Disposal Of Real Estate Research Articles

Source of income from the transfer of real estate for consideration under a life estate contract

This study is devoted to the issue of the source of income from the sale of real estate for consideration under an annuity agreement. The article pays special attention to the issues related to the interpretation of the provision of Art. 10 sec. 1 point 8 lit. and the Personal Income Tax Act. In particular, the impact of the provisions of the above-mentioned of the Act on the interpretation and application of them in relation to a civil law contract, which is an annuity contract. The considerations focus on the question of whether the annuitant, in the event of selling real estate under a life annuity agreement, will pay 19% tax on the income calculated on the value of this real estate. Against the background of the above comments, it should be considered whether the actions taken by the legislator allowed for the creation of a properly functioning model of the source of income in the case of the disposal of real estate for consideration under an annuity agreement. The presented issues entail the inevitability of an analysis of legal issues in this field in terms of the nature of the changes, but also the related practical problems.

Impact of Digital Marketing on Real Estate Customer Patronage in Federal Capital City (FCC) Abuja, Nigeria

Internet, social media, mobile apps, and other digital communications technologies have become part of everyday life for billions of people around the world. It is therefore critical to examine the impact such phenomenon is having the basic essential need of Man (i.e., shelter) particularly in cosmopolitan cities. The study examined the impact of digital marketing on the real estate disposal and customer patronage in the Federal Capital City Abuja, Nigeria. The study adopted survey design. Data collected by the researchers for the study were presented using statistical tools required for data analysis. The Regression Analysis using ANOVA was adopted to analyze the variables of digital marketing on real estate customer patronage. The study reveals that there is a positive relationship between digital marketing and customer patronage. This is evidenced by coefficient value of 0.621. Statistically, the Sig. value of 0.021 is lower than the acceptable significance value of 0.05. Also the result reveals a positive impact of image management on customer patronage. This is evidenced by coefficient value of 0.591. Statistically, the Sig. value of 0.008 is lower than the acceptable significance value of 0.05. The study therefore concludes that digital marketing and image management are the key promoters of real estate customer patronage in federal capital city Abuja, Nigeria. It therefore recommends that digital creative ideas from employees across the organizations is advocated to be given the desired level of attention. This will encourage more digital marketing innovations within the organization that will enhance patronage. Also, business organization should continuously improve the effectiveness of their image management in order to accelerate their overall performance.

Municipal Lex Contractus – Effectiveness of the Terms and Conditions for the Sale of Real Estate from the Municipal Real Estate Stock in Shaping the Real Estate Development Process

The municipality, acting in the sphere of dominium, independently decides on the use and manner of use of individual assets. However, the trade in real estate constituting the subject of ownership of this local self-government unit requires compliance with a number of legal regulations, the most significant of which is the Act of August 21, 1997 on Real Estate Management (consolidated text Journal of Laws of 2021 item 1899, as amended). However, none of the provisions of the law refers explicitly to the freedom and limits of shaping by the municipality of the terms and conditions for the disposal of real estate, which in the case of a non-tender route are determined in negotiations conducted with the buyer, while in the case of a tender they are announced in the contract notice. The content established in this manner is then included in the protocol, which forms the basis for the conclusion of the contract, and thus directly affects the shape of the contractual legal relationship. The purpose of the publication will therefore firstly be to set out the legal framework for the municipality’s determination towards the future buyer of the real estate of the specific manner, in which the investment is to be carried out, as well as to answer the question as to the real possibility of the former owner (municipality) co-shaping the investment proces on the sold real estate after the buyer has signed the contract. The importance of the issue under consideration is expressed in the decision as to whether the creation by the municipality of its own lex contractus by means of the terms and conditions for the disposal of the real estate relating to specific deadlines for the commencement and completion of the investment process, the manner of use and development of the real estate, as well as the liability of the new owner towards the previous owner for their violation, is legally effective and can actually be enforced by the municipality.

