: thF? prr'lflr rif t"h;it" Pnt-Prpri~P ::.rr'nr<ling r.o t-he>: extent of his /her deposit. Article 11. Allotting Land to Citizens by Property Right. 4 Land is given to the citizens of the Republic of Armenia, by property right, for operating an agriculture enterprise, for gardening, for the construction and maintenance of homes, as well as, for satisfvinq other needs provided by law. The order and condit-ion of land allotment I by prope.rty right is determined by the Land Code of the Republic of Armenia. Article 12, Objects of Citizens' Property Right, Objects of citizens' property right can be enterprises of duct ion or those which perform a service; organizations; buildings; structures; land under construction and other real estate; other obiects of citizens property riqht include means of t~ansportation except for the objects of property enumerated in the 4th part of the present law, Furthermore, vt.lit::.r. uLjec:t6 of citizens property right can be dwell:L:19 houses i country houses; orchard-houses with the land plot adjacent to them, land plots a.nd their saplings; shares and other stocks; farming or office equipment, and objects of household use. All produce, materials, or services, both sold or unsold, finished and unfinished, and are considered objects of Citizen's Property Rights. A pen:JUH wliu hctt,J l..Vlll]:.Jlt:!Lt::ly .!:JdlJ. lLb:,/ho:::L ~hct1.e fuL du apartment, house, garagc 1 other cooperative dwe1ling that he/1she has designated for use obtains a property right on that property. The renter or his/her family members living in the state or x:mblic housing unit have the right to buv the corresponding apartment or house from the owner. The property of citizens' operating labor, including finished products awl revenue, ctLe Lhe cum111uH l)ctLLlal lJ.LU.LJ~LL.Lt;;!::::; u[ Lh~ persons jointly operating the ente·r:'t,)ri.se and at:e reg1.1la.te.d by the 118th l19-123th articles of the Civil Code of :he 5 Republic of Armenia, unless provided otherwise by the r(')rYf"rrlrt"."l ~lgn;.:,d flpt·wPt'en t'ht•~m The value and compcsition of a citizen 1 s property that obtained from the profits received from the use as income, savings, and rent labor, are noc: limited. The law establishes specifi::: kinds of property that cannot form the citizens' property. Article 13. Objects of Property Right of Agricultural A farm, as a property, can have dwelling-houses, economic structures, land plots and saplings, live stock and poult:cy agricultural equipment, modes ot transportation and other inventory for the operations of the enterprise, The produce livestock, and materials sold or exchanged on the farm and the income received is the property of the farm and is used at his/her discretion. Tha prop\W.rty of the :farm belonrys to 1.ts m,:,mh1<>r~ hy ;;i <""nmm,""Jn joint property right. The farm is registered in the name of the head of the farming family. The rights ot the tarm are recognized based on the a~t of registration of the latter's name and gianted by the Executive Committees of village, settlement and City Councils of People's Deputy. The place of plots at the disposal of the farm as is their location, dimensions, cadaster valuation. The,. property of th-a farm, including the acrricultural production is disposed, used and governed at its members' discretion, according to the order established by the 128th 134th articles of the Civil Code ot the Republic ot Armenia. The rules of the present article are used regarding the property of citizens' auxiliary farm and farming family, Part III 6 Article 14. General Provision on Collective Property. Collective property is the property ot enterprises, agricultural collective farms, cooperatives, joint- stod companies, economic associations, social organizations anc other incorporQ.tion considered legal entities. The formation and increase of collective property is provide( by allotting the ..;:tat'=' entorpri,gea, :1,;: ;i prrir,,?'.1'.'ty, or. or lease, to citizens or legal enttties. Who use the recei.vec income for repurchasing the state property. The formation and distribution ot collective property is alsc provided by reforming the state enterprises into join-stock companies, joining the property of citizens and other legal persons on a voluntary basis, for the creation ot cooperatives, joint- stock companies, other economic companies and ascooiations. Article 15. Property of Collective Enterprise. 