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His Majesty's Land Registry is a non-ministerial department of His Majesty's Government, created in 1862 to register the ownership of land and property in England and Wales. [3] It reports to the Ministry of Housing, Communities, and Local Government. [4] The registry contains 87% of land in England and Wales as of 2019. [5]
One of the drawbacks of owning a flat on a long lease is that it reduces in value over time. The less time is left on the lease, the less valuable the property becomes. Because of this, the law (the Leasehold Reform Housing and Urban Development Act 1993) gives the leaseholder the right to extend their lease once they have owned it for two years.
Following the Sportelli case [4] the Lands Tribunal adopted the so-called Sportelli formula to determine the rate, as follows.. q = r* + P – g* Where q is the deferment rate, [5] r* the real risk free rate, P the risk premium for the residential property market, and g* the real long-term growth in house prices.
Other parts of the Rentcharges Act 1977 [2] will abolish rentcharges of a feudal nature and provide a financial means to extinguish (way to redeem) any, regarding any freehold, by the freeholder, with or without the free assistance of the Rentcharges Unit of the Ministry of Housing, Communities and Local Government, Birkenhead, in the meantime. [3
No. 10 Highest: New Hampshire. Living in New Hampshire, the cradle of New England, can seem idyllic until you look at property taxes. The average property tax rate is 1.25%.
The Ministry of Housing, Communities and Local Government [2] (MHCLG) is a ministerial department of the Government of the United Kingdom. It is responsible for housing, communities, and local government in England. It was established in May 2006 and is the successor to the Office of the Deputy Prime Minister, established in 2001.
The ministry was under the charge of Venkaiah Naidu and was given to Hardeep Singh Puri when Naidu was elected Vice President of India. [2] The Ministry became independent from the Ministry of Housing and Urban Poverty Alleviation in 2004, [ 3 ] but was later re-merged with it in 2017.
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