Impact of Digital Marketing on Real Estate Customer Patronage in Federal Capital City (FCC) Abuja, Nigeria

Internet, social media, mobile apps, and other digital communications technologies have become part of everyday life for billions of people around the world. It is therefore critical to examine the impact such phenomenon is having the basic essential need of Man (i.e., shelter) particularly in cosmopolitan cities. The study examined the impact of digital marketing on the real estate disposal and customer patronage in the Federal Capital City Abuja, Nigeria. The study adopted survey design. Data collected by the researchers for the study were presented using statistical tools required for data analysis. The Regression Analysis using ANOVA was adopted to analyze the variables of digital marketing on real estate customer patronage. The study reveals that there is a positive relationship between digital marketing and customer patronage. This is evidenced by coefficient value of 0.621. Statistically, the Sig. value of 0.021 is lower than the acceptable significance value of 0.05. Also the result reveals a positive impact of image management on customer patronage. This is evidenced by coefficient value of 0.591. Statistically, the Sig. value of 0.008 is lower than the acceptable significance value of 0.05. The study therefore concludes that digital marketing and image management are the key promoters of real estate customer patronage in federal capital city Abuja, Nigeria. It therefore recommends that digital creative ideas from employees across the organizations is advocated to be given the desired level of attention. This will encourage more digital marketing innovations within the organization that will enhance patronage. Also, business organization should continuously improve the effectiveness of their image management in order to accelerate their overall performance.

Regulatory Impact of Individual Legal Acts of the Courts of General Jurisdiction of the Russian Federation on the Property Relations of Spouses

The paper is devoted to the analysis of the place and role of individual legal acts of the courts of general jurisdiction of the Russian Federation in the mechanism of legal regulation of property relations of spouses. The legal provisions developed by the Supreme Court of the Russian Federation on the following issues are considered and evaluated. They are as follows: on the ownership of objects acquired during the marriage by one of the spouses on the basis of an act of a state or municipal authority; challenging transactions on the disposal of real estate, committed by one of the spouses in the absence of a notarial consent of the other spouse; transfer of an indivisible property to the ownership of one of the spouses in the process of dividing common property; the possibility of derogating from the principle of equality of the shares of spouses in the right to their common property based on the interests of their minor children, as well as the interests of one of the spouses. In general, it is concluded that the legal provisions developed in the individual legal acts of the courts of general jurisdiction are not aimed at creating new legal norms, but at interpreting and clarifying the current legislation, as well as at eliminating contradictions in it. The legal provisions contained in the individual legal acts of the courts, unlike all other legal provisions, are the least static, which is expressed in a relatively quick change in the position of the highest judicial body on the same controversial issue.

Selected topics concerning the rules of representation of parishes of the Catholic Church in the disposal of real estate

In jurisprudence, in cases where the parties are subjects of canon law, it is necessary to take into account their specific situation, which is the circumstance of being subject to two legal orders at the same time. Regardless of how the relationship between civil law and canon law is shaped, it is necessary to take into account the fact of being subject also to canon law. The legal situation of such an entity is determined by two legal orders at the same time. The question whether the internal norms binding within the organisational structure of the Catholic Church have an impact on the validity of legal transactions connected with the management of church property is of primary importance for the resolution of the case. A similar problem has already been considered by the Supreme Court and the Supreme Administrative Court. The purpose of this article is to put in order the positions presented in the above-mentioned scope.

A Study on the Disposal of Real Estate in North Korea after Unification of South and North Korea

A Study on the Disposal of Real Estate in North Korea after Unification of South and North Korea

Legal Regulation of the State-Owned Real Estate Disposal

The paper discusses the problems associated with the state-owned real estate disposal. Two groups of objects that have the features of disposition and disposal are distinguished: objects whose disposition and disposal occur in a general manner after removal of their special status (cultural heritage objects, protective structures), and objects whose disposition and disposal are regulated by special legislation in connection with the special purpose of such objects (housing, subsoil use, water transport). Features of the disposal of such facilities, in particular the need to remove special status prior to the disposal of the facilities, are considered. The problem of registration of rights to land plots under objects that are subject to demolition or are virtually absent is considered. It is concluded that it is necessary to improve the legislation regarding the disposal of facilities, including the development of a procedure for the sale of materials resulting from the demolition of capital construction facilities.

