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Article 116. The Turnover Capacity of the Items of Civil Rights

1. Items of the civil rights may be freely alienated or transferred from one person to another in the course of the universal legal successorship (inheritance, reorganisation of a legal entity) or by any other method, unless they are exempt from circulation or restricted in their turnover.

2. The types of things the alienation whereof is not prohibited, (the things exempt from the circulation) must be directly indicated in legislative acts.

3. The types of objects which may not belong only to specific participants in circulation, or those, the acquisition and alienation whereof is allowed only upon special-purpose permission, (things whose circulation is restricted), shall be determined by legislation.

4. The personal non-property privileges and rights shall be unalienable and non-transferable by any other method, except for the cases which are established by legislative acts.

Article 117. Movable and Immovable Assets

as amended by (12) Law of No. 211 of 2nd March 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to the Civil Code of the Republic of Kazakhstan (General Part), and to the Decree of the Supreme Soviet of the Republic of Kazakhstan "Concerning the Implementation of the Civil Code of the Republic of Kazakhstan (General Part)".

1. The real estate (immovable assets, immovables) shall comprise the following: land plots, buildings, structures, perennial plantations, and other property, which is firmly associated with land, i. e. items the transportation of which is impossible without infliction of unreasonable damage to their designation.

2. Also, air and sea vessels, vessels of domestic water travel, vessels of river and sea sailing, and cosmic facilities, shall be equated to immovable objects which are subject to state registration. Any other assets may be recognised as immovable objects by legislative acts.

3. Assets which are not recognised as immovables, including money and securities, shall be recognised as movable assets. The registration of rights in relation to movable assets shall not be required, except for the cases stipulated in legislative acts.

Article 118. The State Registration of Immovables

as amended (12) Law of No. 211 of 2nd March 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to the Civil Code of the Republic of Kazakhstan (General Part), and to the Decree of the Supreme Soviet of the Republic of Kazakhstan "Concerning the Implementation of the Civil Code of the Republic of Kazakhstan (General Part)".

1. The right to own and any other rights to immovable items, and restriction of those rights, their emergence, transfer and cessation, shall be subject to state registration.

2. The right of ownership, the right of business authority, the right of operative management, and the right to land use, for a period of more than a year, as well as the right of use for a period of more than a year, pledge of real estate, and rent for lease of immovable property, the right to management under concession, shall emerge from the moment of state registration.

3. Transactions involving immovables shall be subject to State registration in compliance with the rules of Chapter 4 of this Code.

4. The body which carries out the State registration of the rights to immovables and transactions therewith, shall be obliged upon the petition of the title holder to certify the effected registration, by way of issuing a document concerning the registration of the right or transaction or by executing an entry in the document presented for registration.

5. State registration of the rights to immovables and of transactions therein shall be public. The body which carries out the registration, shall be obliged to present the information concerning the effected registration and the rights which are registered, to any person. 6. The refusal of State registration of the right to immovables, or of transactions therein, or unmotivated evasion from registration, may be challenged in court.

7. The procedure of state registration, and the reasons for refusal to register, shall be established in accordance with this Code, and by the law of the Republic of Kazakhstan Concerning the Registration of Rights to Immovable Property and of Transactions Therein.

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