Property valuation At the end of October this time, emendations to the law came into force, according to which, when buying real estate( a domestic structure or other structures), the land plot under this real estate contemporaneously passes into power.
crucial points to pay attention to
1. When buying a property, the buyer automatically transfers the right to use or enjoy the land.
2. This right extends to lands that are in endless use, as well as leased lands.
3. The law doesn’t apply to apartment structures. In the case of buying an apartment, you buy only an apartment, without land.
still, also he must submit an operation to the original authorities to admit the land for power or use If the new proprietor of real estate doesn’t have the right to admit land for endless use.
It should be borne in mind that when buying a piece of real estate, the new proprietor has the right to use part of the land for their purposes. The size of the plot must be commensurable to the area of the piece of real estate that’s being bought. Part of the land must be allocated to a separate plot and assigned a new cadastral number.
There’s no need to conclude a separate contract for the land. The contract for the purchase of real estate also includes a land description, including the cadastral number of the plot. Documents attesting to the power of a real estate object are the base for registering the right of power or use of land.
Also, when a house or other structure is inherited, the right of power of the land passes to the heir at law contemporaneously with the Property valuation.
See More : http://versatek.com.au/property-valuation-how-to-value-a-house%ef%bf%bc/