Legal status and perspectives of development for land associations in Slovakia

The paper analyses land associations in Slovakia as specific subjects, which are subject to a distinct way of real estate disposal. They are currently regulated by Act No. 97/2013 Coll. on Land Associations as amended (“the Land Associations Act” or “the Act”). For understanding the institutes of this Act, it is necessary to point to the historical circumstances under which these entities emerged. In the first part of this paper, the paper points to this development and then analyses the current legal situation. In the next part, it describes current issues of land associations, focusing on practical circumstances. In the main part, the paper focuses on problems with their functions, their profitability and future development. Finally, in de lege ferenda part, the paper tries to find possible solutions to these problems and the future of land associations.

企业不动产处置的土地增值税纳税筹划

全国试行“营改增”导致地方财政收入吃紧，地方税征管越来越严格，不动产处置中大量业务被税务认定为“国有房地产转让”而征收土地增值税。为此，结合现行土地增值税法规政策规定，阐明了不动产处置适用的土地增值税政策，探讨了不动产处置业务的土地增值税筹划技术要领，并举例分析了有效运用现行税收法规与政策差异开展土地增值税筹划的显著效果。 The national trial of “business tax reform levy VAT” led to tight local financial revenue, so that the local tax collection and management is more stringent. Most of the real estate disposal was tax identified as “state-owned real estate transfer” business, thus levying land value-added tax. Therefore, combined with the current land value increment tax regulations and policies, the policy of land value increment tax applicable to the real estate disposal is expounded, the technical essentials of the land value increment taxation of the real estate disposal business are discussed, and examples are given to analyze the effective application of the current tax regulations and policies to carry out the land The significant effect of VAT planning.

The legal principles of criminal liability for a title trustee who acts on disposal of real estate in Supreme Court shown case

The legal principles of criminal liability for a title trustee who acts on disposal of real estate in Supreme Court shown case

Analysis of the process of real estate disposal by public tender and related legal and surveying actions on the example of the City of Krakow.

Analysis of the process of real estate disposal by public tender and related legal and surveying actions on the example of the City of Krakow.

Stan rozdysponowania nieruchomości zasobu własności rolnej skarbu państwa

The article tries to evaluate the Agricultural Property Agency’s activity to date regarding its statutory requirements and the permanent disposal of property in particular. The dominant form of disposal of real estate has been sale. From the beginning of the Agricultural Property Agency’s activity, 2.9 mln ha of land has been permanently allocated, of which 2.3 mln ha have been sold. The remaining 1.8 mln ha are subject to further privatisation. Land for sale comes mainly from terminated leasing contracts. Each year the land within lease contracts is decreasing by approximately 100,000 ha. The analysis was based on data of the Agricultural Property Agency’s activity reports, internal studies and available scientific literature. The results presented prove the Agency’s huge involvement in the process of permanent disposal of property considering existing restrictions of Agricultural Property Assets.

Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe

Abstract Corporate real estate disposals have increased in Europe during the past few years. In this research paper, we study market reactions of publicly traded European companies' real estate sale and leaseback announcements during 1998–2004. This study is one of the first ones to study the sale and leaseback impact on corporate value with a pan‐European data. We find that the sale and leaseback announcements have on average positive impact to firm's value which is in line with the previous studies. However, we also find that the positive effect is mainly caused by the deals with high transaction value to company market value ratio. Smaller transactions do not create on average any abnormal returns. Our results support the hypothesis that the positive sale and leaseback announcement effect is a consequence of revealed hidden value of the company's assets. Thus, sale and leaseback can also be seen as a mechanism for revealing the hidden value of company's assets to the market.

A behavioural study of the decision processes underpinning disposals by property fund managers

Purpose – The main aim of this paper is to investigate the specific factors that influence fund managers' decisions to dispose of property.Design/methodology/approach – This study explores the reasons behind the decision‐making processes associated with the disposal of real estate within a portfolio, and the information sources utilised by fund managers. A behavioural finance approach is adopted with the field research carried out as a survey‐based analysis of the disposal decisions made by fund managers in the UK property fund market.Findings – The main reason for disposal of an investment is due, in part, to re‐structuring the portfolio. This is also linked to under‐performance of the asset involved, and current market expectations. The implications for the study are that it identifies that there are links between rational and irrational behaviour in the selection of assets, not only for disposal, but also in terms of investment as a whole. This can be based on the inefficiency of the property market, a...

