Textbook on real estate economics. List of used literature
n1.doc
REAL ESTATE ECONOMY: A TEACHING AIDSource: EUP.RU - Economics and management at enterprises
Sections:
Real estate economics: Study guide - Vladim. state un-t; Compiled by: D. V. Vinogradov, Vladimir, 2007. - 136 p.
The textbook briefly outlines the main provisions of the course "Real Estate Economics". The specifics of real estate as a commodity, evaluation methods, registration and accounting of real estate objects are considered. Examples of solutions are given practical tasks.
Chapter 1. Components and the life cycle of real estate
1.1 Real estate definition
Word " the property"was formed in Russian from three words:" not on movement ny", " them creature" (" them enie"), "own awn". Thus, in the Russian word "real estate" the language fixed the following features: immobility, belonging to someone (I have a thing), belonging on the right of ownership.
Since 1917, after the abolition of private property, the term "real estate" has disappeared from legal circulation and practice. Only after 1990, along with the right to private property, the concept of real estate was revived.
The concept of "real estate" is inseparable from another concept - "property".
Property- a set of property, i.e. subject to monetary value, legal relations in which this person (natural or legal) is located.
Property belonging to any natural or legal person is divided into:
asset: a set of things belonging to a person by the right of ownership or by virtue of another real right; a set of rights to other people's actions (for example, debt property);
liability: a set of things belonging to other persons, but temporarily in the possession of this person; the totality of the obligations of the person.
Historically, since the time of Roman law, property has been divided into movable and immovable.
According to Art. 130 Civil Code Russian Federation(hereinafter referred to as the Civil Code of the Russian Federation) “to immovable things ( real estate, real estate) includes land plots, subsoil plots, isolated water bodies and everything that is firmly connected with the land, that is, objects that cannot be moved without disproportionate damage to their purpose, including forests, perennial plantations, buildings, structures.
Immovable things also include aircraft and aircraft subject to state registration. sea vessels, inland navigation vessels, space objects. Other property may also be classified as immovable by law.
According to the Town Planning Code of the Russian Federation (hereinafter GSK RF), real estate objects are objects in respect of which urban planning activities are carried out. Urban planning activities - activities for the development of territories, including cities and other settlements, carried out in the form of territorial planning, urban zoning, territory planning, architectural and construction design, construction, overhaul, reconstruction of capital construction objects.
In addition, the enterprise as a whole is recognized as real estate as a property complex used for entrepreneurial activities.
In foreign literature, there is a separation of the concepts of "immovable thing" (real estate) and "real property" (real property). At the same time, the first constitutes the material, physically tangible essence of the concept of real estate, and the second designates the legal essence of this concept as a set (package) of property rights of all subjects related to this thing.
At the same time, the composition of the material entity includes: land plots, subsoil plots, isolated water bodies, forests, perennial plantations, buildings, structures, engineering communications, i.e. everything that is firmly connected with the land and cannot be moved without disproportionate damage to their purpose, that is, immovable (physically non-movable) property is presented as the sum of two components: “land” (land) and “improvements” (improvement).
Improvement is what is done by human hands and required the investment of his labor and the expenditure of resources. At the same time, it is accepted that the improvement itself cannot be considered as an object of immovable property separately from the land plot, since it remains immovable and fulfills its purpose only if and when it is firmly attached to the ground.
The legal essence consists of: the right of ownership, the right of economic management, the right of operational management, the right of lifetime inheritable possession, the right of permanent use, mortgage, easements, as well as other rights in cases provided for by the Civil Code of the Russian Federation and other laws.
Encumbrances (restrictions) - the presence of conditions established by law or authorized bodies in the manner prescribed by law, prohibitions that constrain the right holder in exercising the right of ownership or other real rights to a specific real estate object (servitude, mortgage, trust management, lease, attachment of property and others).
For clarity, we present the structure of the concept of "real estate" in the form of table 1.
Table 1. The structure of the concept of "real estate"
| Real estate (real property) |
|||
| Thing (physical entity) | Rights (legal entity) |
||
| Earth | Improvements | Rights | encumbrances |
| land; subsoil plots; isolated water bodies; forests | building; structures; engineering Communication; plantations | property; economic management; operational management; inherited possession; perpetual use | mortgage; easement; zoning rules; protection of monuments; other restrictions; |
Modern Russian legal practice has established a number of signs by which a physical object can be classified as real estate:
strong connection with a certain land plot (impossibility of moving an object without disproportionate damage to its purpose);
completeness in terms of the possibility of using it for its intended purpose;
certified (officially registered) belonging to a specific owner - the state, a subject of the Federation, a municipality, an individual or a group of individuals;
the possibility of physical separation of the real estate object and real estate (i.e. the presence of clearly defined physical boundaries of the real estate object);
functional independence of the property (is it possible to use given object real estate separately from other objects, or its functional purpose involves the partial use of other real estate objects);
the presence (or absence) of easements and other restrictions on the rights of use.
Things not related to real estate, including money and securities, are recognized as movable property. Registration of rights to movable property is not required, except in cases specified in the law.
Urban Planning Code of the Russian Federation. Federal Law of December 29, 2004 No. 190 // Rossiyskaya Gazeta - December 30, 2004
Friedman J., Ordway Nick. Analysis and valuation of income-generating real estate. Peru from English. – M.: Delo, 1997. – 480 p. – ISBN 5-7749-0045-2
Ozerov E. S. Economics and management of real estate. St. Petersburg: Izdestvo "MKS", 2003 - 422 p. – ISBN 5-901-810-04-X
Braginsky M.I., Vitryansky V.V. Contract law. Book two: Treaties on the transfer of property. - M.: "Statut", 2000. - 800 p. – ISBN 5-8354-0024-1
The life cycle of a property (physical) is the period of time during which the property exists as a physical object. The life cycle of a real estate object consists of the following stages (phases):
1. Forming the concept of the project and choosing the option of using a free land plot. During this period, the choice of the option of the best and most efficient use of the land plot is carried out - taking into account the peculiarities of its characteristics and all properties. environment. Based on the analysis, the most productive use case is selected from legally permitted, physically feasible, economically viable and financially feasible. The choice of use case is completed by the development of a specification for the design of improvements.
