Article Abstract:
Solicitors in the UK may find themselves liable for damages if a court decides that they have been negligent by not giving lenders full information during a property transaction. Solicitors may also be considered to be negligent if they do not carry out instructions from the mortgage lender. A solicitor maybe in a difficult position when acting for both borrower and lender. Some solicitors have found that they have become involved in court cases where lenders are trying to regain their losses incurred when property prices fell during the recession.
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Article Abstract:
The new ruling by the UK government which obliges the Land Registry to include the purchase price of properties on the register will also include transactions for commercial buildings. The new ruling is due to become law from Apr. 01, 2000. But the policy may cause problems for the commercial market as the true value of a property is unlikely to be put on the register. Anyone referring to the Registry will therefore be unsure if the figures are correct. The government had hoped changes in policy would make house purchasing easier.
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Article Abstract:
French commercial property law stipulates that developers have to pay a 60,300 French francs fine for each space short on car parking requirements. The French construction index is used to calculate tax rates for offices in Paris. Large retail developments are taxed up to 83.5 French francs per square meter for occupying more than 400 square meters of space. Property developers can reduce the amount they owe on registration duty if they agree to sell the development within a stipulated time limit.
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