Freehold is the equivalent of the old ‘Fee Simple’. Freehold gives the legal owner full legal title and the right to ‘exclusive possession’ of the property.

With a Freehold title the legal owner has the right to occupy and deal with the property as they choose subject only to any covenants or other restrictions such as planning laws and buildings regulations imposed by the local authority and government.

The quality of a Freehold title may be subject to the ‘class’ of title awarded by HM Land Registry:

Absolute Title – This is the highest class of title available. It is equivalent of the original ‘Fee Simple Absolute in Possession’. The great majority of Freehold properties registered in England and Wales are registered with Absolute Title.

If a property is registered with Absolute Title, the legal estate is vested in the legal owner (‘Proprietor’) together with all interests subsisting for the benefit of the estate (for example, ‘Rights of Way’ or ‘Rights for the passage of water and drainage’ (legally known as ‘easements’) over adjoining land. The legal estate will also be subject to the burdens placed on the land, for example, covenants or easements in favour of adjoining land; but only those burdens that affected the legal estate at the time of first registration.

Possessory Title -Possessory Title is granted where the proprietor’s claim to the property is based on Adverse Possession or where the title deeds have been lost or applicant cannot prove their legal right to the property.

Possessory Title will be granted where the applicant is in actual occupation of the property or in receipt of rents and profits arising from the property and it is not possible to register the property under any to other class of title.

Possessory Title has the same effect as registration with Absolute Title except that it is open to challenge by another party who may claim a right to the property. If however, the proprietor of the Possessory Title holds the title without challenge for twelve years, they can apply to the HM Land Registry to have the title upgraded to Absolute Title.

As a general rule, Mortgage Companies and Banks will not provide mortgages for the purchase of property with Possessory Title. It may however, in some circumstances, be possible to obtain insurance to protect the lenders interest in the property and make the title acceptable to the lender.

Freehold Qualified Title – A Qualified Freehold is very rare. Qualified Freehold is granted where the applicant’s legal right to the property can only be established for a limited period of time or is subject to reservations the effect of which, combine to mean that the title is not a good holding title. An example of this, is where the transfer of the property to the owner is made in breach of trust, such as someone selling the property without the agreement of another party who has a legal interest in the property.

Real estate has several unique characteristics that affect its value. There are economic characteristics and physical characteristics. Real estate is a product to be purchased but it is different from anything else due to the characteristics that will be discussed here.

The economic characteristics that influence value are scarcity, improvements, permanence and area preference. Scarcity is simply demonstrated in the saying, “They aren’t making any more.” The supply of land has a ceiling and cannot be produced more than what exists today. This value of this supply however, is influenced by other characteristics.

Improvements, such as buildings on one parcel of land may have an effect on the value of neighboring parcels or the entire community. If a large company builds in a certain depressed neighborhood, the value of living their will probably increase because of the introduction of jobs. This value would impact on neighboring communities, thus increasing value in some ways to the real estate in these areas.

Permanence has to do with the infrastructure. As buildings, houses or other structures are demolished, the infrastructure, such as sewers, drainage, electricity, and water remain intact. Permanence effects real estate, or the type of infrastructure. If you buy a piece of land in an area with no utilities, drainage or paved streets, it will most likely be worth less than a parcel of land that has this infrastructure intact and developed.

Area preference refers to the choices of the people in any given area. This is usually referred to by most people when they talk about real estate as, “location, location, location.” The location of a preferred area, for whatever reasons, is what makes values of homes higher. Conversely, the location of a nonpreferred area, for whatever reason, is what makes the values of homes less. 8000 square foot brand new homes on the coast of Long Island’s, East Hampton will be worth much more due to their area preference, over an area with 1200 square foot starter homes in the middle of Long Island, located next to a garbage dump.

The physical characteristics of land represent its indestructible nature, immobility and nonhomogeneity. Working backwards, we’ll start with nonhomogeneity. This simply points out that no two parcels are the same. Two pieces of land may be very similar, but every single parcel is different geographically because each parcel is located in a different spot. This includes two lots right next to each other. It is important to remember that parcels are created by subdividing land, so as one large parcel of 20 acres is subdivided, each individual lot becomes its own separate piece of land.