2. Improvement design. At this stage, on the basis of the technical specifications for the design, a project is developed (by a specialized organization) with the preparation of the documentation necessary for obtaining permits and preparing the land plot (with fixing the shape and size, with the removal of unnecessary natural and artificial vegetation, with the drainage of water bodies) , as well as the laying of communications, the construction of buildings (structures) and the planting of new plantations. Acceptance of the project from the design organization should be carried out with the participation of the management company that participated in the development of the technical assignment for the design.
3. Manufacturing (erection, construction) of improvements. During the project implementation period contractors almost completely change all the physical characteristics of the object, with the consolidation of these changes in the inventory and cadastral documents. During the construction of improvements and as a result of fixing the new status of the object, as a rule, the characteristics of the environment that are related to the created object also change.
4. Circulation (purchase and sale, donation, lease, etc.) with the transfer of a property right or with the appearance of an encumbrance on this right. At this stage, operations are carried out with the object and the change in the legal fate of the latter is registered by the state. When buying and selling an object, the subject of ownership changes. When land and/or improvements are leased or rented out by the owner (or, on behalf of the owner, by the management company), the rights of use (and, possibly, possession) are transferred to another entity with the appearance of an encumbrance of the right of ownership.
5. Use (use) of the object for its intended purpose with technical and operational maintenance. At this stage life cycle the manager (or a professional management company) organizes the rational use by users of the consumer potential of the facility. Over time, the characteristics of the object undergo changes, because. improvements physically wear out and become functionally obsolete, which is exacerbated by changes in the situation in the economy and in the external physical environment, leading to additional, so-called external obsolescence.
During operation, occasionally technical examination and current repair of individual elements of improvements without stopping the use of the facility as a whole.
6. Modernization: overhaul, reconstruction, restoration of improvements with a possible re-profiling (change in functional purpose) of the object. This stage begins at the moment when the object in its current state can no longer meet the modern needs of users or (and) if its operation becomes economically inefficient. At this stage, as a minimum, a major overhaul is carried out without changing the planning solution and functional purpose, but with the elimination of removable physical wear and tear and functional obsolescence.
If the analysis of the best and most effective use land and improvements made at this moment will show the feasibility of a partial change in the functional purpose of the improvements, then the latter are reconstructed with a change in the layout of some of the premises. Naturally, at the same time, the functions of overhaul of the elements of improvements that retain their original functionality are also provided.
If the analysis of the use of the object in its current state shows the need for a complete replacement of its functional purpose, then the reconstruction may be accompanied not only by a radical change in the layout, but also by the extension or superstructure of existing buildings and the development of the free part of the land plot.
7. Disposal, demolition of improvements, landfill or recycling of materials. The life cycle ends with the demolition of improvements at the end of their economic life. The management company prepares proposals for setting deadlines and an economically viable method for demolishing buildings, taking into account the possibility of selling structural elements and materials of liquidated buildings and communications (the volume of liquidation costs is minimized).
It is obvious that some phases are repeated on different stages life cycle. So, for example, the idea of a project to create a new facility can arise both at the stage when a piece of land is completely free, and at the stage of the need for reconstruction, partial demolition or completion of buildings. The circulation phase can be realized repeatedly in the process of the object's life, and the circulation moments determine the time boundaries of the periods that form the basis of the so-called investment cycles.
List of used literature:
1. Ozerov E. S. Economics and management of real estate. St. Petersburg: Izdestvo "MKS", 2003 - 422 p. – ISBN 5-901-810-04-X
1.3 Characteristics of the physical nature of real estate and external environment
Real estate includes: natural ("land") and man-made "improvements" components.
Natural Real Estate Components depending on the sets characteristic features are divided into two groups:
“vacant land plots”, i.e. land plots free from buildings (buildings and structures), communications and perennial plantations, including those with subsoil under the earth's surface, with isolated reservoirs and forests on the surface. These sites are intended for development or production (reproduction) of food, energy, water resources and minerals.
"land with improvements", i.e. land plots with perennial plantings, communications, buildings and/or structures for various purposes
Land plot - a limited and non-movable part of the earth's surface, having closed boundaries, binding the location to a legally specified coordinate system with address landmarks. The characteristics of the land include:
shape - rectangular, oblique, round or elliptical, with notches and ledges;
the size of the area (in hectares - for agricultural land and forests, nature reserves and national parks; in acres - hundreds of square meters - for summer cottages, gardening and suburban areas for individual development; in square meters - for urban planning and development);
the dimensions of the forming lines, including the length of the frontal border and the width of the section (in meters) for sections along highways along which potential users or goods move;
the depth of the layer under the surface of the earth, permitted for the implementation of the owner of the site (up to 5 meters);
topographic parameters - surface irregularities - slopes and hills, rocks and stones protruding above the surface, reservoirs and stream beds;
geological parameters - the composition and strength of the soil, the presence and form of existence of groundwater, the form of organization of underground utilities;
the presence (absence) of perennial vegetation (trees and shrubs).
Of particular importance are the characteristics of the site associated with the location: the prestige of the location area, the remoteness of the site from sources and life support communications, from centers business activity, from highways, from public transport stations and footpaths of mass use, from recreational areas and sources of environmentally harmful impacts. The significance of the location of an object may change due to human activities aimed at changing the environment (landscape, development, provision of communications, etc.).
