File:Ownership Transactions - parties, rights and land.svg
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Summary
[edit]DescriptionOwnership Transactions - parties, rights and land.svg |
English: Transactional concepts provide details about state-change to a Land Register.
A rights holder, or other parties with appropriate powers, can undertake formal changes to a party-right-land relationsip. These are: 1. A _party variation_ allows an empowered party to transfer (sell) all or part of their _right in land_. * All such transfers are _in personam_ - the legal instrument which describes the variation specifically identifies the third party grantee who benefits from the rights transfer. 2. A _rights variation_ allows an empowered party to alienate rights (such as access) which can then be transferred to third parties. 3. A _land variation_ allows an empowered party to split their right (normally ownership) in to multiple spatial parts some of which can then be transferred to third parties. In this manner a transactional concepts represents a party-right-land _state change_. When formalised in to a legal instrument, such documents are normally called deeds. |
Date | |
Source | Own work |
Author | Arbeck |
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current | 09:58, 14 December 2021 | 2,703 × 1,425 (74 KB) | Arbeck (talk | contribs) | Uploaded own work with UploadWizard |
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Short title | Ownership Transactions - parties, rights and land |
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Width | 762.86884mm |
Height | 402.21841mm |