Reservation of title (Liechtenstein)
The property law of the Swiss Civil Code (Articles 641 to 977 Civil Code) was largely incorporated into Liechtenstein Property Law (SR) in 1923 . With the last partial amendment of the SR on October 1, 2008, the retention of title in rem, originally taken over from the Swiss Civil Code, was canceled in Liechtenstein because it was irrelevant (Art 173-186 SR). The mandatory retention of title was and is better adapted to modern legal transactions and corresponds to the needs of the economy in Liechtenstein for flexible, quickly deployable, simple instruments and also corresponds to the postulate of contractual autonomy of the market economy model.
Since then, the agreed mandatory retention of title according to the Liechtenstein General Civil Code (Section 1063 FL-General Civil Code ), which is identical to Austrian law, has been in effect.
The retention of title for a long time (extended retention of title) aims to extend the suspensive effect of the transfer of title to other buyers or processors of the item, even if they are not in a direct contractual relationship with the original owner and seller. The extended retention of title is opposed to Art. 172 para. 2 SR, after the person who receives a movable property in good faith becomes its owner as soon as he is protected in possession of the property according to the property rules. Even if the seller was not authorized to transfer ownership. This clear provision makes it impossible to agree on an extended retention of title with regard to movable objects that are acquired in good faith.
The right of retention of title is an enforceable property right, since the seller does not lose his right in rem to the thing until full payment has been made and in the event of bankruptcy establishes a right of segregation in favor of the owner of the thing (see Art. 41 f KO). If the separation was made impossible by the sale after bankruptcy, the owner is entitled to an equivalent, monetary consideration (cf. Art. 41 Para. 3 KO).
The Liechtenstein courts observe the Austrian case law on the mandatory retention of title if necessary.