A land plot may be divisible (in case of retaining the possibility of permitted use of each of its parts) and indivisible. At the same time, permitted is the use that satisfies the rules established by laws or regulations of the authorities in the areas of:
zoning of the territory - placement of objects of any functional purpose only in zones of the corresponding profile (for example, industrial buildings are not built in a residential area);
protection of the environment and human health with limiting the volume of hazardous industries (even in areas of the corresponding profile);
limiting the load on the natural environment by regulating the density and width of buildings while ensuring the safety of green spaces and soil fertility.
Land plots differ in their preferred functional purpose:
plots intended for growing agricultural products (arable land, virgin land, hayfields, pastures, orchards, plantations industrial crops etc., but without buildings intended for the processing of agricultural products);
coastal plots of land of the water fund, used or reserved for use in a mode consistent with the mode of use of the water fund;
land plots of the forest fund, covered with forests, allocated for forestry, reserved for forest plantations;
areas of the production fund located in places or adjacent to places of ongoing, planned or potentially promising development of minerals, as well as used and intended for laying transport and other communications, for building structures and buildings industrial enterprises, energy complexes, defense facilities; ,
plots used or reserved for building up buildings and structures for residential or social purposes in territories belonging to or adjacent to cities, workers, resort and summer cottages, to rural areas settlements;
sites of recreational and health-improving, nature protection, historical and cultural, reserved and memorial values (reserves, national parks, botanical gardens, beaches, places of mass tourism, parks and sites for mass recreation, zones of mineral springs and therapeutic mud).
It should be borne in mind that the functional purpose of land may change due to changes in market preferences that respond to changing needs of society.
Bosom- part of the earth's crust located below the soil layer, and in its absence - below the earth's surface and the bottom of reservoirs and watercourses, extending to depths accessible for geological study and development, containing minerals, energy, water and other resources. Basic information about subsoil plots (usually presented in the State cadastre of deposits and in the state balance of mineral reserves) provides a description of the main and co-occurring minerals, including a description of all components in the composition of the latter.
Information about subsoil plots also provides the possibility of calculating the economic feasibility of developing a deposit based on an analysis of technical, hydrological, environmental and other development conditions. This takes into account the existing ideas about the quantity, quality and degree of exploration of minerals by deposits, about their location and degree of industrial development, about the demand for these resources in the domestic and world markets.
water body- the concentration of water on the surface of the land in the forms of its relief or in the depths, having boundaries, volume and features of the water regime, suggesting a change in time levels, costs and volumes of water.
Forest as a product of natural origin, it includes trees, shrubs, berries, mycelium, herbs of long-term functioning and is represented primarily on forest fund lands:
Forests are divided into three groups:
forests intended to perform water protection, protective, sanitary and hygienic, health-improving, other functions, as well as forests of specially protected natural areas (natural monuments, nature reserves, national parks);
forests in regions with a high population density and a developed network of land transport routes, forests that perform water protection, protection, sanitary and hygienic, recreational and other functions of limited operational significance, as well as forests in regions with insufficient forest resources, the conservation of which requires restriction forest management regime;
forests of regions with large tracts of forests of predominantly operational importance, subdivided into developed and reserved.
Man-made real estate components (improvements) within real estate are divided into the following groups: buildings (buildings and structures), engineering communications, plantings.
buildings conditionally divided into two groups:
buildings designed primarily for human life and activities, as well as for functions provided mainly by humans using machinery and equipment;
structures intended for functions provided mainly by structures, machines and equipment with occasional and small-scale human participation: hydraulic, energy, transport and other structures.
According to the functional purpose, two most important groups of buildings are distinguished: residential and non-residential objects.
Residential properties include:
rooms and apartments, including in non-residential buildings;
residential buildings - single-family (single-family, estate), small-family (small-apartment, block) and multi-apartment (multi-family) capital houses intended for permanent (long-term) residence;
hotels, motels, doss houses, as well as permanent and mobile summer cottages and gardening houses - for temporary residence.
Residential real estate also includes land plots under the respective buildings, as well as their external communications. non-residential premises in residential buildings do not apply to residential facilities.
Non-residential properties include:
industrial buildings and structures related to all industries, including administrative, domestic and auxiliary buildings of enterprises, industrial structures (tanks, chimneys, flyovers, cooling towers), as well as stations, ticket offices, transport agencies, industrial premises in buildings of other functional purposes (including workshops, laundries, dry cleaners);
specialized buildings and structures for research, design organizations and authorities;
storage facilities, including autonomous specialized complexes with transport systems, technical means, heating; equipped hangars; basement and semi-basement premises adapted for warehouses, former bomb shelters, ground floor premises, etc.;
office buildings and premises - specialized business centers with a full range of services, including controlled microclimate, specialized telecommunications services and security systems; administrative buildings converted into business centers with a reduced list of services; separate office premises - including for notary offices, legal and financial institutions and others - in buildings of various functional purposes;
retail facilities (including universal and specialized stores, trade and exhibition complexes, fashion showrooms, markets, etc.);
service facilities - specialized households, pawnshops, fashion show houses and halls, salons, baths, communication enterprises, cafes, restaurants, tasting rooms, centers for solemn ceremonies and ritual services;
sports and entertainment facilities - cinema and concert halls, theaters, casinos, centers, halls and amusement parks, shooting galleries, outdoor and indoor stadiums, hippodromes, courts, golf courses, sports grounds, swimming pools, etc.;
medical and recreational facilities - sanatoriums, rest homes, hospital complexes, nursing homes - facilities that combine a recreational function with a residential one, for temporary residence with rest and treatment, as well as clinics, specialized treatment centers, maternity hospitals, veterinary clinics, pharmacies, winter gardens etc.;
memorial and religious objects - museums, monuments and pantheons, burial places, churches, cathedrals, chapels, monasteries, mosques;
objects of educational, educational and creative purposes - kindergartens, schools, lyceums, gymnasiums, technical schools, institutes, universities, colleges, libraries, studios and houses of creativity, art workshops.
