CG12984 - Capital sums from assets: rights over an asset

CG12980 shows you that you may have a number of concurrent rights over one particular asset. In the case of the painting, there was a right of ownership. There could also have been a right to an insurance recovery (in the Welbeck example) or a right to damages (in the Kaufman example).

These instructions look at some of the rights which you can have over an asset which may entitle you to compensation, damages or some other form of capital sum. For convenience, these are covered by the blanket term 'compensation'.

The types of right looked at are

• statutory rights, see CG12985+ and CG12017+
• contractual rights, see CG12987+ and CG12022+
• rights of action, see CG12989+ and CG12040+.

These instructions tell you how to deal with capital sums derived from the various rights. The instructions at CG12017 etc tell you how to identify the various rights.