what is the difference between sectional title and freehold?
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“Sectional title simply describes the separate ownership of a unit within a complex or development,” says Dyer. This is in contrast to a freehold, or 'full title', where you purchase full ownership rights to a property, including the building and the land upon which it's built.
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The term Royalty refers to the payment made for exclusive use for both tangible and intangible assets whereas Rent refers to the payment made towards use of tangible assets only. The payment of Royalty is made on the basis of output or sale, whereas Rent is paid for a specific period.
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The crucial difference between adverse possession and prescriptive easement is that in the case of prescriptive easement, the use of the property is not exclusive to one party. Furthermore, prescriptive easement does not grant title to the land in question, but merely grants certain rights to that land.
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One big difference is the length of the lease. With an estate for years, there's a specific ending date and the lease can be for an extended period of time. In contrast, a periodic tenancy arrangement doesn't have a specific ending date.
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Freehold properties are generally more desirable as compared to their leasehold counterparts, as they have less stringent limitations on them and can command a higher price. However, buyers will notice that leasehold properties usually boast more facilities or features and may be priced lower than freehold ones.
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Unit title ownership is most common in a building development where there are multiple owners. In a cross lease, you own a share of the freehold title in common with the other cross leaseholders and a leasehold interest in the particular area and building that you occupy.
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Requisitions as to title – these are matters relating to the title of the property for sale, such as whether there is an easement affecting the property. Requisitions as to conveyance – these are matters relating to how the property will pass to the purchaser, such as the documents to be handed over at settlement.
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The main difference between the two is that a REIT is involved in real etate whereas a Business Trust is not restricted to real estate and can operate in any field. Some other differences include management structure, gearing limit and dividend distribution. ... This ensures a regular stream of income for REITs investors.
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The different types of real estate title are joint tenancy, tenancy in common, tenants by entirety, sole ownership, and community property. Other, less common types of property ownership are corporate ownership, partnership ownership, and trust ownership.
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The freehold classes are absolute, qualified or possessory and the leasehold classes are absolute, good leasehold and qualified. The best class of title to have is absolute. This means that the proprietor's right to the land is absolute and cannot be challenged. Possessory title is at the other end of the scale.
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Get started Ask a Lawyer a Question You'll hear back in one business day. Title is the legal way of saying you own a right to something. For real estate purposes, title refers to ownership of the property, meaning that you have the rights to use that property.
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Leasehold means that you own the flat or house, but not the land that it sits on, for a given number of years (eg 99, 125 or 999 years) under an agreement or contract called a lease which gives you the right to occupy and use the flat and share the use of other areas of the building or estate.
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A grant deed is the instrument used to transfer title to an interest in real property from one owner to someone else. ... A deed of trust is the security instrument given to a lender to secure a loan or other obligation. Bare naked title is deeded to the trustee, who holds the power of sale or the power to re-convey.
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It may be a partial interest in the property or it may be the full. However, because you have title, you can access the land and potentially modify it as you see fit. ... Deeds, on the other hand, are actually the legal documents that transfer title from one person to another.
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What is “title” in a Warranty Deed? The title of a property is what gives the owner legal rights over it. ... While a Warranty Deed guarantees that there are no other existing claims on the property, a Quitclaim Deed does not. Both deeds transfer interest in a property from a grantor (property owner) to a grantee or buyer.
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If the annual rent for the lease (not the NPV ) is less than £1,000, as a buyer you pay SDLT on the premium. This is at the same rate you would pay on the sale price of a freehold non-residential property. This means you'll only have to pay SDLT if the premium is more than the threshold.
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Answer: When there is a separation of ownership and control, managers have control rights with insignificant cash flow rights, whereas shareholders have cash flow rights but no control rights.