Real Estate Law in Canada
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Launch of "Strata Title Property Rights– Private Governance of Multi
Launch of “Strata Title Property Rights – Private governance of multi-owned properties” by Cathy Sherry University of New South Wales 2 August 2017 Mark Leeming1 Everyone is interested in architecture. Perhaps the best illustration of this is the runaway success of Kevin McCloud’s “Grand Designs” televison shows. Putting to one side the allure of McCloud himself, that success is in part a testament to the basic urge to build one’s own home, something which is never going to happen for the overwhelming majority of Australians. And even for those who merely end up owning their own home, increasingly that home will be a lot within a strata scheme or community title. There have been more than 1 million people living in Sydney in such schemes since 2011, and both the number and the proportion are only going to increase. Walking to this launch from the closest railway station this evening well illustrates the phenomenon. I passed a very rare single storey sandstone 19th century terrace a couple of minutes from Green Square, next to rows of late Victorian and early twentieth century two storey terraces. But then there were blocks of modern high density towers, before, after passing under Southern Cross Drive, one sees examples of the very worst of the 1960s and 70s three storey walk-ups, products of the legislation the subject of this book. One of the things which the photographs in this delightful book (yes, photographs in a law book!) convey is the changing architecture of flats and apartments, connected with legislative changes. There is, in the case of planning law and laws governing communal living, a very close link between the legislative regime and the lived-in character of the urban environment. -
Mason's Minnesota Statutes 1927
1940 Supplement To Mason's Minnesota Statutes 1927 (1927 to 1940) (Superseding Mason s 1931, 1934, 1936 and 1938 Supplements) Containing the text of the acts of the 1929, 1931, 1933, 1935, 1937 and 1939 General Sessions, and the 1933-34,1935-36, 1936 and 1937 Special Sessions of the Legislature, both new and amendatory, and notes showing repeals, together with annotations from the various courts, state and federal, and the opinions of the Attorney General, construing the constitution, statutes, charters and court rules of Minnesota together with digest of all common law decisions. Edited by William H. Mason Assisted by The Publisher's Editorial Staff MASON PUBLISHING CO. SAINT PAUL, MINNESOTA 1940 CH. 64—PLATS §8249 street on a street plat made by and adopted by the plat, or any officer, department, board or bureau of commission. The city council may, however, accept the municipality, may present to the district court a any street not shown on or not corresponding with a petition, duly verified, setting forth that such decision street on an approved subdivision plat or an approved is illegal, in whole or in part, specifying the grounds street plat, provided the ordinance accepting such of the Illegality. Such petition must be presented to street be first submitted to the planning commission the court within thirty days after the filing of the deci- for its approval and, if approved by the commission, sion in the office of the planning commission. be enacted or passed by not less than a majority of Upon the presentation of such petition, the court the entire membership of the council, or, if disapproved may allow a writ of certiorari directed to the planning by the commission, be enacted or passed by not less commission to review such decision of the planning than two-thirds of the entire membership of the city commission and shall prescribe therein the time within council. -
THE Definitive PRIME RESIDENTIAL Briefing THE
A GLOBAL PERSPECTIVE ON PRIME RESIDENTIAL PROPERTY AND WEALTH THE DEfINITIVE PRIME RESIDENTIAL BRIEfING new HIGH fOR CONTEMPORARY ART THE WORLD’S MOST INfLuENTIAL CITIES ASIA PACIfIC PRIME REAL ESTATE OuTLOOk fOCuS ON PROPERTY MARkET INVESTMENT WHERE THE WEALTHY ARE INVESTING KNIGHT FRANK TERMS AND DEFINITIONS HNWI is an acronym for 'high-net-worth individual’, a person whose investible assets, excluding their principal residence, total between $1m and $10m. An UHNWI (ultra-high-net-worth individual) is a person whose investible assets, excluding their primary residence, are valued at between $10m and $100m-plus. The term ‘prime property’ equates to the most desirable, and normally most expensive, property in a defined location. Commonly, but not exclusively, prime property markets are areas where demand has a significant international bias. Exchange rates: unless otherwise stated these were calculated using the rate on Feb 1 2010. The Wealth Report 2010 Attitudes Survey: the participants of the survey comprised clients of Citi Private Bank. Survey conducted between 1 December 2009 and 31 January 2010. CONTRIBUTORS Prime, prestige, luxury – all labels applied to the top end of the residential property Written and edited by Andrew Shirley and Liam Bailey, Knight Frank LLP. For research and press enquiries: Liam Bailey, Knight Frank LLP, market in different parts of the world. 55 Baker Street, London W1U 8AN +44 (0)20 7861 5133 ANDREW SHIRLEY Andrew, when not editing While the names may differ, the desire of High¯Net¯Worth Individuals to own The Wealth Report 2010, is head of and invest in the best property is ubiquitous around the globe. -