'I'he property of a collective enterprise 1s tormed when the state enterprise is transferred to the work collective as a property, when the existing state enterprise is denationalized, when leased property is repurchased, or when property is obtained in other ways provided by law. The property of a collective ent:erpris~, in,.:::luding produce and received income, is the common property of the enterprise, Article 16. Deposits of Workers of Collective Enterprise into Property and the Extent of Their Investment. Workers' deposits are determined by the property of a collective enterprise. These deposits follows rules for deposits ascribed to work colleccive members as set far~ in the rcgul~tiono of the denation~lization of st~te QntQrpriso~. The amount of the worker's deposit is paid into the property of land or other lease enterprise, as well as, the worker's 7 investment 1.n its surphi.s increase of property after tl".e development of th~t ~ntQrprise. '!he order of ownership and the formation of deposit rules is ascribed to the work collective member in the regulations of the denationalization ot state enterprises, which is written in legislation of the Republic of Armenia. Article 17. Paying Deposit. Value of Worker and Terminating Work Relations with Enterprise. The vdluc of the invostment in the collectivQ is paid to the worker who has terminated employmeut with the enterprise, and it: the termination occurs due to the death of the worker, the investment will be paid to the heirs of the deceased. Article 1.8. Paying Wo~kers the Value of the Inveatme.nt in Case of Liquidation of the Collective Enterprise. In case of liquidation of the collective enterprise, the value of t:hc invc:::itmcnt io paid tot.ho workers or their heirs from the property that enterprise's that has been divided among other investors, eveditors, and financial institutior..s with whom the collective enterprise has dealt. Article 19. Property of Lease Enterprise. Property of lease enterprise consists of product.ion, received. profits, and other property obtained by the enterprise. The management of the lcaoc cntcrprioc bucincoo ond of the work collective members' incomes are stipulated in the leasing laws of the Republic of Arme:1ia. Article 20. Property of the Collective Farm. The property of collective farm was formed based on the existent soviet laws which designed collective farms, as a means of uniting the agricultural property in a manner F.l.ccording to .sociali.'!lt principle::.. 8 The agricultural collective farm, as a property, can have land plots and saplings, live- stock and poultry, equipment tc agricultural and inventory, and modes of transportation. The produce and received income are the common property of the collective farm and are used according to the order determined by the charter (regulations) of the farm. The. colloct:ivo farm member ;i.t hi,;,/hr:;,r t:li ~rro<>l'lrir, r;e.t"I t"r?">:'mi.r,;i.t<? his/her membership and leave the farm; upon termination, he/she will r:eceive his/her portion of land in the collective tarm, as well as other investments, unless provided otherwise by legislation of the Republic of Armenia. The order of joining the collective farm is determined by legislation governing that farm. Proporty of Cooper~tiv~, The property of a cooperative is formed through investments by its members; moreover, property is generated from non­ inventory investments, from money received in the sale of produce, and from income received from its realization, and other activity provided in the chapter of the cooperative. Article 22 • Allocation of Cooperative Property in Case of .its Liquidation. In case of liquidation of the cooperative the property that has been left after all debts have been paid to banks, vendors, and other creditors, is allocated between the cooperative members. Article 23. Property of Economic Association. 'I'he property of an economic association is formed from the collective investm~nt of m,amb,..rc 1 and from t.ho proport.y obtained during business a:lowed by the law. Article 24. Members of Economic Associations. 9 Members of economic associations can be citizens, enterprises, organizacions and insticuc1ons, unless otherwise restricted by legislation of the Republic of Armenia. Article 25. Investments of Economic Associations' Members. The investment combinations of members of economic monetary means stocks, and ether property, Article ~o. ~roperty of Joint ~tock-companies. A joi~t stock-company is the owner of property that has been fo::-:-med from the sale of stocks or of other financial assets allowed by law. Stnck Ownermhip. Owners of stocks can be the citizens of the Republic of Armenia, enterprises, institutions, organizations, as well as, tore1gn states, corporations and citizens. Article 28. Restructuring of State Enterprises into Joint stock-companies. The state enterprises by the joint decision of the state body enterprise, can be reformed into a joint stock-company by issuing stocks worth the total of the enterprise property va.1,,ue, The vield received from the sale of stocks, after the payment of incurred by the state enterprise, are paid into the corresponding budget. The share of separate share-holders' stocks in the joint "t.ock-company it.1 not limited 1.mlo:;;ss oth0rw'.1.,;:0 not~,:1 in th0 foundation charter of the joint stock-company. If enterprises, as enumerated in the 34th article of the present law, governing ObJ ects of state property, are 10 restructured fully or parti.ally into joint stock compani.es, nnt lPR~ ~h~n S1 perc~nt of the entire. stock folio and its shares must be registered with the state. The rate of exchange for stocks of state monitored joint stock-companies is