太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

太古城物業土地登記冊樣本Sample Land Register of a Property in Taikoo ShingDecoding

土地註冊解碼

Land Registration

Teacher’s Notes for Sample Land Register of a Property in

Taikoo Shing

1. SEARCH TYPE: “CURRENT” AND “HISTORICAL AND CURRENT”

There are two types of search, namely “Current” and “Historical and Current”

enquiries. A “Current” enquiry contains the current information of a property

i.e. the latest transaction in the “Owner Particulars” section and those subsisting

(now affecting the property) incumbrances. A “Historical and Current”

enquiry contains the historical and current information of a property, i.e. all land

documents that have been registered against the property.

2. PROPERTY PARTICULARS

This section provides information such as the lot number and the address of the

property, share of the lot, details of the government lease under which the lot is

held, the annual government rent payable, the lease term and the commencement

date of the term, etc..

3. PROPERTY REFERENCE NUMBER

The “Property Reference Number” (PRN) is a unique computer generated

number assigned by the Land Registry to each land register. The PRN is

shown on the land register to facilitate easy identification and quick retrieval of

the land register.

4. LOT NO.

A unique number allocated by the Lands Department to each piece of land for

identification purpose.

5. HELD UNDER: GOVERNEMNT LEASE

This indicates the type of land grant document by which the property was

granted or leased. Examples of land grant documents include Government

Lease, New Grant, Conditions of Sale, etc.. The lease term indicates how long

the lessee can hold the land. The expiry date of the lease is the end of the lease

term from the date of commencement of lease.

6. SHARE OF THE LOT

Share of the lot refers to the number of undivided shares the unit or premises has

been assigned in relation to the total number of undivided shares into which the

land (on which the whole building or development stands) is divided.

7. ADDRESS

The address of the property shows where the premises or unit is situated.

8. OWNER PARTICULARS

This section provides information on the names of the registered owner(s), the

date on which the owner(s) acquired the property, the consideration involved,

etc..

In general, owner(s) of the last entry under this section is the current owner(s)

who owns the property. The amount that the owner(s) paid for the property is

shown in the “Consideration” column.

9. MEMORIAL NO.

All documents delivered for registration must be accompanied by a memorial.

The memorial number is a computer assigned number indicating the date and

sequence of delivery of the documents.

10. ASSIGNMENT

Mr. Seal bought the property for $8.2 million from Chan Tai Man. They

signed an Assignment through which title to the property is assigned by Chan

Tai Man to Mr. Seal.

11. INCUMBRANCES

The incumbrances section contains information about the registered documents

which affect the property but may not change the ownership. Examples are:

court order, mortgage, occupation permit, deed of mutual covenant, agreements

for sale and purchase, etc..

12. DEED OF MUTUAL COVENANT

A Deed of Mutual Covenant sets out the rights, interests and obligations of the

owners, occupiers, tenants and property management agents in respect of the

control, administration, maintenance and management of private properties,

common parts and facilities of buildings or developments.

13. OCCUPATION PERMIT

An occupation permit usually contains the completion date of a building and the

user restriction of the building and the units in it. You may make reference to

the occupation permit to know about the age of a building.

14. AGREEMENT FOR SALE AND PURCHASE WITH PLAN

In 1984, Chan Tai Man bought the property for $1.9 million. The Agreement

for Sale and Purchase and the Assignment were signed and registered.

15. MEMORANDUM OF OUTSTANDING MANAGEMENT FEES

It is a charge relating to outstanding management fees made by a management

company against the property. This is one type of what people commonly

called “釘契” in Chinese. A buyer should ensure that this memorandum is

cleared on or before completion of the sale and purchase.

16. MEMORANDUM OF SATISFACTION

The registered Memorandum of Satisfaction indicates that the outstanding

management fees have been settled. The property is no longer subject to the

charge relating to outstanding management fees made by the management

company.

17. ORDER NO. INVO00055/HK/10/TA BY THE BUILDING AUTHORITY

This indicates that there were unauthorised building works affecting the

property or defects in the property at the time. The Building Authority has

registered a document to give notice that the property has been charged with the

order until all works specified in the order has been carried out to such standard

acceptable to the Building Authority. Non-compliance with the order will lead

to enforcement action. This is another type of what people commonly called

“釘契” in Chinese. A buyer should ensure that this order has been complied

with or withdrawn on or before completion of the sale and purchase.

18. LETTER OF WITHDRAWAL

As the repair of defects or removal of unauthorised building works has been

carried out to the standard acceptable to the Building Authority, the Letter of

Withdrawal has then been registered.

19. PROVISIONAL AGREEMENT FOR SALE AND PURCHASE

Cheung Sam intends to buy the property for $7.5 million and has signed a

Provisional Agreement for Sale and Purchase which has been duly registered.

20. MEMORANDUM OF RESCISSION

The buyer Cheung Sam wants to rescind the transaction and a Memorandum of

Rescission has been registered (what people commonly called “踢契” in

Chinese). This refers to the situation where the buyer unilaterally refuses to

complete the transaction after signing the provisional or formal Agreement for

Sale and Purchase because the deal is considered flawed and he does not wish to

proceed with the transaction.

21. SEALED COPY OF CHARGING ORDER: NOTICE TO SHOW CAUSE

Chan Tai Man has borrowed money from a bank and is unable to repay the debt

to the bank. The bank has charged the property with the outstanding loan

amount and registered the charging order. A buyer should ensure that the order

has been discharged on or before completion of the sale and purchase.

22. SEALED COPY ORDER

As Chan Tai Man has settled the outstanding debt, another sealed copy order has

been registered to discharge the previous sealed copy charging order.

23. AGREEMENT FOR SALE AND PURCHASE

Mr. Seal bought the property for $8.2 million. The Agreement for Sale and

Purchase and the Assignment were signed and registered.

24. MORTGAGE

After Mr. Seal bought the property from Chan Tai Man, he has mortgaged the

property with a bank for $4 million. Buyers should take note of mortgage

information to make sure that the property is free from mortgage and that the

seller will pay off any outstanding mortgage before the transaction is completed.

25. DEEDS PENDING REGISTRATION

This section provides information on documents affecting the property which

has been lodged with the Land Registry but, for one reason or another,

registration of them has not been completed. Documents listed under the

Deeds Pending Registration section may or may not be eventually registered.

The Land Registry will only proceed to register a document when it complies

with all the requirements under the Land Registration Ordinance.

The date of registration of a document will be the date when it is presented to

the Land Registry for registration and documents that are registered first have

priority over those that are registered after them. Therefore, buyers should

check this section to see if there are any documents delivered for registration

that may affect their purchase.

26. RECEIPT ON DISCHARGE

Mr. Seal has paid off the mortgage and has lodged the Receipt of Discharge of

the mortgage for registration.