I. Study the following words:
Abstract, summary, related documents, title, affect, later owner, deed, will, common, complete abstract, to establish, interfere, to declare, occur, registration, hold, transfer, transaction.
II. Define the part of speech of the following words:
Seller, ownership, useful, document, summary, buyer, recognized, declare, government, interference, registration.
III. Make up sentences with the words given in exercise 2:
IV. Translate the following sentences from the text:
1. The most common form of abstract, called an abstract of title, is used in real estate transactions.
2. An abstract is useful to a buyer because it shows the extent of the seller’s ownership rights.
3. In a few states, an abstract can be used by a court as a basis to declare who owns the property.
4. The property is then registered in the declared owner’s name.
5. It also refers to all agreements made by any owner regarding use of property that would affect rights of later owners.
V. Retell the text ‘Abstract’.
TEXT 24 RATES – VALUATIONS & OBJECTIONS
METHOD USED TO VALUE LAND
Councils may adopt one of three valuation methodologies to value the properties in its area. They are:
Capital Value- the value of the land and all the improvements on the land.
Site Value- the value of the land and any improvements which permanently affect the amenity of use of the land, such as drainage works, but excluding the value of buildings and other improvements.
Annual Value- a valuation of the rental potential of the property.
The Council has decided to continue to use site value as the basis for valuing land within the Council area. The Council considers that this method of valuing land provides a fair method of distributing the rate burden across all ratepayers on the following basis:
The nature of land holdings in the district, and the mix of land uses in the district
State Land Cadastre (SLC) is a system of information on natural and economic situation of the land in the Republic of Kazakhstan, the location, size and boundaries of land, their qualitative characteristics of accounting and valuation of land and other necessary information. Information about land and resource potential of land in the land register, facilitates effective planning and management of land resources.
In accordance with the land legislation of the country organization land cadastre within the purview of the central authority of land administration and its agencies on the ground, and work on keeping SLC attributed to the state monopoly and are a function of state-owned enterprises, supervised by Agency for Land Management
The law provides for the establishment and operation of SLC and its electronic information system in accordance with the administrative-territorial division of Kazakhstan - a republican, regional and district levels. Over the past 10 years in the Republic it was formed the basis of a land inventory of its infrastructure. In this area: Great work on the land cadastre zoning territory was carried out, defined boundaries and codes of accounting areas; developed new forms of land and cadastral documentation: Land Cadastral case, the state land cadastre book, land and cadastral maps; improved technology for land and cadastral maps and records quarters on the base GIS technology and its standardization; improved scientific methods and software cadastre; a restructuring, technical and software production units formed regional centers in the structure of the subsidiaries of state-owned enterprises established regional branches of the inventory.
Agency of the Republic of Kazakhstan on Land Management is focused on creating an integrated system of land cadastre on a single technology, the interaction and coordination with the Center for Real Estate Registration Department of Justice of Kazakhstan, the Ministry of Finance and other government authorities.
