According to Spanish law, it is called public property assetsand goods in the public domain, which also serve the general and public use of society, calling the set of public law assets called demanio.
Public assets are, therefore, assets included within the patrimony of public administrations, either because they are subject to public use or because they are publicly owned.
Although it may be understood this way, not all the goods or assets in which the company participates public administration They are of a public nature, since there are situations and cases in which the public administration participates in an asset or asset without it having the status of a public asset.
In this case, we are dealing with private assets whose ownership is public, since in these situations the administration acts as if it were a private entity.
Characteristics of public property
These are the main characteristics of public property:
One of the main characteristics that makes goods, in public property, is what is known as affectation. When we speak of affectation in reference to a good, it is stated that this good serves a public service, or the general use of society as a whole.
The public assets belong to the administration. Although an assignment can be made with them, the change of ownership over the ownership of this type of property is not allowed.
This type of property cannot be subject to embargoTherefore, they cannot act as collateral in loan or financing operations.
Based on the law and according to its affectation, public property must be used for the public service and use of the whole of society.
Control and inventory
Public property must be registered and quantified in an inventory by the public administration. Who must also exercise control over them.