Land cannot be moved, therefore it is immobile. Even when soil is torn from the ground, the part of the Earth’s surface will always remain. It is important here to note how this physical characteristic affects real estate law and markets. Immobility of land is the reason why real estate laws and markets are local in nature.

The indestructibility of land simply means that it is durable and cannot be destroyed. It can be damaged by storms and other disasters, but it remains and weathers the changing times and will always be there. This is a main reason why land is talked about as being a sound investment.

So the basic characteristics of real estate include scarcity, improvements to the land, permanence, area preference, nonhomogeneity, indestructibility and immobility. Please note there is a big difference between land and real estate. Land is the the part of the earths surface, subsurface and air above it. Real estate is anything that becomes attached to land. So when you’re looking for investments, it is important to note the infrastructure of the area, the surrounding neighborhood and the preferences of the area or…location, location, location!

You will find very little information about getting a land grant from the United States government. This has historically been reserved for schools or universities to better educate the masses. Finding information on the subject proves to be very difficult. They are extremely difficult to come by unless you have a worthy cause.

The best way to secure a United States government land grant would be by creating some sort of school or university. It must be within the objectives of the government before it would ever be considered. If your ambitions are industrial or commercial in nature, you will have a much more difficult time getting through the door.

One of the most approved proposals if you do decide to go the land grant route are schools that are unique or cater to a segment of the population that is under served. For example, many land grants were created for the black and Hispanic communities. Many of the schools still in operation today were developed with government land grant money. They have a much higher rate of approval than anything else.

Land grants were enacted to develop more avenues for the farming and technical sector of the US. It is necessary to define enough land to keep these two sectors thriving. There is about one land grant in each state. You can do some local research to see how many of them are actually approved. Land grants costs the government a lot of money so they scrutinize every aspect of the application. They evaluate everything from the cost of the pencils to final construction costs. If you are interested in building some sort of school a land grant is definitely worth your consideration.

As you could imagine, the government receives millions of grant proposals a year. If yours is poorly written it will be discarded and never even considered. It may be to your advantage to secure the services of a grant consultant that will help you in the application process, especially if it is your first time doing this sort of work.

Buying land can be seen as a stagnant investment by few. However, if you compare investing in land with other investments that you want to make, you will know that investing in land is one of the best decisions you have made in your life. Also, it is a safe investment.

Buying land as an investment requires a deep understanding of the growth potential of the place you buy in. Buying next to a highway will be excellent. However, are you buying land in a saturated market? Or are you buying land in a growing market? Many of us may know the I-635 and I-75 highway flyovers under construction. In the same way, when you buy land, you should see the proposals of growth for highways and infrastructure projects. Study the trends in business growth and migration. Taxation policy for businesses may be something you want to observe.

Land is an excellent investment. Not only does it ensure security, it also ensures growth. It maximizes utility and has a greater return on investment than stocks or a Certificate of Deposit (CD). Should you want to build a house on your land, you can do so. You can sell it to a developer should there be an increase in demand for the property due to mobility of workforce or people into the area.

Let us examine investment in land by looking at a few other investment options. If you buy a CD, the return on investment can be lower than the inflation rate. So, you may be basically losing money by investing in a CD. It may be better to pay more money to your payment and ensure that it applies to the principal. Now, regarding investing in stocks, there are very few stocks that perform exceedingly well. Many stocks under perform or do not give the return on investment that one hopes for. Unless you invest in a startup with excellent growth potential, it is unlikely to have a return on investment that is more than the return on investment on a land investment.

If you consider the ratio of land/person, the ratio shows that the land per person is reducing every day. Population growth in the last century outgrew the population growth in the century preceding it. Land is limited in supply. So, it is valuable and ensures a better return on your investment. Even if it loses value, you will have the property and slowly it will regain its value. With all the reasons listed above, buying land is an excellent investment.

There are many factors which will influence and affect land values and these factors may fluctuate from time to time. For anyone who is thinking about land investment it is very important that you know what these factors are and how they may affect land values. You will have an idea of what the land is presently valued and what the potential future value is likely to be.

