A quick reference guide from Lexology enabling side-by-side comparison of local insights, including into buying and selling; export and import controls; taxation; borrowing against art; intellectual property rights; agency; consigning items; auctions; spoliation during Nazi era; lending to museums; cultural patrimony; anti- money laundering; endangered species; consumer protection; art market regulators; and recent trends.
Contributors
Lawrence M Kaye
lkaye@kayespiegler.com
Kaye Spiegler PLLC
Howard N Spiegler
hspiegler@kayespiegler.com
Kaye Spiegler PLLC
Yael M Weitz
yweitz@kayespiegler.com
Kaye Spiegler PLLC
Gabrielle C Wilson
gwilson@kayespiegler.com
Kaye Spiegler PLLC
Table of contents
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BUYING AND SELLING
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Passing of title
Implied warranty of title
Registration
Good-faith acquisition of stolen art
Acquiring title to stolen art through prescription Risk of loss or damage
Due diligence
Other implied warranties
Voiding purchase of forgeries
Voiding inadvertent sales of works by masters
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EXPORT AND IMPORT CONTROLS
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Export controls Import controls Export and import tax
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DIRECT AND INDIRECT TAXATION
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Taxes
Tax exemptions
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BORROWING AGAINST ART
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Types of security interest
Consumer loans
Register of security interests
Non-possessory security interests
Sale of collateral on default
Ranking of creditors
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INTELLECTUAL PROPERTY RIGHTS
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Creator copyright
Copyright duration
Display without right holder's consent
Reproduction of copyright works in catalogues and adverts
Copyright in public artworks
Artist's resale right
Moral rights
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AGENCY
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Accounting to the principal
Disclosed agent commission
Undisclosed agent commission
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CONSIGNING ITEMS
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Protection of interests in consigned works
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SPOLIATION DURING THE NAZI ERA
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Claims to Nazi-looted art
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LENDING TO MUSEUMS
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Responsibility for insurance Immunity from seizure
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CULTURAL PATRIMONY
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National treasures
Right of pre-emption
Automatic vesting in the state
Illegally exported property claimed by foreign states
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NON-FUNGIBLE TOKENS
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Regulation and case law
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ANTI-MONEY LAUNDERING
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Compliance
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ENDANGERED SPECIES
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CITES
Specific endangered animal products
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CONSUMER PROTECTION
Cancelling purchases
Duties of businesses selling to consumers
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REGULATION
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Art market regulator
Other regulators
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UPDATE AND TRENDS
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Key developments of the past year.
To read the Guide, see the PDF here
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