Non-residential real estate objects also include land plots under the respective buildings, as well as their external communications.
Buildings are divided into civil (residential and public) and industrial (including energy, transport, agricultural, warehouse).
At the same time, all types of buildings and structures, except for industrial buildings, but including hotels, motels, and campsites, are classified as public buildings. Public facilities also include facilities for transport services to the population (railway stations, ticket offices, transport agencies), which we refer to a single complex of transport industry facilities.
Buildings are also classified:
according to space-planning solutions (sectional, corridor, sectional-corridor, gallery, hall, span),
by architectural style (rationalism, constructivism, functionalism, modernism, eclecticism, etc.),
according to design schemes and solutions (frame and frameless, with transverse or longitudinal load-bearing walls, prefabricated, monolithic, with suspended cover, shell, thin-walled, pneumatic, blocked),
according to the materials of load-bearing walls (brick, large-panel, large-block, wooden panel, wooden chopped),
by number of floors (single-storey, low-rise - 2-3, multi-storey - 4-9, high-rise - 10-20 and high-rise - more than 20 floors),
by durability (service life - more than 100 years, 50-100 years and 20-50 years),
according to the degree of fire resistance (5 categories, differing in the degree of flammability and fire resistance limit, i.e. the time from the start of the fire test to the appearance of through cracks, loss of bearing capacity or excess temperature rise on an unheated surface).
There are also standard buildings (according to standard projects) and non-standard buildings (according to individual projects).
In management practice, the division of real estate into profitable and non-profitable is also important.
Non-profitable objects include objects intended to meet household, social, religious, socially useful needs of a person and not used for profit, including:
ground under public transport,
land plots under open to the public recreational areas and burials,
state educational and medical institutions,
churches, office buildings public institutions, public and other organizations.
Profitable objects include objects that are leased or used by owners to implement a profitable business - in order to make a profit on the funds invested in the acquisition of an object.
For the purposes of real estate management, it is necessary to have an idea about the main characteristics of the building elements that make up the components of the property, including buildings, as well as the factors that determine the state of these characteristics at different stages of the life cycle of the object.
In addition to the characteristics named above and used in the classifications, the dimensions of buildings and premises are also important: the construction volume of the building (in cubic meters), the area of \u200b\u200bthe premises (in square meters), the linear dimensions of the facade, structures and perimeter, ceiling height (in meters).
More often than others, the concept of the area of \u200b\u200bpremises will be used, which differ in the degree of proximity to their functional purpose:
the main premises intended to perform the main function itself - residential, office, retail, industrial, warehouse;
auxiliary premises - common areas, including corridors, recreational halls, lobbies, stairs, toilets, etc., as well as technical premises designed to accommodate communications, engineering equipment, technical personnel.
The area of the main premises is called useful, the total area of all premises is called the total area, for profitable objects the concept of rented area is introduced, which is equal to the sum of the areas of the main and auxiliary premises.
Engineering Communication- water pipes, gas pipelines, electric cables and wires, sewer communications, communication lines, and roads external to buildings. When describing communications, pay attention to:
materials of manufacture and service life of products,
availability for Maintenance
service life until the next repair,
throughput,
availability for use in remote parts of the site
perennial plantations according to their functional purpose, they are divided into groups:
Producing fruit and berry products - pome fruits, stone fruits, nuts, citrus fruits, vineyards, berries;
producing technical products- rubber plants, hops, tea;
decorative and landscaping - shrub or woody;
field protection - anti-erosion;
hedges - protective strips along the railways.
For all groups, age characteristics are important from the point of view of management tasks:
the period from planting to the start of intended use (berry - 2-3 years, fruit - 5-8 years, technical - up to 10 years, decorative - 5-12 years);
duration of operation for its intended purpose (fruit and berry - 10-30 years, technical - 10-50 years, decorative and landscaping - up to 50 years).
When characterizing plantings, in addition to the properties indicated above, attention is also paid to the thickness of the trunks and the depth of the root system (to assess the reliability when exposed to wind and estimate the cost of eliminating plantings - when clearing the site), the size and trajectory of the shadow from the crown of plants, etc. .
The physical environment of the object functioning created by nature, natural phenomena, as well as the results of man changing nature. This environment forms the material conditions for the functioning and development of real estate.
The physical environment, external to the object, has the following characteristics:
climate: atmospheric pressure, average temperature, amplitude of temperature fluctuations by seasons and time of day, humidity, type, amount and seasonal distribution of precipitation, wind strength and wind rose, cloudiness and sunny days - with the assignment of a set of features to one of the types of climate - continental, marine, subtropical;
predisposition to natural disasters: earthquakes and failures of the earth's crust, floods, flooding, rising groundwater, tornadoes and hurricanes, avalanches and mudflows, icing, epidemics, invasion of insects and rodents;
ecology and predisposition to man-made disasters: the level of pollution of the atmosphere, soil and water bodies, noise, fire hazard of surrounding buildings or forests, the presence of sources of potential danger - production, storage or transportation of chemicals, oil products, explosives, radiation materials, bacterial preparations, etc.;
terrain: plain, desert, mountains, hills, large reservoirs, swamps, glaciers, forests, natural rock formations, caves, etc.;
nature of the landscape: open, characteristic, organized;
the nature of the development - with the allocation of its type: perimeter, frontal, along highways, lowercase, group, mesh, carpet, latitudinal, meridional, terraced, manor;
the nature of the building - with the allocation of its characteristics: the number of storeys, architectural styles, density, the presence and properties of recreational areas, the provision of infrastructure, compositional unity and psychological compatibility of the building with the landscape;
provision of the territory with infrastructure: highways and high-quality roads, energy and utility networks, communication systems, parking lots, gas stations, recreational areas, centers of business activity.