ACCURACY OF AUCTION SALE VALUATIONS IN DISTRESSED BANK LENDING DECISIONS IN NIGERIA

Of all the sub‐sectors of the national economy, the banking industry and the property market have arguably been most severely affected by the current recession. Thus, the prevailing credit crunch in real estate finance and market conditions have implication for disposal and valuations of real estate for mortgage purposes. The study examined whether forced sale valuations of mortgage properties were a good proxy for their auction sale prices. Relevant data involving 67 auction sales of foreclosed residential property transactions together with their contemporaneous forced sale valuations were pooled together in Lagos Metropolis during the period 1994 to 2003 from sample of estate surveying and valuation/auctioneering firms, the lending institutions and the Nigeria Deport Insurance Corporation. The data obtained were analyzed with the aid of frequency distributions and multiple regression models. The study revealed, amongst others, that forced sale values are not good proxies for auction sale prices as against the conclusions of previous studies on accuracy of open market valuations either in Nigeria or other countries like UK, USA and Australia. The implications of the foregoing conclusions on the lending decisions and valuation profession in the country were further examined in the paper.

Impact of Asian Financial Crisis on Malaysian Corporate Real Estate Disposals

This study examines the stock price reactions to the announcements of corporate real estate disposals by listed non-property companies in Malaysia and whether disposals under different economic conditions lead to different price reactions. The results show that the cumulative abnormal returns associated with the property disposals differ significantly in different economic conditions. Price reaction for property disposals before the Asian financial crisis is consistent with the normal investor expectations of increasing shareholder value. However, property disposals during and after the crisis have negative wealth effects. Cross-sectional regressions show that the Asian financial crisis and the relative size of the disposal are significant factors affecting the abnormal returns. The findings extend the literature on corporate real estate disposal by concluding that price reactions are conditional on economic conditions at the time of announcements on property disposals.

Impact of the Asian financial crisis on corporate real estate disposals

Purpose – To examine the stock price reactions to the announcements of corporate real estate disposals by listed non‐property companies in Malaysia and whether disposals under different economic conditions lead to different price reactions.Design/methodology/approach – This research applies the event study approach.Findings – It is found that the cumulative abnormal returns associated with the property disposals differ significantly in different economic conditions. Price reaction for property disposals before the Asian financial crisis is consistent with the normal investor expectations of increasing shareholder value. However, property disposals during and after the crisis have negative wealth effects.Research limitations/implications – The research is limited in that it has considered only the Asia financial crisis. Further research might explore the impact of other forms of economic conditions on wealth effects of corporate real estate disposals.Practical implications – The research clearly identified...

Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe

Corporate real estate disposals have increased in Europe during the past few years. In this research paper, we study market reactions of publicly traded European companies' real estate sale and leaseback announcements. The results are in line with the results of Slovin et al. (1990), Rutherford (1990) and Fisher (2004). We find that the sale and leaseback announcements have on average positive impact to firm's value. The results support Lewis and Schallheim's (1992) arguments that leasing and debt are rather complements that substitutes. Leasing can also be seen as a mechanism for selling tax deductions. We also find that the average increase in firms' value is clearly higher in sale and leaseback deals, which size is large in comparison with the market value of the seller-firm. Sale and leaseback arrangements seem to offer potential tax and efficiency gains. These and the release of hidden reserves can lead to the positive valuation effects found in the study.

CORPORATE REAL ESTATE DISPOSAL IMPACT ON PERFORMANCE RATIOS

The purpose of this study was to investigate the effects of corporate real estate disposals on corporate performance ratios in Europe between the years 1998–2002. In addition, it was studied whether the retail and telecom corporations that conducted large real estate disposals were in significantly worse condition before the transactions than other corporations in the same business sector. The study indicated that those retail corporations that had divested corporate real estate were less profitable compared to other corporations in the same business sector before the transactions. Similarly, some evidence was found that the telecom corporations that were disposing of real estate had worse capital structure and short‐term solvency before the transactions than other European telecom corporations. It seems, however, that the overall economical environment and other corporate operations have often influenced the development of the performance ratios more than the property disposals, at least in the most volatile business sectors.