FUTURE THINGS AS OBJECT OF REAL RIGHTS

Abstract

The paper aims to answer the question whether the concept of “future things” is compatible with property relations by debating on issues such as future things as object of real rights, future things as real securities, transfer of real right on future things and future things as object of enforcement proceedings.

            As it is shown throughout the analysis in the paper, the COVID crisis has brought many repercussions, not only to the public health systems in Europe, but also to the European economy that has suffered lose during the pandemic. In such dire conditions certain Macedonian financial institutions, such as banks, have offered financial support to the government and have lobbied for some benefits in return. Unfortunately, the benefits that banks have lobbied for threaten the stability and consistency of the civil law system. The situation raises concern among scholars and urges them to appeal for the preservation of the civil law institutes so that the short-term legal solutions implemented in haste for the benefit of some (the banks) won’t lead to long term irreparable damages on the overall civil law system.   

            The authors focus on the analysis of the provisions found in several Macedonian laws that implement the concept of future things in some areas of property law such as exercising real right on future things, future things as real securities, transfer of right on future things and forced sale in enforcement proceedings. Main objective of the analysis is to demonstrate that regulating “future things” as an object of real rights is not sustainable due to the nature of these rights.