The keyword here is future and someone who is able to speculate well what the prices of the land will be in future will always be on the gainers side. Here are 6 things that affect land values:

Scarcity

The basic principles here remains the same, that something which is tradable and is available in plenty have lesser value than something which is available in less volume. This factor is very significant and for e.g. we can see that the prices in the prime locations of any city, town or just any region is always higher than prices in the suburbs. This is because the prime locations has much more facilities and amenities which are available and due to which many people want to move over there and set up their business or buy a home there. This increases the demand where as the prices in the suburbs and outskirts are low because land is scarce in the cities and the opportunities are less and lifestyle too is not as good as towns. Here if you are able to buy land that is scarce at a reasonable price you will be able to make a profit for selling later at a higher price.

Arability

There are many land areas which are very fertile and cultivable. Places which are fertile and are cultivable are valued very high than non fertile areas.. If you purchase fertile land, you can easily sell it in the future as arable land is always in demand especially for agriculture. Due to this great demand for arable land the price that can be had is usually good.

Zoning Issues

There are local authorities that will place certain restriction on the kind of development that can be done on the land. Certain areas are zoned for certain kinds of development and amenities. Every land owner must apply for permission from the authorities to do any kind of development on any land. Permission is granted or denied based on zoning laws and other considerations and these all will affect the land price.

Development

The land value is also greatly affected by the kinds of development that takes place on it. If a very successful business is developed on it then you can include it in the overall value of the land. You can also choose to sell off the business while still retaining the property. This can help in earn profit from two sources. Thus, profit is coming from selling the business for a good profit and also a regular fixed income from the use of the land by the new business owner.

Taxes

The land value is also very much dependent on the area it is located in and the taxes that are attached to it. If the land tax is considerably high, then it might be a very god reason for the potential buyer to make another choice. Different states have different tax rates attached to land and depending on the type of land there may be a different tax attached. Also the size of the land will affect the amount of tax paid. Thus the larger the land the more tax will be paid and vice versa. Also the land to be invested in may have tax arrears that must be paid up before any transfer of title can occur.

Security

The safety of the area in which the land as located, is an important factor in determining land value. If the area is one that is crime riddled then the value will be lower. The safer the area the land is located in, the more likely that the land investment can produce positive returns over the long term.

When making a land investment these factors that affect land values are to be seriously considered and steps taken to reduce or eliminate their effects.

A recent survey shows that over 70% of middle class and low-end real estate investors see Ikorodu as a veritable destination in Lagos. Unlike Badagry, Ikorodu is already witnessing what can be considered an impressive rate of development in terms of real estate investments.

Located on the eastern senatorial district, Ikorodu is one of the fastest emerging property markets in Lagos State. About 30 minutes derive from Ojota Bus Stop, this location serves as a gateway between Lagos and Ogun States. Commuters who avoid the Lagos-Ibadan expressway as a result of the occasional traffic grid-lock on the road use the Lagos-Ikorodu road as an alternative route to Ogun State. Ikorodu is about 35 minutes drive to Sagamu in Ogun State.

Development in Ikorodu is rapid as the location is already witnessing a population density evidenced by the heavy traffic situation on the Lagos-Ikorodu road. Popular areas in Ikorodu where development is almost at it’s peak are Agric, Ogoloto, Isawu, Ojokoro, Odogunyan, Igbogbo, Igbo-Olomu and Ijede ( location of the Lagos State Mini Water dam power plant ).

Ikorodu is blessed with many estates, both government owned and commercial. Some of these estates are: T.O.S. Benson Estate, Apeke Estate, Ojokoro Village Estate, Alliance Housing Estate, His Glory Estate, HallMark Estate, Jubilee Low Cost Housing Estate, Toma Estate (Owutu Housing Scheme) etc.

Infrastructural facilities in Ikorodu are gradually being improved upon by the Lagos State Government as previously old, yet to be tarred roads are now receiving the necessary attention.

Water supply to most parts of the town is through privately dug wells and boreholes.

Risk management planning is a key to successful property development. Risk Management, the science of analyzing the risk areas as they have the greatest impact allows property investors assign resources appropriately and/or assess feasibility of property development projects.