subjecc co periodic:ctl putJllcctL1uu. Article 29. Property of Economic Associations. Economic association of enterprises and organizations ha.s a right to the property that has been given voluntarily to it l::y it-~ m~mhr>r,:: Hnrl t·n that propert y which has been gained through the economic activity of the association. The economic association does not have a property right to the property ot the enr.erpr1ses and organ1;.,::i:it.ic.m::,, Ll1ctL c1.1:·~ lLu members. Article 30. Allocation on gconomic Association's Property after Terminating its Activity. The p:rrip,,..rty, lr,fr:-. after terminating the activity of the economic association, 1s allocated between its member enterprises and organizations. Article 31. Property of Social Organizations and Funds. Social ~rganizations including benevolent and other philanthropic groups, as a property, can have buildings, structures I housing stocks and other shares that are the necessary re<C1rn1r<""P?:: frir p0.rforming duties set forth in their charters. The property of social organizations I funds) can be enterprises created to financially supporc cf1e ~cc.lvl.Lles ::H:::!L. forth in their respective charters. Article 32. U'se of Property of Social Organizations (Funds) after its Liquidation. 11 Property, left after the legislation of social organizations (funds), is t.)<:t.,.rl fnr rhP r,11rpn<1P1> proviC'l..,:,d by thF>iY rh,1r~Prc:, unless otherwise provided for in legislation of the Republic of Armen.L:1.. Article 33. Property of Religious Organizations. The property of religious organizations can consist of buildings, objects of worship, objects of social, and benevolent importance, financial sources and other property rtQCQSQary for tho maintenance rif rh1:>i r -.::::Prvl rr Religious organizations have a r.tght that property which has been obtained and created from private financial sources, from the donations ot citizens, organizations or state offices as provided by law, Part IV State Property of the Republic of Armenia Article 34. of Armenia. Composition of State Property in the Republic The state property of the Republic ot Armenia consists of all public property and the property of administrative-territorial regions. Article 35. Property of the Republic. Th~- Republic' c property oonsi$'tS wholly or in p;:,i't:"t of th"" property of governing bodies and of Furthermore, it includes all of the government in power, the following: energy pipelines of national importance; energetic, commun1cat1on, and information system; modes of transportation; land (if it is not given to the subjects of non-state property rights); raw materials and natural resources needed for industry; the military forces, and materials used for the defense, rc::ic:i:·voiro .::,.nd hydro-reclamation structures: m.- 1r. 1.tm0nts of 12 historic and cultural values; th'Z! governmental treasury, state b.;:,i,nk.;i, ant.,;i.rpris.:os and org;;.ni.:i::.i.tions; insur.;..noe policico, financial reserves and other stocks (funds) of the Republic; and other property. Article 36. Formation. Property of Administrative-Territorial The property of administrati.ve-terri tori.al form21tion consists of property of the state power and governing bodies of that formo.tion 1 financial r~source0 of the local budget, houoing supply and its exchange by the Local Councils' of People's Deputy as well as, agric·.1ltural, trade, public service enterprises, transportation systems, industrial concerns and construction companies, institutions of national education, culture, health, and other property. Article 37. Disposition and Management of State Property. The m;;.\intenance :and mans.gornont of tho st;..t.e proporty, on behalf of population, (population of the administrative­ territorial regions) are carried out by corresponding Councils of People's Deputy and state bodies authorized by them (Executive Committees) . Article 38. Considering Property Created or Obtained at the Expense of the Budget or Other Financial Sourocc in the Ropuhlio for Looal Property. The property being created or obtained at the expense of the budget of the Republic of Armenia, and its administrative­ territorial regions, and similar property purchased by enterprises, organizations, institutions subject to the state, is correspondingly considered property of the Republic or of its administrative-territorial regions, unless otherwise provided by the law. 13 Article 39. Separation 0f Responsibility of Associations of the Republic of Armenia and Administrative­ Territorial Ones. Associations of the Republic of Armenia and administrative­ territorial ones are not responsible for the obligations of each other. Article 40. Property of Land and Other Natural Resources. Land and other natural reso·..J.rces comprise the national wec.lth of the Republic, and are considered to be the property of the Nation. The use of natural resources and ownership of land is allotted according to property rights as well. The Republic of Armenia owns, develops, and distributes land, and it:s other natural .1:·eaourccs 1 according to ita