Build a Comparative Guide

1.1

What legislation governs real estate in your jurisdiction?

1.2

What special regimes apply to different types of real estate?

2.1

What types of ownership rights exist in your jurisdiction?

2.2

What ownership structures are commonly used in your jurisdiction?

2.3

Are there any restrictions on real estate ownership in your jurisdiction?

2.4

Is ownership of land and buildings constructed thereon legally separable?

2.5

What security interests can attach to real estate? How are they prioritised?

3.1

What body administers the land register in your jurisdiction?

3.2

Is registration of real estate rights, transactions and encumbrances mandatory? What are the consequences of failure to register?

3.3

What are the formal and documentary requirements for registration?

3.4

What is the process for registration?

3.5

Is registered information publicly accessible?

4.1

What types of commercial leases exist in your jurisdiction?

4.2

Are the terms of a commercial lease regulated or freely negotiable? What do they typically cover (eg, duration; security deposit; rent; sub-letting; termination)?

4.3

What are the formal and documentary requirements for conclusion of a commercial lease?

4.4

What is the process for concluding a commercial lease?

4.5

What are the respective obligations and liabilities of landlord and tenant under a commercial lease, and what are the consequences of any breach?

4.6

How are rent variations typically effected throughout the term of the lease?

4.7

What taxes are levied on rental income?

4.8

Can a commercial lease be triple net?

4.9

How are landlord and tenant disputes typically resolved?

4.10

What types of guarantees are market practice and required by landlords to secure the tenant’s obligations

5.1

What form do real estate transactions typically take in your jurisdiction?

5.2

Which players are typically involved in a real estate transaction in your jurisdiction?

5.3

Is the seller bound by a duty to disclose? What representations and warranties will it typically make?

5.4

What due diligence is typically conducted in a real estate transaction?

5.5

What are the formal and documentary requirements for conclusion of a real estate transaction?

5.6

What is the process for concluding a real estate transaction? How long does this take? What costs are incurred?

5.7

What are the respective obligations and liabilities of buyer and seller, and what are the consequences of any breach?

5.8

What taxes are payable on a real estate transaction?

6.1

Who are the most common providers of real estate finance in your jurisdiction? Do any restrictions apply in this regard?

6.2

What forms of real estate finance are available in your jurisdiction?

6.3

What formal, documentary and other requirements do lenders typically require of borrowers?

6.4

What type of security interests are typically required by lenders?

6.5

What is the process for obtaining real estate finance? What costs are payable?

6.6

How is security enforced in case of any breach?

7.1

Who are the most common investors in real estate in your jurisdiction? Do any restrictions apply in this regard?

7.2

What investment vehicles are typically used in your jurisdiction? What are the benefits and drawbacks of each?

7.3

How are these vehicles established and administered in your jurisdiction?

8.1

How is land use regulated in your jurisdiction?

8.2

What is the process for obtaining planning permission? How long does this take? What costs are incurred?

8.3

Can a planning decision be appealed?

8.4

What are the consequences of failure to obtain planning permission or to comply with a planning condition?

8.5

Is expropriation of land possible in your jurisdiction?

8.6

Is confiscation of land possible in your jurisdiction?

9.1

What main environmental legal provisions apply to the development, use and occupation of real estate?

9.2

Who can be held liable for environmental contamination and how are clean-ups effected?

9.3

What environmental provisions and considerations should be factored into real estate transactions?

9.4

What initiatives are in place to promote green buildings and energy efficiency in your jurisdiction?

9.5

What types of environmental certifications apply in your jurisdiction?

10.1

How would you describe the current real estate market and prevailing trends in your jurisdiction? Are any new developments anticipated in the next 12 months, including any proposed legislative reforms?

11.1

What are your top tips for the smooth conclusion of a real estate transaction and what potential sticking points would you highlight?