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The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds.
Revenue stamps served to pay tax duties on items that came under two main categories, Proprietary and Documentary. Proprietary stamps paid tax duties on goods like alcohol and tobacco, and were also used for various services, while Documentary stamps paid duties on legal documents, mortgage deeds, stocks and a fair number of other legal dealings.
The stamped paper has been widely used around the world to collect taxes on documents requiring stampings, such as leases, agreements, receipts, court documents and many others. The papers are bought blank apart from the pre-printed stamp and are available from stationers, lawyers' offices, post offices and courts according to local regulations.
In England and Wales, the common law courts originally recognised only wax seals, but this requirement was gradually relaxed.By the 20th century a small circle of red adhesive paper affixed to the document in question was sufficient when an individual had to use a seal [6] (most commonly on a contract for the sale of land), although the courts also held that a circle containing the letters "L ...
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
Document or transaction stamps or taxes, paid by either or both parties depending on location (area of jurisdiction), charged by a governmental entity as an excise tax upon the transaction. Required by law.
However, stamp duties are levied by the Australian states on various instruments (written documents) and transactions. Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also differ between the jurisdictions (typically up to 5.5%) as do the nature of instruments and transactions subject to duty.
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.