popuL:1tion. Article 41. Rules of Use and Maintenance of Water and Other Natural Resources in the Territory of the Republic of Armenia and in the Frontier Territory of Border States. The use and maintenance of waters and other natural resources in the territory of the Republic of Armenia and in the f1.untie1: regions of borde~- ~tatel!'l il!'l carried out. through agreements between the Repu:Olic of Armenia with those states. Article 42. Delivery of Land and Other Natural Resources of the Republic of Armenia to Other States for Use. Land and other natural resources of the Republic of Armenia can be turned CJver to other states for use by the decision of the Supreme Council of the Republic of Armenia or according to 1..h~ LUlfzc:i l;:;!::;Lcil..Jll;:,ll~U Ly lL. 14 Article 43. Possession, Use, and Maintenance of Land Plots and Natural Resources by the Republic of Armenia in Other States. P0.!1.!le~~ion, use, and maintenance of le1.nd plot::. ct11U uLlttc!L natural resources by the Republic of Armenia in other states is done according to legislation acts and by interstate agreements of those states. Article 44. Solving Disputes Between Other States and the Republic of Armenia Related to Use and Allotment of Land and Natural Resources. Die.putee; that have arie;en between other .state~ and the Republic of Armenia related to the allotment and use of land, and other natural resources, are investigated according to mediation procedures or other rules established by law. Article 45. Property Located Outside of the Territory of the Republic of Armenia. The possession, use and maintenance of citizens', collective awl ~l:.at.e µ.i:vperty rights outi:>ide of the territuL·y v( Lln::: Republic of Armenia are determined by the standards of that State, by the standards of the autonomous region in which the property is located, as well as, by interstate agreements. Article 46. Other States', International Orcranizations', Foreign Legal Persons' Property in the Republic of Armenia. Located i.11 t..he territory of the Republic. of ArmenL:t a.Le; objects of agricultural, economic, and social importance; Moreover, there are enterprises and organizations forming the property of other states, international organizations, foreign legal persons and citizens, functioning in the territory of the Republic of Armenia, at their own expense after the 15 implementation of the present law 1 based on legislative acts or the ~epublic or Armenia. Article 47. !rull or Partial Management Right of State Enterprise Property. The property (inventory) being state property and attached to rh~ o:tt-:cit-i<> ,::.nt-,:,,rpri~P, hr,,lrina.::: t· o it· hy f1111 cir p:1.rti:il management right. Article 48. ~ossession, Use, and Managemen~ of State Enterprise Property. Carrying out the. full or partial management rights of the property attached to it, the enterprise possesses, uses 1 and maintains the property at its discretion and fulfills every kind of functio:ri rH".'ll" r:-nntr:,r"li<"."ting t.hP l.ciw. Unless otherwise provided by legislative acts of the Republic of Armenia, the rul~s of property rights are used regarding the tull management rights. Article 49. Property. Competence of state Bodies to Manage State State bodies which have the authority to manage the state proporty . solvo questions conr:<"?:t:"rd.ncr thl? enterprises and concerning the establishment of goals of their activity, and concerning tf.e reformation and liquidation of enterprises. Furthermore these bodies monitor the ettective use of the state property entrusted to them and to other powers in accordance with the legislative acts of the Republic of Armenia concerning enterprise. Art:i.olo 50, an llnt.er:prise, Reforma.tion or Liquidation to Work Collective. In cases where a decision has been adopted for the state enterprise to be reformed, .liquidated or declared insolvent by 16 an authorized state body, the state enterprise can: be turned ov-ar t..c ~ coll~ct::Lve £or rent: be rc.fc:rmcd into an.::ir.he-'r;­ enterprise based on collective property; be sold; or be auctioned to private persons, collectives, other state br:idies. It an enterprise undergoes reform, liquidation, or bankruptcy procedures the work force (collective) of the given enterprise has the privileged right to rent or obtain it as a property. Article 51. Solving Disputes Between State Bodies and Work As cases show in the 49th article of the present law, disputes that have arisen between the state body and the work-force are solved through state arbitration. Article 52, Operative Management of State Institutional Property. The property attached to a state institution as state property and supported ar.; ouch in t.he atate budget .:to ito owner, i,3 under the operative management of that institution. Article 53. State Institution's Right to Independently Manage Income Received from Economic Activity. State ins½itutions, as allotted for by the state budget 1 that can carry out an economic activity, similar to those activities mentioned in cases found in the legislative acts of the Republic of Armenia, obtnin a right to partiolly dispo~e of the income received from such activity; furthermore, these institutions can partially dispose of the property obtained at the expense of that income according to the law and rules established by the Government of the Republic of Armenia. Article 54. State In.stitution's (Organization's) Responsibility to its Obligations. 