Real Property Transactions. Procedures, Transaction Costs and Models

Title page......Page 2
Contents......Page 8
Preface......Page 14
Part 1 - Overview of action and contents......Page 16
Introduction......Page 18
The objectives of the COST Action G9 ‘Modelling Real Property Transactions’......Page 19
Terminology......Page 20
Definitions......Page 21
Procedures......Page 22
Modelling......Page 24
Was the analysis of real property transactions revealed?......Page 25
Transaction costs......Page 28
Performance of the COST G9 Action......Page 31
Conclusion and further work......Page 33
References......Page 36
Part 2 - Procedures......Page 40
Introduction: Real property transfers and property formation......Page 42
System concepts used and relations between them......Page 43
Limitations and working method......Page 44
Basic components of purchase......Page 45
Basic functions for property formation......Page 46
Conceivable but excluded components......Page 47
Background information......Page 48
Rights and encumbrances......Page 49
Purchase......Page 51
Purchase procedure......Page 52
Subdivision......Page 54
Purchase and subdivision combined......Page 56
Rights and encumbrances......Page 57
Purchase......Page 58
Purchase procedure......Page 59
Subdivision......Page 61
Purchase and subdivision combined......Page 64
Comparisons......Page 65
Ordinary purchase......Page 66
Subdivision......Page 68
Purchase and subdivision......Page 71
References......Page 73
Introduction......Page 96
Real property units and transactions......Page 97
Real property transactions......Page 98
Object of a transaction......Page 99
Pure sale......Page 101
Pure subdivision......Page 104
Subdivision combined with sale......Page 107
Costs and duration of transactions......Page 108
Institutional issues......Page 110
Conclusions......Page 111
References......Page 113
Part 3 – Transaction costs......Page 114
Introduction......Page 116
General transaction cost theory......Page 117
Special characteristics of real property transaction......Page 119
Details of property transaction in Finland......Page 122
Real property transaction costs in Finland......Page 126
The Finnish real property transaction process in an international comparison......Page 129
Conclusions......Page 131
References......Page 132
Introduction......Page 134
The real estate segment – the core and issues of boundary determination......Page 136
The cost of ownership transfer in national accounts and in capital stock statistics for buildings......Page 137
A reading of supply and use tables: the case of Slovenia......Page 139
Market agents......Page 141
Main activities related to the performing agents......Page 143
The activities of the segment in terms of the NACE standard classification......Page 145
Discussion......Page 149
Conclusion......Page 151
References......Page 152
Part 4 – Modelling approaches......Page 156
Introduction......Page 158
Terminology and theory behind socio-technical systems......Page 159
Socio-technical systems......Page 161
Concluding the exposé of the socio-technical framework......Page 165
Actors......Page 167
Social elements......Page 169
Technical elements......Page 170
Relations......Page 171
Boundaries......Page 172
Discussion......Page 173
Conclusion......Page 177
References......Page 178
Introduction......Page 182
The legal domain......Page 184
Terminology......Page 186
Classification of real property rights and restrictions......Page 187
Conclusions......Page 193
References......Page 194
Introduction......Page 198
Initial comparison of property transactions......Page 199
Overview of the approach......Page 201
Developing the domain ontology......Page 202
Ontological reasoning to compute correspondences......Page 204
Comparing purchase in Denmark and England/Wales......Page 205
Evaluation of the results......Page 211
Evaluation of the approach......Page 212
Future work and conclusions......Page 213
References......Page 215
Introduction......Page 218
Reference Models for Processes......Page 219
A software engineering reference process: the rational unified process......Page 220
Business processes in the R/3 reference model......Page 221
Reference models in the cadastral domain......Page 222
Inductive development of reference processes......Page 224
Selection of similar process models......Page 226
Computing correspondences by ontological reasoning......Page 227
Suggesting candidates for reference concepts......Page 228
Examples from purchase processes......Page 230
Conclusions......Page 232
References......Page 233
Introduction......Page 236
Hierarchies and their application......Page 237
Subdivision process in an ontological framework......Page 239
Creating the physical objects......Page 243
Creating the social objects......Page 244
Fulfilling the intentions......Page 245
Formalisation of a real world and a socially constructed object......Page 246
Conclusions......Page 249
References......Page 250
Part 5 – Expanding the scope......Page 254
Introduction......Page 256
The evolution of boundaries, property and land ownership in England and Wales......Page 257
The medieval landscape of boundaries......Page 260
Formal enclosure......Page 262
The role of the Ordnance Survey......Page 266
Conclusion......Page 268
References......Page 269
Introduction......Page 276
Beneficiaries of pre-emption rights......Page 277
Ways of effectuating the pre-emption right......Page 278
Pre-emption rights in the Netherlands......Page 279
Pre-emption rights in Slovenia......Page 282
Pre-emption rights in Sweden......Page 286
Comparative analysis......Page 290
Conclusions......Page 292
References......Page 293
Contributors......Page 294