Adverse Possession and the Transmissibility of Possessory Rights – the Dark Side of Land Registration? Mark Pawlowski* *Barris
Adverse Possession and the Transmissibility of Possessory Rights – The Dark Side of Land Registration? Mark Pawlowski* *Barrister, Professor of Property Law, Scholl of Law, University of Greenwich James Brown** **Barrister, Senior Lecturer in Law, Aston University It is trite law that, if unregistered land is adversely possessed for a period of 12 years, the title of the paper owner is automatically barred under s.15 of the Limitation Act 1980. Where the land is registered, however, there is no automatic barring of title by adverse possession1 – instead, after being in adverse possession for a minimum of 10 years,2 the adverse possessor can apply to be registered as the proprietor in place of the registered proprietor of the land.3 Upon receipt of such an application, the Land Registry is obliged to notify various persons interested in the land, including the registered proprietor.4 Those persons then have 65 business days5 within which to object to the registration6 and, in the absence of any objection, the adverse possessor is entitled to be registered as the new proprietor of the land. 7 In these circumstances, the registered proprietor is assumed to have abandoned the land. If, on the other hand, there is an objection, the possessor will not be registered as the proprietor unless he falls within one of the three exceptional grounds listed in paragraph 5, Schedule 6 to the Land Registration Act 2002, where: (1) it would be unconscionable for the registered proprietor to object to the application; (2) the adverse possessor is otherwise entitled to the land; or (3) if the possessor is the owner of adjacent property and has been in adverse possession of the subject land under the mistaken, but reasonable belief, that he is its owner. -
The Condominium Act
REPUBLIC ACT NO. 4726 AN ACT TO DEFINE CONDOMINIM, ESTABLISH REQURIEMENTS FOR ITS CREATION, AND GOVERN ITS INCIDNETS SECTION 1. The short title of this Act shall be The Condominium Act. SECTION 2. A condominium is an interest in real property consisting of a separate interest in a unit in a residential, industrial or commercial building and an undivided interest in common directly or indirectly, in the land which it is located and in other common areas of the building. A condominium may include, in addition, a separate interest in other portions of such real property. Title to the common areas, including the land, or the appurtenant interests in such areas, may be held by a corporation specially formed for the purpose (hereinafter known as the condominium corporation) in which the holders of separate interests shall automatically be members or share−holders, to the exclusion of others, in proportion to the appurtenant interest of their respective units in the common areas. The interests in condominium may be ownership or any other interest in real property recognized by the law of property in the Civil Code and other pertinent laws. SECTION 3. As used in this Act, unless the context otherwise requires: a. Condominium means a condominium as defined in the next preceding section. b. Unit means a part of the condominium project intended for any type of independent use or ownership, including one or more rooms or spaces located in one or more floors (or part or parts of floors) in a building or buildings and such accessories as may be appended thereto. -
LAND REGISTRATION for the TWENTY-FIRST CENTURY a Conveyancing Revolution
LAND REGISTRATION FOR THE TWENTY-FIRST CENTURY A Conveyancing Revolution LAND REGISTRATION BILL AND COMMENTARY Laid before Parliament by the Lord High Chancellor pursuant to section 3(2) of the Law Commissions Act 1965 Ordered by The House of Commons to be printed 9 July 2001 LAW COMMISSION H M LAND REGISTRY LAW COM NO 271 LONDON: The Stationery Office HC 114 The Law Commission was set up by section 1 of the Law Commissions Act 1965 for the purpose of promoting the reform of the law. THE COMMISSIONERS ARE: The Honourable Mr Justice Carnwath CVO, Chairman Professor Hugh Beale Mr Stuart Bridge· Professor Martin Partington Judge Alan Wilkie QC The Secretary of the Law Commission is Mr Michael Sayers Her Majesty’s Land Registry, a separate department of government and now an Executive Agency, maintains the land registers for England and Wales and is responsible for delivering all land registration services under the Land Registration Act 1925. The Chief Land Registrar and Chief Executive is Mr Peter Collis The Solicitor to H M Land Registry is Mr Christopher West The terms of this report were agreed on 31 May 2001. The text of this report is available on the Internet at: http://www.lawcom.gov.uk · Mr Stuart Bridge was appointed Law Commissioner with effect from 2 July 2001. The terms of this report were agreed on 31 May 2001, while Mr Charles Harpum was a Law Commissioner. ii LAW COMMISSION HM LAND REGISTRY LAND REGISTRATION FOR THE TWENTY- FIRST CENTURY A Conveyancing Revolution CONTENTS Paragraph Page PART I: THE LAND REGISTRATION BILL AND -