A clear understanding of the development process and the ability to quantify risk areas will provide investors with the competitive advantage they need to emerge from the pack in the new economy.

Listed below is an outline of the levels of risk management due diligence key to property development and property planning.

Level 1: Impacts Assessment

1.1 Industry Standards Assessment

Analytical assessment enables property owners to compare existing facilities with business and industry standards. The evaluation of industry standards can be used as a baseline for planning physical building projects.

1.2 Socioeconomic Impacts Assessment

Analytical assessment enables property owners to determine status of socioeconomic impacts on existing and planned future facilities with respect to changes in the business environment. The assessment can be used to help identify social, cultural and economic impacts for planning physical building projects.

1.3 Operational Needs Assessment

Inclusive process enables property owners to identify general business and operational needs which will be used as a baseline for planning physical building projects.

1.4 Condition Assessment (Existing Properties)

Enables existing property owners to better manage their facilities and establish budgets for maintenance and repair.

1.5 Identification of Strategic Planning Objectives

Enables owners to identify key programming needs as it relates to planning for future site and building projects.

Level 2: Concept Development

2.1 Conceptual Site/Campus Planning

Enables owners to assess investment risk based on how well the programmed site elements fit and function on the available site.

2.2 Conceptual Building Planning

Enables owners to assess investment risk based on how well the programmed building elements function in a basic building configuration as it is located on the proposed site.

2.3 Conceptual Phasing Plan

Enables owners to review long term and short term project phasing and the impacts on facility criteria such as operations, capital expense, projected business growth etc.

Level 3: Environmental Plan

3.1 Introduction to Sustainable Building Strategies

Enables property owners to consider different environmentally conscious planning strategies and assess impact on long term building costs.

3.2 Environmental Evaluation

Enables property owners to have conceptual environmental survey of existing facilities to be used as a reference point in future planning projects.

3.3 Sustainable Building Recommendations

Propose conceptual environmental building strategies appropriate as updates to the existing facilities.

Level 4: Risk Management Plan

4.1 Review of Surveys and Reports

Enables owners to have quick check technical evaluation of a site prior to investing extensive time or resources.

4.2 Zoning Analysis

Enables property owners to assess investment risk based on how well the proposed site plan and building meet local planning and zoning requirements.

4.3 Building Code Analysis

Enables owners to assess investment risk based on impacts of current building codes and local amendments.

4.4 Risk Management Scheduling

Enables owners to assess overall investment risk as it relates to project timing and requirement for project funding.

4.5 Cost Estimating

Enables owners to evaluate investment risk as it is impacted by overall project cost and provides comprehensive figure for construction related costs to be incorporated into project financial analysis.

Level 5: Implementation Plan

5.1 Long Range Physical Planning Strategy

Executive summary format enables property owners to have a concise integrated guide for long range planning of physical facilities.

5.2 Short Term Physical Planning Strategy

Executive summary format enables property owners to have a concise integrated guide for short term planning of physical facilities.

Make a plan. Have a plan. You’ll be glad you did!

Of all of the legal agreements that you will have to go over in your lifetime, a real estate development agreement is one of the longest and one of the most complicated. Many of the other forms we’ve looked at here are short; usually one or two pages and they can be filled out and read over in only a few minutes. With a real estate development agreement, you will likely need hours to wade through one of these dense, 10-50 page documents. Let’s take a look at what a real estate development agreement is and why they are so lengthy.

A real estate development agreement is just that, an agreement to develop a parcel of land for personal or commercial use. The agreement can be between an individual and a construction company, a commercial builder and a city or town, a city and town and a retail business or other combinations of the above. Some real estate development agreements between large companies like Wal-Mart and a city or between a company that will be dealing with hazardous chemicals, like a gas station and a city, can be extremely long as they need to cover any eventuality that could arise during building or later on if there is an accident.

The typical real estate development agreement starts off with simple definitions of who is involved with the agreement, the date and where the piece of property that is scheduled for development is. The agreement will also spell out the municipality that is in charge of overseeing the development. The next part of the contract is often the “Witnessed” section that lists all of the necessary steps the builder has had to complete up to this point to have the development agreement approved by the city. The city will make sure that the area you’ve chosen to build on is properly zoned for the type of building you intend to do and they will also check that you’ve submitted a development plan, which is different than this agreement, to the city in advance of this form. Once those steps are met, the meat of the contract is spelled out.