List of used literature:
1. Land Code of the Russian Federation. Federal Law of October 30, 2001 No. 136 // Rossiyskaya Gazeta - October 30, 2001
2. About the bowels. Federal Law of February 21, 1992 No. 2359-1 // Gazette of the Congress of the ND RF and the RF Armed Forces. - 1992. - No. 16. - Art. 834.
3. Water Code of the Russian Federation. Federal Law of November 16, 1995 No. 167 // Russian newspaper - November 17, 1995
4. Forest Code of the Russian Federation. Federal Law of January 22, 1997 No. 22 // Collection of Legislation of the Russian Federation. - 1997. - No. 5. - Art. 610
5. Goremykin V.A., Bugulov E.R. Real estate economics. M.: "Filin", 1999 - 592 p. – ISBN 5-89568-143-3
1.4 Characteristics of the legal nature of real estate objects and the legal environment
Legal basis regulation of relations arising from real estate, are formulated in Art. 71, 72 and 76 of the Constitution of the Russian Federation and are regulated by the legislation of various branches of law - civil, housing, land, etc. The cornerstone of the attitude towards real estate is the right in rem.
Real right It is a right that gives a person legal power over a thing.
According to the Civil Code of the Russian Federation, the following real rights exist:
ownership right (Article 209);
the right of lifetime inheritable possession of a land plot (Article 265);
the right to permanent (unlimited) use of a land plot (Article 268);
the right to manage property (art. 294)
the right to operational management of property (Article 296).
the right to limited use of someone else's land (servitude) (Art. 274, 277).
With the exception of the right of ownership (primary right), all other property rights are rights to other people's things (secondary rights). Almost all rights in rem relate to the main (direct) users of the land plot, with the exception of easement and mortgage, which are external in relation to the property in question and relate to users of neighboring plots and credit organizations.
Property rights is revealed through the characteristics of the powers that are components of the full ownership right. These include rights of disposal, use and possession.
The right of disposal provides the possibility of appointing and changing the legal fate of the object, including by:
transfer of full ownership of the object to another person (under a contract of sale or exchange), or
transferring to another person part of his powers on the rights of trust management, with a partial right of disposal and with full rights of possession and use, or
transferring to another person part of their powers on a leasehold basis - always with the right to use, most often - simultaneously with the right of possession and use, sometimes - additionally with a partial right of disposal by subletting part of the object.
The right of ownership provides the ability to perform certain physical actions with real estate, including changing the use profile and changing the user. The subject of the right to own the premises can close the latter with a lock, replace the covering of walls and ceilings, rearrange or replace furniture in it, provide the premises for use under new feature after the expiration of obligations for the previous functional use, but all within the limits of the rules stipulated by the subject of the right to dispose.
The right to use provides an opportunity to meet personal needs and (or) receive benefits (including income) by using the properties of the object. The subject of the right to use the premises has only a part of the property right that allows the use of this premises for its intended purpose on the terms determined by the subject of a stronger right of ownership.
The subjects of the right of ownership may be citizens and legal entities (private property), the Russian Federation and subjects of the Russian Federation (state property), municipalities (municipal property).
These entities (two or more) may have common property - with the definition of the share of each (share ownership) or without the definition of such shares (joint ownership).
In common joint ownership (without determining shares), the possession and use of property is carried out by all participants jointly, and the disposal is carried out with the consent of all participants, regardless of the person - the direct participant in the transaction.
Right of lifetime inheritable possession provides the subject of this right and his heirs with the opportunity to exercise in relation to this land plot the rights of use and possession (in accordance with the designated purpose of the land to which the plot is assigned) without the right to dispose.
Right of permanent (perpetual) use similar to the previous one, but without the rights of inheritance and the right to transfer the site to other persons for rent or for free use without the permission of the owner.
Right of economic management provides unitary enterprise realization of full rights of use and possession, and with the permission of the owner - and limited disposal (rent, pledge, contribution to the authorized capital) - without limiting the purposes of using the property, but with the right of the owner to receive part of the profit from this use.
The right of operational management identical to the previous law, but has additional restrictions: on the use of property (only for the purposes of statutory activities - with the possibility of seizing part of the property in case of misuse) and on its disposal (there is no possibility of collateral, leasing, etc. - even with the permission of the owner) .
In addition to these basic rights in relation to real estate, additional powers are distinguished:
the right to income received from the operation of the facility;
the right to voluntary alienation (transfer to another person), consumption, spending, change at one's own discretion - up to the destruction of improvements;
perpetuity of possession and protection from expropriation (the right to security);
prohibition to use the object to the detriment of other people;
the possibility of withdrawing the object in payment of debt compensation;
guarantees for the restoration of violated rights.
In the practice of managing an object, each of these components - individually or as a group - can be transferred by the owner to another person under an agreement on certain conditions, after which the full ownership right becomes an encumbrance that limits the possibility of using the object for purposes not provided for by the specified agreement.
Restrictions (encumbrances)- the presence of conditions, prohibitions established by law or authorized bodies in the manner prescribed by law, restricting the right holder in exercising the right of ownership or other real rights to a specific object of immovable property (servitude, mortgage, trust management, lease, attachment of property, and others).
easement- the right in rem to use someone else's thing in the interests of a certain person. An easement may be encumbered with buildings, structures and other immovable property, the limited use of which is necessary outside of the use of a land plot.