17 State Institutions (organizations) are responsible for its fi~aM~i~l 0hlig~~inn~ If the state institution (organization) does not have sufficient means, them the owner of the corresponding property 1s responsible for its financial obligai:::.ions. Part V Property of Joint Enterprises, Foreign Citizens and Legal l?ersons, Foreian !':H:';;if-..,. "l ;:ind Trtt- i:>rnAt.1on;i l Org;::i niza.tions Article 55. Property of Joint Enterprises. Joint enterpr1ses with the participacion of cicizens, legal persons of the Republic of Armenia and foreign citizens and legal persons, in the territory of the Republic of Armenia, are created in the form of joint stock-companies and economic associations. They can, as a property I have property necessary for carrying out activiti0si provi rl,:;,rl in thRir foundat" i on deeds (charters) . Article 56. Property of Foreign Citizens. Provisions of the present law related to the property of citizens' of the Republic of Armenia apply to foreign citizens' property as well. Howeve!:', property rights regarding a foreign citizen's land is excluded. Article 57. Property of Foreign Legal Persons. Foreign legal persons, according to the rules established by legislation of the Republic ot Armenia, may possess as property industrial and other enterprises, buildings, structures and other property in the territory of the Republic of Armenia for the purposes of carrying out their economic and other activities. 18 Article 58. Property of Foreign States and International Organizations. Foreign states and international organizations in the territory of the Republic of Armenia, having property rights rnay have property necessary for carrying out diplomatic, consular, and international relations, according to the rules egtabli~hed by int~~n~tinn~l ~cn~r~r~~ =nrl 7Pgi~,~~~nn of the Republic oE Armenia. Part Vl Guarantees and Preservation of Property Rights Article 59. Guarantees of Property Rights. The Republic of Armenia guarantees the stability of relations @~tablished according to tho pre~Pnt l~w In cases where such legislative acts are adopted by the Republic of A:rmenia, in which pro?e:rt.y r-igh.t.s are te:rmina.t.ed., damages caused to the owner, resulting from the adoption of the acts, by the judgment of the court, are fully compensated to the owner at the expense of the Republic. Equal preservation conditions of property rights are provided for citizens, organizations, and other owners by legislation. Article 60. Preservation of Owners' Interests and the Termination of Their Rights in Situations Provided by Law. Provisions are established for the termination of property rights in connection with decision to :r.eallot land plots where houses, structures, constructions, or trees belonging t;o an owner are located; Moreover, provisions exist that relate to decicions madQ by ~tatQ bodies that do n0r int~n~ n7r~rr1y rn take property from an owner. 'The termination of property rights is allowed only in cases where rules are established by 19 le9islative acts of the Republic of Armenia which fully the Lerminacion of vropeL·Ly righcs. In deci3ion to terminate property rights, if the owner does not agree to it: I can not be fulfilled unless that dispute has been solved by the court, by state arbitration, or by an intermediary court. D11ring thP. 1nvF-stigation of :::he dispuce, all questions relat:.t""d to the compensation of the owner for the damages caused will be resolved, Article 61. Invalidation of Acts ~,iolating Owners' Rights. If an owner's or an other persons' powers of possession of use, or of maintenance on property belonging to them are violated resulting from acts inconsistent with the law adopted hy th""' ln,:-;:il hnrly of t.he ,c;t ;::i ta Power or by t:.he ;:;tate govE'!rning body, then these acts are recognized ~s non-valid, based on the clairn of the owner, or of that. per:scin whose rights have been violated. Damages caused to citizens, organizations, and other persons, resulting from -che above-mentioned acts, are fully compensated at the expense of the state power or corresponding governing body. The President of the Supreme Council of the Republic of Armenia, Levon Ter-Petrosian Secretary of the Supreme Co·.mcil of the Republic of Armenia, Sahakian October 31, 1990 City of Yerevan, Republic of Armenia 20 Ara ENGLISH TRANSLATION BY; ICMA (USAID Contractor) Real Estate Investment Regt:lation Section Gov. Apparatus Dept. oI the Economy Republic of Armenia Government House, Room 77 Republic Square, Yerevan Armenia, 375010 Local Tel., (8852)-52 56-93 Intern. (Tel/Fax): 011 7-8852-151-350 Mailing Address: Steven J. Anlian, ICMA Advisor, "C" USAID/Yerevan Department of State Washington, DC 20521·· 7020