The first section is the definitions that simply spell out what each term used in the contract refers to. For example, the city or builder will likely define what “total cost” means so it can be used throughout the contract. If it is a simple home building contract, there will only be two or three definitions, if the contract is for commercial property, there could be dozens.

Next, the development plan sketches out the project. This section is often short and simply lays down the ground rules of the build, such as the time frame, property limits and so on. The improvements section can be quite long as it outlines all of the improvements this development will do with the city like improving sewer lines that it hooks up to.

The final sections of the contract go over deadlines for building and things like landscaping rules, parking rules and what rules are in place for further building on that parcel of land. Overall, a real estate development agreement is often as complicated as your plan is: simple for homes, complicated for commercial properties.

1. Introduction

Given the wide network of the MRT system in Singapore and rate of building development, the potential of land development along MRT lines is very high. In order to carry out such development, it is very common to see building structures and basement structures adjoining to or directly above the existing MRT lines.

Such construction must be carried out in a manner according to the Code of Practice to avoid detrimental effects on the sensitive MRT structures. It is important to have proper and adequate precaution/ protection measures incorporated in the design and construction works to avoid such effects.

2. Safety and Protection

2.1 Code of Practice for Railway Protection

New developments that are taking place in close proximity to existing MRT lines are subjected to the approval of Land Transport Authority (LTA). Full compliance of the technical requirements must be achieved as specified in the Code of Practice for Railway Protection. The Code requires the developers to ensure that the movement of the MRT structures is limited to the following requirements:

a)       Movement in any direction limited to 15mm;

b)       Rotation of the tracks limited to 1:1666 in any plane.

However, there are cases where the allowable limits may be adjusted according to the site conditions (Doran, et al, 2000). Special care has to be taken when undertaking installation of piles and diaphragm walls with the 1st and 2nd Reserve Lines.

 Safety measures must be adequately in place especially during the installation of piles and diaphragm walls within the 1st and 2nd Reserve Line of the MRT structure. Usage of permanent casings can minimize the potential for any imposed stress on the MRT structure for installation of piles and diaphragm walls.

2.2 Planning/ Design Consideration

Necessary permits from LTA must be approved before any new development in close proximity to existing MRT structures can take place. The various documents to be submitted to LTA for approval includes the following:

a)       Method Statement of Work;

b)       Instrumentation Proposal;

c)       Review Levels for various instruments.

All documents are to be submitted by the Qualified Person (QP) to LTA before the undertaking of any construction of such nature. Site activities are strictly allowed to proceed after approval by LTA. For construction of underground tunnels, exploration, foundation works and development work which would involve the use of a crane, an application for the exemption of the provisions under the Rapid Transit Systems (Railway Protection, Restricted Activities) Regulations* shall be made by the qualified person in writing.

LTA will approve the developmental proposal in writing if the following requirements are compiled with:

a)       Qualified person has complied with the requirements of Clauses 4.2 to 4.5 of the “Code of Practice for Railway Protection” and that all items submitted are found to be in order;

b)       Qualified persons has fully demonstrated and confirmed that it is feasible for the development works to fully meet the technical requirements of Section 10 to 12 of the “Code of Practice for Railway Protection”.

*Application for such exemption can be made using FORM LTA DBC RAIL EXEMPT which is available in the “Guide To Carrying Restricted Activities within Railway Protection and Safety Zones”.

3. Protective Measures

Protective measures are essential when carrying out construction work in close proximity to the MRT structures. The protective measures can include the following:

a)       Rigid retaining structures (e.g. diaphragm walls);

b)       Proper construction methods (e.g. top down construction methods);

c)       Good water tight retaining structures;

d)       Water recharging wells;

e)       Soil improvement techniques (e.g. jet grout);

f)        Debonding of piles and diaphragm walls in the 1st and 2nd Reserves;

g)       Silent Piler.

