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2 Loss of Proprietary Interest in an Asset

From: The Law of Tracing in Commercial Transactions

Magda Raczynska

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 19 August 2022

Property and title and choice of law — Interests and terminology and transfer of title

This chapter examines the circumstances in which title-based interests and security interests are lost in assets in which they were originally held. It first explains how tangible assets subject to proprietary interests may be lost through physical or deemed destruction, as a result of goods becoming a fixture on land, or an accession or a product resulting from a manufacture. It then considers whether the law allows any proprietary protection to a party who loses his/her proprietary interest, with a particular focus on the principle of nemo dat quod non habet (no one can pass a greater interest in property than they have) and the notion of a disposition, including disposition in circumstances triggering possession-based defences. The chapter concludes with a discussion of loss of a proprietary interest through disposition by a third party.

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