Non-Residential Condominium Valuations
Professional Excellence Bulletin [PP-16-E] September 1995 Revised January 2007 Non-Residential Condominium Valuations In a number of marketplaces across the country, condominium – or strata title (the terms are synonymous) subdivided developments are becoming commonplace. These projects are marketed on the basis that businesses can own the space within which they operate, as well as to individual investors on the basis that this ownership interest can be acquired in commercial or industrial properties at price levels below those possible in conventionally subdivided free- standing investment properties. One also sees bareland strata subdivisions develop from time to time, wherein individual lot owners acquire an interest in common property, like an improvement, lying outside their lot boundaries. Bareland strata provides a fee simple ownership mechanism, yet offers substantial advantages over the alternative non-fee simple mechanisms to retain control of these offsite improvements, such as cooperative or corporate share arrangements. Much as on-going exposure to residential condominium properties has led to a significant body of knowledge within the appraisal community for the valuation of these assets, the passage of time has brought about a greater awareness of the pitfalls inherent in non-residential strata properties, some of which entail potential litigation risk for appraisers. Strata title commercial/industrial properties offer the advantages of ownership in smaller properties than could be achieved for stand-alone buildings; maybe the only way to secure tenure in a specific location, and offer reduced management burden for such things as building and grounds maintenance. However, individual unit owners have less control over both day-to-day operations, and eventual re-development. -
Portugal Investor Guide 2019
Portugal Investor Guide 2019 THE LEGAL PERSPECTIVE PORTUGAL INVESTOR GUIDE 2019 2 WWW.DLAPIPER.COM Contents INTRODUCTION 04 6.6 Assignments/transfers 12 1. OWNERSHIP OF REAL ESTATE 05 6.7 Subleases 12 6.8 Termination 12 1.1 Full ownership 05 6.9 Sale of leased property 12 1.2 Surface right, usufruct and right of use 05 7. TAX 13 1.3 Condominium 05 1.4 Restrictions on ownership by foreigners 05 7.1 Transfer Taxe, Stamp Duty 13 2. ACQUISITION OF OWNERSHIP 06 7.2 Value added Tax 13 7.3 Other Real Estate Taxes 13 2.1 Formal requirements 06 7.4 Taxation of rental income from 2.2 Registration 06 Real Estate 14 2.3 Asset deals 06 7.5 Taxation of dividends from a company 2.4 Share deals 07 owning Real Estate 15 2.5 Public auctions 07 7.6 Taxation of capital gains on Real Estate 16 3. OTHER RIGHTS TO PROPERTY 08 7.7 Taxation of capital gains from the disposal of shares Corporate Resident Entities 16 3.1 Mortgages and charges 08 7.8 Taxation of Capital Gains From the Disposal 3.2 Easements 08 of Shares by Non-Residents 16 3.3 Pre-emption rights 08 7.9 Real Estate Funds 17 3.4 Options 08 7.10 Portuguese Reits 18 3.5 Overage 08 8. REAL ESTATE FINANCE 20 4. ZONING AND PLANNING LAW PERMITS 09 8.1 Interest rate risks 20 5. ENVIRONMENTAL LIABILITY 10 8.2 Assets held as security 20 6. LEASES 11 8.3 Further collateral agreements 20 6.1 Duration 11 8.4 Taxation on the creation of security 20 6.2 Rent 11 CONTACT 21 6.3 Rent review 11 ABOUT DLA PIPER 22 6.4 Operating expenses 11 6.5 Maintenance, repair and reinstatement at end of lease 11 3 PORTUGAL INVESTOR GUIDE 2019 Introduction In recent years, Portugal has in turn enhanced the ability to inance The stability of the real estate market become an attractive market for real estate transactions. -
SJC: Land Registration Not a Factor in Right-Of-Way Dispute Key Ruling Continues Court’S ‘Balanced’ Approach to Easement Law
Established 1872 Reprinted from the issue of March 10th, 2014 www.BankerandTradesman.com T HE R EAL E S T A T E , B ANKING AND C OMME rc IAL W EEKLY FO R M ASSA C HUSE tt S A PUBLICATION OF THE WARREN GROUP PROPERTY LAW SJC: Land Registration Not A Factor In Right-Of-Way Dispute Key Ruling Continues Court’s ‘Balanced’ Approach To Easement Law BY ASHLEY H. BROOKS SPECIAL TO BANKER & TRADESMAN land. dimensions of all easements easement, (b) increase the n a recent major real es- Clifford Martin owns a va- appurtenant to it … are immu- burdens on the owner of the tate law ruling, the Massa- cant lot of registered land table, and Martin has a right of easement in its use and enjoy- Ichusetts Supreme Judicial in an industrial/commercial access over the full width of ment, or (c) frustrate the pur- Court (SJC) extended owners subdivision on the Medford– [the easement].” pose for which the easement of registered land the same Somerville line. The lot has no The SJC disagreed, how- was created.” flexibility frontage on a public way, but ever, and reiterated the Land And even though the dis- that own- is accessible via a right of way Court judge’s finding that pute in Martin v. Simmons ers of un- easement on property owned there is “no principled distinc- Properties involved registered registered by Simmons Properties, which tion between easements on land, the court said: “We dis- land have easement is noted on the cer- registered land and easements cern nothing in the land reg- to defend tificate of registration issued on unrecorded land … ” istration act … to support a easement by the Land Court for Martin’s different understanding of the claims. -