Instrumentation are also necessary to monitor the changes that might affect the tunnels during the construction works.

3. Conclusions

1)       Good planning and control system consisting of Codes, Guidelines and proper procedures are essential in ensuring the successful execution of new developments near existing MRT structures and maintaining public safety. The establishment of the allowable limits by local authorities based on design conditions and field performance provide a useful guide to the engineers/contractors of these critical projects.

2)       Construction activities within the Railway Protection Zone shall be regularized and controlled by the Code of Practice for and executed under the supervision of competent engineers for minimizing detrimental effects on the existing MRT structures.

3)       The effects of construction on the existing MRT structures hall be properly evaluated by necessary analyses in the design and verified by suitable instrumentation system during construction.

4)       The application of suitable protective measures, e.g. rigid retaining system, soil improvement techniques, special equipment and advanced automatic monitoring systems are fond with significant contribution to the safety control of underground MRT structures in close proximity to construction sites in view of its sensitivity and restricted accessibility. However, proper interpretation of the instrument readings, application of good engineering judgment and supervision by competent geotechnical engineers are needed.

References

1)       Land Transport Authority 2000, Code of Practice for Railway Protection, Singapore

2)       S.K.Kong, Moh and Associate Pte Ltd, Safety Control for Development Adjacent to Existing MRT Structures , Singapore

3)       Doran S.R., Wood T, Tham S.K., Copsey J.P. Shirlaw J.N. & Wen D. 2000, The Assessment of Limits for The Movment of Subway Tunnels and Trackworks Due to Adjacent Construction. Proc International Conference On Tunneling and Underground Structures 26 – 29 November, Singapore

Worthwhile investments naturally require careful analysis. Thus purchasing high country raw undeveloped Colorado, New Mexico, or Arizona land for sale is no exception. We believe that undeveloped land investment is one of the better ways to increase your financial holdings, but doing your research and due diligence remains vital to your success.

Here are a few questions to ask yourself about, for instance, Arizona land for sale.

1. What is the reason for this raw undeveloped land investment in the Arizona land for sale High Country?

This will determine the kind of Arizona land for sale you seek, its location, and price. For instance, you may plan invest in the Rim Country near Payson. You plan might be building a residential second home to escape the heat of the Valley of the Sun. Alternatively, you may want to buy Arizona land for sale in the high country only to hold the investment for a time as values continue to rise due to the many Californians moving in and paying California prices.

2. How can I get the information?

First, visit and become familiar with Arizona land for sale in the area, from Payson through Heber-Overgaard and Show Low-Pinetop to St Johns, Eagar and Alpine. While the fierce development may now be in the areas most readily reached from Phoenix and California, the entire region is likely to see major increases in land value in the next decade. Check the present and possible future zoning for the land to determine if your development idea will work with city and county plans, or to know what kind of value it might have should you want to sell to a future developer. Study the history, political and cultural make up of Gila, Navajo and Apache counties to understand just how they may react to the changes brought about by so many new residents.

3. How should you work with real estate professionals?

Do not choose just any agent. Raw and undeveloped Arizona land for sale investing is a real estate specialty, and you want to work with someone who is such a specialist and knows the likely future development of the area. I suggest that you work with several, compare their opinions and counsel. Even then, you may decide to buy directly from the owner rather than through an agency.

In the White Mountains, you will find a number of owners individually selling off their family property. These are often better deals than those offered through an agency. These are sometimes offered with owner financing.

You can talk to farmers and ranchers with Arizona land for sale. Be on the look out for tax sales and foreclosures, read the newspaper subdivision notices, research the Navajo and Apache county government websites, and generally immerse yourself in what is going on.

4. How do you choose a sub area?

Examine the rate of growth in Payson or Show Low versus outlying areas. The speed with which an area is developing will increase the speed of your appreciation, but you want to find the areas where prices of Arizona land for sale have not yet taken off.

5. How to finance it?

Although financing from banks on raw land is often not available, owner financing is often is. You will need a down payment. For agency-listed property, 25% or more is usually needed to cover the 10% agency fee and 3-4% closing cost. Buying directly from the owner allows you to negotiate more freely sometimes resulting in a nominal down payment.