The right to use in this case is associated not with the subject of the right of ownership, but with the thing. As a result: in case of transfer of rights to a land plot encumbered with an easement to another person, the legal force of this easement remains; an easement cannot be an independent subject of purchase and sale, a pledge, and cannot be transferred in any way to persons who are not owners of real estate, to ensure the use of which the easement is established.
Encumbrance of a land plot with an easement does not deprive the owner of the land plot of the rights of possession, use and disposal of this plot.
Distinguish between positive and negative easements.
A positive easement is the right of a person who has an easement to perform certain actions to the detriment of someone else's property. For example, a positive easement is the right to ensure passage and passage through a neighboring land plot, laying and operating power lines, communications and pipelines, providing water supply and land reclamation, as well as other needs of the owner of immovable property that cannot be provided without establishing an easement.
A negative easement is the right to demand that the owner of a neighboring plot refrain from certain types of its use. For example, the right to demand not to erect buildings and structures that prevent access to a site of light and air (air and light easement) or spoil the appearance (view easement), etc.
Mortgage- a form of organization for the mortgagor (the person incurring a debt obligation) to receive a loan secured by a real estate object. Mortgage provides guarantees of repayment of the loan by encumbrance of the right of ownership of the subject of pledge with the right of the pledge holder (primary creditor or other holder of the pledge obligation) to preferential satisfaction of the main claim from the value of the pledged object. At the same time, the pledgee does not acquire ownership rights, as well as the rights to use or possess the object, even if the debtor violates his obligations. The right to ensure the repayment of the loan is exercised by the mortgagor receiving the appropriate part of the proceeds from the sale of the object at public auction, carried out by a court decision by a specialized organization. At the same time, court costs and expenses for the sale of the subject of pledge are reimbursed from the said amount of proceeds.
The pledgor is also entitled to receive compensation for losses and penalties arising from non-fulfillment or delay in the fulfillment of obligations, as well as interest for the illegal use of other people's in cash. It is important that the pledgee retains his right to the subject of pledge even in the event of a change in his legal fate by the decision of the owner (pledger).
The following types of restrictions (encumbrances) and servitudes established in respect of real estate objects are most often encountered in urban planning activities:
prohibition to change the intended use or purpose without the consent of the in due course;
the condition to start and complete the construction, reconstruction or improvement within the established period according to the project agreed in the prescribed manner;
a ban on certain types and parameters of the use of a land plot and changes in real estate;
restriction on the use of engineering, transport and social infrastructure facilities that are in municipal or state ownership, located on a land plot provided for ownership, possession, use or lease by a legal or to an individual;
restriction on the use of a land plot in connection with the location of buildings, structures and structures on it that do not belong to the owner, owner, user or tenant of this plot;
the condition to comply with restrictions on the use of a land plot located in the zone of protection of historical and cultural monuments, on the territory of a specially protected natural object, in a water protection zone, within the boundaries of a territory exposed to natural and man-made emergencies, other territories, restrictions on the use of which are established in by law;
condition to fulfill certain works for the protection of monuments of historical, architectural and archaeological heritage, for the arrangement of security, sanitary - protective and other protective zones;
prohibition to change appearance, reconstruction or demolition of a building, structure, structure without approval in the prescribed manner;
the condition to carry out the construction, repair or maintenance of a road, a network of engineering equipment suitable for a land plot, other real estate or passing through the site;
the condition for using the land plot for laying and repairing utility networks of engineering equipment within their repair and construction (technical) lanes;
the condition for carrying out drainage work, the creation of engineering and protective structures on the land plot;
provision of temporary use of a land plot for the production of design and survey works;
the condition for the erection of buildings, structures, structures of a certain height;
creation of protective plantings or other nature protection objects;
providing support on this land plot of buildings, structures, structures of a neighboring plot or overhanging of such objects over this plot;
save condition natural environment habitats and migration routes of wild animals.
A land plot, building, structure and construction may also be burdened with other urban planning restrictions, prohibitions and other conditions of use established in the state and public interests in accordance with the law.
Legal environment for the functioning of the property formed by a system of legislative, executive and judicial authorities and their institutions in cooperation with business entities, property owners and markets, with the use of power on the basis of regulations. The legal environment creates a system of incentives and restrictions for the operation and development of real estate.
The main characteristics of the legal environment include:
the level of legislative and regulatory guarantees of property rights;
the level of complexity of procedures for registration of rights and ensuring the functioning of the object;
stability of the principles of fiscal and customs policy;
legal support guarantees of investors' rights;
legislative provision of the rules for zoning the territory and urban planning;
the level of restrictions on the functioning and development of objects by the authorities for the protection of monuments, departments;
existence of legal restrictions for migrants and foreign citizens;
the level of political risks as the reasons for changes in standards, regulations and rules for the functioning of the real estate market.
The main sources of law in the Russian Federation are normative acts, including laws and by-laws.
The legislative base of the Russian Federation consists of:
The Constitution of the Russian Federation (the law of supreme legal force);
constitutional laws;
Codes of the Russian Federation - Civil, Land, Housing, Water, Urban Planning, Forestry;
federal laws and other acts of the Federal Assembly (decrees, regulations).
Applied to real estate Constitution of the Russian Federation :
guarantees freedom economic activity and protects the rights of private, state, municipal and other forms of ownership;
determines the special status of land and other natural resources as the basis for the life and activities of the peoples living in the respective territory;
establishes the right of private ownership of land by citizens and their associations, subject to their observance of public interests;
guarantees the right of citizens to housing and state protection rights and freedoms of man and citizen of the Russian Federation.