Lending with Boq
LENDING WITH BOQ Version Number: 20 Effective Date: 20 July 2020 Important: This is NOT a full version of the Bank of Queensland’s home loan policy. It is a guide only. Acceptance of any loan application is always at Bank of Queensland’s lending discretion, and this document is not to be relied upon or represented as the bank’s current policy. Bank of Queensland Limited ABN 32 009 656 740 (BOQ). Important: This is NOT a full version of the Bank of Queensland’s home loan policy. It is a guide only. Acceptance of any loan application is always at Bank of Queensland’s lending discretion, and this document is not to be relied upon or represented as the bank’s current policy. Bank of Queensland Limited ABN 32 009 656 740 (BOQ). TABLE OF CONTENTS Introduction 1 Forms of acceptable income 2 Validating income 4 Validating Savings, account conduct & expenses 9 Security 13 Established Multiple Units 4 TO 6 17 Guarantees 18 Property valuations 19 Important: This is NOT a full version of the Bank of Queensland’s home loan policy. It is a guide only. Acceptance of any loan application is always at Bank of Queensland’s lending discretion, and this document is not to be relied upon or represented as the bank’s current policy. Bank of Queensland Limited ABN 32 009 656 740 (BOQ). INTRODUCTION Loan Interviews • Conduct face-to-face loan interviews with all new Borrowers and Guarantor/s. • Obtain identification and verify inline with group Customer Identification Guidelines. Note: Face to Face loan interviews can be conducted via video conferencing facilities. -
Development of Land-Title Registration Systems
Development of Land−Title Registration Systems − A Developed Country Experience Australia Table of Contents Development of Land−Title Registration Systems − A Developed Country Experience Australia............1 FOREWORD..........................................................................................................................................1 EXECUTIVE SUMMARY........................................................................................................................2 INTRODUCTION....................................................................................................................................3 I. NEW SOUTH WALES BEGINNINGS..................................................................................................4 A. Allocation of land.........................................................................................................................5 B. Registration of deeds...................................................................................................................5 Sources............................................................................................................................................6 II. THE SYSTEM OF SURVEYS.............................................................................................................6 A. The functions of the system.........................................................................................................6 B. Creation of parcels by the Crown................................................................................................6 -
Land Titles Registration Act 2008
Land Titles Registration Act 2008 SAMOA LAND TITLES REGISTRATION ACT 2008 Arrangement of Provisions PART 1 PRELIMINARY 1. Short title and commencement 2. Interpretation PART 2 ADMINISTRATION 3. Registrar and Assistant Registrar 4. Functions of the Registrar 5. Powers of the Registrar 6. Power to serve notice of proposed action 7. Indemnity of officers PART 3 REGISTER 8. Register 9. Inclusion of land 10. Folios of the Register 11. Change of name of proprietor 12. Manual folio to be considered evidence of title 13. Computer folio to be considered evidence of title PART 4 QUALIFIED FOLIOS OF THE REGISTER 14. Land deemed to be qualified title land 15. Cautions 16. Recording of existing interests 17. Caveat against lapsing of cautions 18. Lapsing of cautions 19. Application of provisions of this Act to qualified folio and land therein PART 5 INSTRUMENTS GENERALLY 20. Execution of instruments 21. Execution of instruments by agent 22. Seal of corporation substituted for signature 23. Unregistrable instruments 24. Multiple ownership 25. Certificate of correctness PART 6 REGISTRATION 26. Lodgment and registration of documents 27. Transactions effecting the subdivision of land 28. Registrar may require plan 29. Recording of instruments 30. Treatment of instruments that do not comply with requirements PART 7 EFFECT OF REGISTRATION 31. Instruments not effectual until recorded in the Register 32. Estate of registered proprietor paramount 33. Purchaser from registered proprietor not to be affected with notice 34. Registered proprietor suing for specific performance 35. Bona fide purchasers and mortgagees protected PART 8 INSTRUMENTS Division 1 – Transfers 36. Transfers 37. Interest and rights of transferor to pass to transferee 38.