Certain charges affect the negotiability of a security: a lien or easement can render a security unsaleable. However, this does not automatically mean that the title cannot be bought and sold. Although he has signed a contract, this may result in the termination of the contract by the buyer and even claim damages in some jurisdictions. In Hong Kong, for example, the seller of a property is required by law to inform the estate agent of any charges on the property in order to avoid subsequent problems in the sale process. The real estate agent provides the buyer with a property search document that contains a list of all charges. From the buyer`s point of view, it is important to be aware of the charges of a property, as these are often transferred to him with the ownership of the property. In Hong Kong, there is a legal definition of “burden”. The Transfer of Ownership and Ownership Ordinance (cap. 219) provides: “The charge (產權負擔) includes a legal and equitable hypothec, a trust to secure money, a lien, a charge of a party, an annuity or other capital or an annual sum; and “charge” (產權負擔人) has a meaning equivalent to that of “charge” and includes any person entitled or seeking to pay and perform an office. LOAD. An encumbrance or charge on an estate or property such that it cannot be disposed of without being subject to it.
A mortgage, a lien on taxes, are examples of charges. 2. These shall not affect the beneficiary`s property and may be removed or extinguished of a certain monetary value. See 2 Greenl. No. 22; 5 Greenl. No. 94. 3. There are other types of stress that cannot be eliminated, such as: easements, a highway or a pre-existing right to take water from the countryside. Strictly speaking, however, these are not encumbrances but accessories of property located in other countries or, in the language of civil law, easements. (cf.) 5 Conn.
R. 497; 10 Conn. R. 422 15 John. R. 483; and see 8 choices. R. 349; 2 wheat. No. 45.
See 15 Verm. R. 683; l Metc. 480; 9 Metc. 462; 1 R.app. 313; 4 Ala. 21; 4 Humph. 99; 18 Selection. 403; 1 Ala. 645; 22 selection.
447; 11 Gill and John. 472. From the buyer`s point of view, it is essential to be aware of the burdens on the house, as they are often passed on to him at the same time as the property. Expense accounting sets aside single assets to pay for expected liabilities. Certain charges affect the negotiability of a security: an easement or lien can render a security unsaleable. While this does not necessarily mean that the title cannot be bought and sold, it may allow the buyer to withdraw from the transaction despite signing the contract and even seek damages in some jurisdictions. Other charges, such as zoning laws and environmental regulations, do not affect the marketability of a property, but prohibit certain uses and improvements to the property. An encumbrance is a legal right, interest or liability in property that does not preclude the transfer of ownership of the property, but may reduce its value.
[1] Expenses can be classified in several ways. They can be financial (e.g., privileges) or non-financial (e.g., easements, private restrictions). Alternatively, they may be divided into those affecting ownership (e.g. lien, legal or equitable charge) or those relating to the use or physical condition of the encumbered asset (e.g. restrictions, easements, encroachments). [2] Charges include securities, liens, easements (e.g., easements, roads, real contracts, profits to be taken), leases, restrictions, encroachments, and air and underground rights. Charges, e.g. fee orders, construction contracts and structural changes, are also considered potentially modifiable. Charges: Charges or claims on land resulting from a gift or private contract. An encumbrance is a claim against property by a party who is not the owner.
A charge may affect the transferability of the asset and restrict its free use until the charge is lifted. The most common types of charges apply to real estate; These include mortgages, easements and property tax privileges. Not all forms of training are financial, easements are an example of non-financial burdens. Fees may also apply to personal property, as opposed to real property. The charge, obstruction or inability of a property that diminishes its value or makes it less negotiable. An office (also spelled charge) is a right or interest that exists in a person other than the owner of an estate that limits or hinders the transfer of the estate or reduces its value. It can be an easement, a lien, a mortgage, a mechanic`s lien, or accumulated and unpaid taxes. The real estate burden has many different types due to its many applications. Each type is designed both to protect the parties and to specify exactly what each claim entails – and to which it is entitled. During the Construction Period, the Contractor shall indemnify the Site from any occupation, encroachment or load and shall not place or create any subcontractor or any other person making claims through or under the Agreement or permit any charge or threat to safety on all or part of the Project Site or Facilities. or the Contractor`s rights hereunder or under this Agreement, except as expressly provided in this Agreement.