Civil Code of the Russian Federation establishes a system of concepts, norms, institutions and principles that harmonize the entire legislative framework in the interests of the development of market relations, and in relation to real estate provides:
determination of the grounds for the emergence, norms for the implementation and protection of civil rights;
description of the content and elements of the legal capacity and capacity of citizens, including in the field of property relations;
normative regulation of the procedures for the creation and functioning of a legal entity, as well as the property rights of enterprises various forms ownership and organizational structure.
AT Land Code of the Russian Federation the main principles and composition of land legislation are presented, the relations regulated by this legislation are described, the objects and subjects of land relations are characterized, the powers of subjects of law at different levels are ranked government controlled. Here the categorization of lands according to their intended purpose is introduced, the procedure for assigning lands to one category or another is determined, and a system of measures for the protection of the land is stipulated.
The Code establishes the rules and procedure for the transfer of land to citizens and legal entities for ownership and lease, and for legal entities - for permanent use (without the right to dispose). Conditions for the provision of land plots for construction, for conducting a peasant (farm) economy, gardening and horticulture, for summer cottage construction and other purposes not prohibited by law are stipulated.
Water Code of the Russian Federation defines the feature of waters as a special component natural environment. The Code introduces the basic concepts, defines the composition, goals of water legislation, relations regulated by water legislation and the effect of water legislation in time. It defines the concept of a water body and classifies the types of such objects (surface and groundwater bodies; inland sea waters and the territorial sea of the Russian Federation), provides characteristics of surface and underground objects.
Forest Code of the Russian Federation establishes the legal basis rational use, protection, protection and reproduction of forests, increasing their ecological and resource potential. Here it is established that:
purchase and sale, pledge and other transactions that entail or may entail the alienation of forest fund plots, as well as forest plots that are not included in the forest fund, are not allowed;
transactions with the rights to use forest fund plots and the rights to use forest plots that are not included in the forest fund are carried out in accordance with the procedure established by forest legislation, and in the part not regulated by it - by civil legislation;
trees and shrubs may be transferred from one person to another in the manner prescribed by civil law and land law.
housing code RF regulates relations on:
emergence, exercise, change and termination of the right to own, use and dispose of residential premises of the state and municipal housing stock;
use of residential premises of private housing stock;
use of the common property of the owners of the premises;
classifying premises as residential premises and excluding them from the housing stock;
housing stock accounting; maintenance and repair of residential premises;
reconstruction and redevelopment of residential premises;
management apartment buildings;
creation and operation of housing and housing-construction cooperatives, associations of homeowners, the rights and obligations of their members;
providing utilities;
control over the use and safety of the housing stock, compliance of residential premises with established sanitary and technical rules and norms, as well as other legal requirements.
Urban Planning Code of the Russian Federation regulates relations in the field of creating a system of resettlement, urban planning, development, improvement of urban and rural settlements. The issues of development of engineering, transport and social infrastructures in settlements, rational use of natural resources, preservation of objects of historical and cultural heritage and protection of the natural environment are also regulated in order to ensure favorable living conditions for the population.
Federal Law "On State Registration of Rights to Real Estate and Transactions Therewith" establishes the obligation to register and the availability of information about it. It presents the procedure for registration with a description of the registry, the conditions for preparing and submitting documents, as well as the grounds for suspending or refusing registration. Highlighted registration features certain types rights: rights to real estate in condominiums, common property rights, rights to a newly created real estate object, lease rights, easements, mortgages, trust management.
The Federal Law "On appraisal activities In Russian federation" provides for the obligatory assessment of the market and other types of value of real estate objects owned by the Russian Federation, its constituent entities or municipalities - during privatization, transfer to trust management, leasing, in case of pledge, alienation, contribution to the authorized capital, as well as in the event of property disputes. The contractual grounds for the evaluation are prescribed, the requirements for the contract and the content of the evaluation report are formulated. The law obliges appraisers to insure their civil liability, establishes the procedure for regulating appraisal activities, including by approving appraisal standards, defining requirements for the level of education of appraisers and for licensing this type of activity.
Federal Law "On Mortgage (Pledge of Real Estate)" establishes the grounds for the emergence of mortgages and its regulation, including a list of obligations and claims secured by mortgages. A list of types of real estate objects that can be the subject of pledge, as well as characteristics of the right to pledge property as pledge, a ban on the pledge of property withdrawn from circulation, which has become the subject of collection, subject to mandatory privatization or not subject to privatization in general, the conditions for pledge of the right to lease, and as well as common property.
Federal Law "On Subsoil", containing the legal and economic foundations for the rational use and protection of subsoil, ensures the protection of the interests of the state and citizens of the Russian Federation, as well as the rights of subsoil users. It introduces the definition of the concept of subsoil, the scope of regulation, the system of legislative acts on subsoil, the conditions legal regulation relations of subsoil use and features of the implementation of property rights to subsoil. It is provided that subsoil within the boundaries of the territory of the Russian Federation, including underground space and minerals, energy and other resources contained in the subsoil, are state property with the implementation of this right jointly by the Russian Federation and its constituent entities, but without the right of any form of alienation of subsoil plots.
List of used literature:
Constitution of the Russian Federation of 12.12.1993. // Russian newspaper - December 25, 1993.
Civil Code of the Russian Federation (part one). Federal Law of November 30, 1994 No. 51 // Collection of Legislation of the Russian Federation. - 1994. - No. 32. - Art. 3301.
