Global Practice Guide Real Estate II: Issues in Ownership of Real Property A Global Practice Guide prepared by the Lex Mundi Real Estate Group This guide is part of the Lex Mundi Global Practice Guide Series which features substantive overviews of laws, practice areas, and legal and business issues in jurisdictions around the globe. View the complete series at: www.lexmundi.com/GlobalPracticeGuides. Lex Mundi is the world’s leading network of independent law firms with in-depth experience in 100+ countries. Through close collaboration, our member firms are able to offer their clients preferred access to more than 21,000 lawyers worldwide – a global resource of unmatched breadth and depth. Lex Mundi – the law firms that know your markets. www.lexmundi.com About this Guide This multi-part Guide of Issues in Real Estate Investment and Finance presents jurisdictional overviews of real estate investment and financing laws in jurisdictions around the world, covering the following four general topics: Part I -- Foreign Investment Part II -- Ownership of Real Property Part III – Finance Part IV – Leasing Table of Contents Argentina ...................................................................................................................................... 4 Australia ....................................................................................................................................... 6 Austria ........................................................................................................................................... 8 Bahamas ..................................................................................................................................... 11 Barbados .................................................................................................................................... 14 Belize ........................................................................................................................................... 17 Bolivia ......................................................................................................................................... 19 Brazil ............................................................................................................................................ 21 Canada, Alberta ........................................................................................................................ 23 Canada, British Colombia ...................................................................................................... 25 Canada, Manitoba .................................................................................................................... 27 Canada, Nova Scotia ............................................................................................................... 30 Canada, Ontario ........................................................................................................................ 33 Canada, Quebec ....................................................................................................................... 36 Cayman Islands ........................................................................................................................ 38 Jersey Channel Islands .......................................................................................................... 41 Chile ............................................................................................................................................. 43 Colombia .................................................................................................................................... 47 Cyprus ......................................................................................................................................... 51 Denmark ..................................................................................................................................... 54 Dominican Republic ................................................................................................................ 57 Estonia ........................................................................................................................................ 59 www.lexmundi.com Page 1 © 2012 Lex Mundi Finland ........................................................................................................................................ 65 Greece ......................................................................................................................................... 68 Iceland ......................................................................................................................................... 71 Ireland ......................................................................................................................................... 73 Jamaica ....................................................................................................................................... 75 Kuwait ......................................................................................................................................... 78 Latvia ........................................................................................................................................... 80 Lebanon ...................................................................................................................................... 83 Lithuania ..................................................................................................................................... 86 Malaysia ...................................................................................................................................... 89 New Zealand .............................................................................................................................. 92 Norway ........................................................................................................................................ 94 Pakistan ...................................................................................................................................... 97 Peru .............................................................................................................................................. 99 Philippines ............................................................................................................................... 102 Poland ....................................................................................................................................... 104 Portugal .................................................................................................................................... 107 Russia ....................................................................................................................................... 110 Romania .................................................................................................................................... 112 Scotland .................................................................................................................................... 115 Slovak Republic ...................................................................................................................... 118 South Africa ............................................................................................................................. 123 Spain .......................................................................................................................................... 126 Sri Lanka................................................................................................................................... 134 Thailand .................................................................................................................................... 138 Turkey ....................................................................................................................................... 141 Turks & Caicos Islands ........................................................................................................ 143 United Arab Emirates ............................................................................................................ 145 Uruguay .................................................................................................................................... 148 USA, Alabama ......................................................................................................................... 151 USA, Arizona ........................................................................................................................... 155 USA, Arkansas ........................................................................................................................ 158 USA, Colorado ........................................................................................................................ 160 USA, Connecticut ................................................................................................................... 162 www.lexmundi.com Page 2 © 2012 Lex Mundi USA, Delaware ........................................................................................................................ 165 USA, Florida............................................................................................................................. 167 USA, Hawaii ............................................................................................................................