In Indian Real Estate …………………………... 6.1 6.2 6.3 Acquisition /Transfer of Immovable Property by POI Repatriation of Sale Proceed by NRI/POI Investment by Foreign Companies 12-15 7. 8. Real Estate Investment Trust (REIT) & Major Foreign Investors In Real Estate Sector ……………………………………………….. Model Real Estate Law …………………………………………….. 8.1 8.2 8.3 8.4 8.5 8.6 8.7 Establishment of Real Estate Regulatory Authority Registration of Property Promoters Powers of Regulatory Authority12 Establishment of
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SALES OF GOODS ACT-1930 INTRODUCTION The law relating to sales of goods act is come into existences in 1930. Before the present act the law of sales of goods act contained in Indian contracts act. All the essential elements of the valid contract are applicable to sale of goods also viz offer and acceptance, free consent, capacity of the patties, consideration etc. but there are some special feature are there in sales of goods. Like ➢ conditions and warranties. ➢ when the ownership
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student and project assistant in the research groups, ‘Study Group on a European Civil Code’ and ‘Argumentation Analysis in the Field of the Transfer of Movables’ Foreword The purpose of this small compendium is to provide a basic understanding of some special features of Scandinavian1 private Law, in particular in the field of the transfer of movable property. It serves as a preparation to the lesson and should, therefore, preferably, be read beforehand. Since some of the Scandinavian features are
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Foreign Exchange Management Act The Foreign Exchange Regulation Act of 1973 (FERA) in India was repealed on 1 June, 2000. It wasreplaced by the Foreign Exchange Management Act (FEMA), which was passed in the winter sessionof Parliament in 1999. Enacted in 1973, in the backdrop of acute shortage of Foreign Exchange in thecountry, FERA had a controversial 27 year stint during which many bosses of the Indian Corporate worldfound themselves at the mercy of the Enforcement Directorate (E.D.). Any offense
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Ownership does not, as in English law, pass on account of a mere agreement between the parties. Delivery of the goods is required. South African law adheres to the “abstract system” of passing ownership whereby the mere intention of the parties to transfer and accept ownership is sufficient, independent of the existence or non-existence of a valid underlying causa. Ownership will pass even if an underlying causa (like a contract of sale) is lacking, putative or invalid. Among the essential requirements
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promise Obligor: person who makes a promise Administrator: a person who carry out a person property who left no will. Mortgage: Transfer or pledge or real estate as security for the payment of a debt. Motrgagee: Lender in a mortgage loan transaction Mortgagor: Borrower who transfer their property as security for a loan; the holder of a mortgage. Will: Document directing the disposal of ones property after death. Witness: To write ones name to a deed, last will or other documents for the purpose
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holds the property in trust for Alice for life and then the remainder goes to Alice’s children. On the death of Serena, there is a valid will where Alice gets all of the property and there is no interest for Alice’s children. Therefore, the following advice is going to identify a trust is in place, which will ensure that the property transfers to the children. The Creation of a trust The case of Milroy v Lord identifies a perfect trust, which includes; 1) a deed of the trust; and 2) transfer of the
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6 Income From Property INCLUSIONS Specific Inclusions of Property Income * Section 12 requires the inclusion of the following returns on investments in the calculation of income form a property * Interest income from savings, deposits, loans, bonds, and debentures * Dividends from shares * Income based on the production or use of property * The primary method for computing interest on a “debt obligation” is the annual accrual method * The act requires this
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Chapter 1 – History and Concepts of Property Ownership The method of “holding” land rather than “owning” it was called a system of tenure. Alienability: refers to the power to transfer tenure to another during one’s lifetime or at the time of death. Common Law: is the part of the law that is formulated, developed and administered by the common law courts, mostly underwritten and founded originally by common customs. Types of Estates: Estates – describes an interest in land or more specifically
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Nichols v. Coolidge Mrs. Julia Coolidge, of Massachusetts, died January 6, 1921. As required by the Revenue Act approved February 24, 1919, c. 18, 40 Stat. 1057, 1096, the executors returned a schedule to the collector. He estimate the gross estate at $180,184.73 and allowed $77,747.74 deductions. They paid the amount assessed upon the balance. Their return did not include certain property transferred by the decedent through duly executed deeds and without valuable consideration, some to trustees
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