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Conveyancing Act 1919 [9] Victoria: Property Law Act 1958 [10] Sale of Land Act 1962 [11] Australian Capital Territory: Civil Law (Property) Act 2006 [12] Civil Law (Sale of Residential Property) Act 2003 [13] Queensland: Property Law Act 1974 [14] Land Titles Act 1994 [15] Northern Territory: Law of Property Act [16] Land Title Act [17] South ...
In Irish and Northern Irish law, a fee farm grant is a hybrid type of land ownership typical in cities and towns. The word fee is derived from fief or fiefdom, meaning a feudal landholding, and a fee farm grant is similar to a fee simple in the sense that it gives the grantee the right to hold a freehold estate, the only difference being the payment of an annual rent ("farm" being an archaic ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the ...
In Hong Kong, there is a statutory definition of "encumbrance".In Conveyancing and Property Ordinance (Cap. 219) it reads: ""encumbrance" (產權負擔) includes a legal and equitable mortgage, a trust for securing money, a lien, a charge of a portion, annuity, or other capital or annual sum; and "encumbrancer" (產權負擔人) has a meaning corresponding with that of "encumbrance" and ...
In Queensland, the threshold for individuals is $600,000 and $350,000 for other entities, and the audit date is 30 June. [80] In South Australia the threshold is $332,000 and taxed at a progressive rate, the audit date is 30 June. [81] By revenue, property taxes represent 4.5% of total taxation in Australia. [82]
This is undertaken as part of the conveyancing process by a solicitor or a licensed conveyancer. If you are borrowing money to finance the purchase it will normally be a condition of the advance that you obtain a local search. If you are not having finance it is your option whether to have a local search or not.
If the applicant was successful, the selector paid the first year's rent and survey fee. The selection was not capable of being mortgaged or transferred (except in the case of death of the licensee). Land orders (often received as an inducement to immigrate to Queensland) could be used in payment of the deposit for a selection. [5]