Immovable Property in the Private Ownership of the State

Immovable property in the private ownership of the State is immovable property that the State owns not by virtue of its sovereign power based on public authority, but as an owner subject to the provisions of private law. Over such property the State may dispose just as real and legal persons may, carrying out transactions such as sale, lease, exchange or the creation of rights in rem. In that respect such property is distinguished from public property allocated to a public service and may, where necessary, be transferred to third parties by tender.