Ozerov E. S. Economics and management of real estate. St. Petersburg: MKS Publishing House, 2003 - 422 p. – ISBN 5-901-810-04-X
Land Code of the Russian Federation. Federal Law of October 30, 2001 No. 136-FZ // Rossiyskaya Gazeta - October 30, 2001
Water Code of the Russian Federation. Federal Law of November 16, 1995 No. 167-FZ // Rossiyskaya Gazeta - November 17, 1995
Forest Code of the Russian Federation. Federal Law of January 22, 1997 No. 22-FZ // Collection of Legislation of the Russian Federation. - 1997. - No. 5. - Art. 610
Housing Code of the Russian Federation. Federal Law of December 29, 2004 No. 188-FZ // Rossiyskaya Gazeta - December 30, 2004
Urban Planning Code of the Russian Federation. Federal Law of December 29, 2004 No. 190-FZ // Rossiyskaya Gazeta - December 30, 2004
On state registration of rights to real estate and transactions with it. Federal Law of July 21, 1997 No. 122-FZ // Rossiyskaya Gazeta - July 22, 1997
On appraisal activities in the Russian Federation. Federal Law of July 29, 1998 No. 135-FZ // Rossiyskaya Gazeta - July 30, 1998
About mortgage (mortgage of real estate). Federal Law of July 16, 1998 No. 102-FZ // Rossiyskaya Gazeta - July 18, 1998
About bowels. Federal Law of February 21, 1992 No. 2359-1 // Gazette of the Congress of the ND RF and the RF Armed Forces. - 1992. - No. 16. - Art. 834.
Real estate as an economic good performs the following functions:
commodity (non-income) - a resource for personal or public use, i.e.:
residential real estate, including a personal plot of land or gardening;
lands and buildings of medical, educational, defense and other socially significant institutions;
a real asset - a resource (factor of production) for the production of goods and services for the purpose of making a profit, i.e. commercial real estate, including industrial, including agricultural land, ponds of fish factories, property complexes enterprises, etc.;
financial (investment) asset, i.e.:
goods purchased for subsequent speculative resale at a profit;
capital in real form, bringing profit from leasing and profitable resale ( commercial real estate);
means of securing financial instruments (securities, including mortgages).
The features of real estate as a commodity include:
the non-movability of the object in space limits the possibility of realizing the transaction only by the parameters of the regional market,
the uniqueness of objects - due to the uniqueness of the combination of a very large number of characteristic features (there are no absolute analogues) - leads to the uniqueness of each transaction in the real estate market;
the durability of the object ensures its presence on the market as an integral part of the offer (hidden or explicit) for a long time with any fluctuations in the market;
the limited land resources and the duration of the creation of improvements lead to a relatively low elasticity of the supply of this product and to the corresponding features of market pricing;
the complexity of the structure of the object with the possibility of variations in the combination of physical and legal properties, combined with the high complexity of market processes, forces the participants in transactions to bear high transaction costs in the preparation and implementation of transactions;
the complexity of market processes, accompanied by difficulties in acquiring information, complicates the tasks of determining, verifying, securing rights, concluding a sale and purchase agreement, organizing settlements between the buyer and seller, forcing the use of intermediary services;
low liquidity leads to a significant lengthening of the exposure time when real estate is sold at market prices.
The features of real estate as a financial asset include:
the heterogeneity of the asset associated with the heterogeneity of the economic characteristics of objects in the aggregate of the latter (due to the uniqueness of each object) significantly complicates the problems of real estate portfolio management;
weak dependence of real estate profitability on the profitability of other assets makes it possible to consider real estate as an alternative when choosing portfolio investment directions;
the relative stability of income from the operation of the facility, ensured by the long-term lease agreements and the following changes in income for inflationary price changes, facilitates economic forecasts and economic risk management;
the inexhaustibility of land and the durability of buildings, together with the enduring consumer value of real estate, provide a high level of guarantees for the safety of invested funds in comparison with other types financial assets;
the need for a high level of initial investment for the acquisition and (or) development of an object - with the required level of independence in profitable operation - significantly narrows the circle of potential users of this type of asset;
the need for highly professional facility management due to high degree the complexity of their structure and the system for ensuring their functioning leads to the need to involve not only brokerage companies, but also management companies in the process of making a profit;
low liquidity and high transaction costs for this asset in comparison with securities reduces its attractiveness in the implementation of speculative transactions.
Operations with real estate- This :
citizens' actions and legal entities aimed at establishing, changing or terminating civil rights and obligations in relation to the property;
legal fact, which generates the legal result that the subjects of the transaction with the property were striving for.
The purpose of any transaction is the acquisition of ownership or the right to use property.
The validity of the transaction is determined through the totality of the following conditions:
the legality of the content;
legal capacity and legal capacity of individuals and legal entities making a transaction;
compliance with the will and will of the participants in the transaction;
observance of the form of the transaction.
If at least one of the above conditions is not met, then the transaction is invalid.
A transaction is considered void if:
committed with a purpose knowingly contrary to the foundations of law and order or morality;
the will does not correspond to the true will;
the form of the transaction and the requirements for its state registration are violated;
the party to the transaction is incompetent, i.e. unable to understand the meaning of their actions;
the transaction of a legal entity goes beyond its legal capacity.
Transactions can be made in two forms:
oral;
written.
A verbal transaction is possible:
if a written form is not established by law or agreement;
for transactions executed at their very conclusion (except for those for which a notarial form is provided, and transactions for which non-compliance with a simple written form entails their invalidity);
for transactions in pursuance of an agreement concluded in writing(if it does not contradict the law, other legal acts and the contract).
The written form of the transaction consists in drawing up a document reflecting the content of the transaction and signed by the person making it.
Written agreements may also be concluded by means of an exchange of documents, by means of postal, teletype, electronic or other communication.
A real estate object can be an object of bargaining and transactions in several manifestations, distinguished by the completeness of the transferred rights:
the property is for sale if the buyer is given full right property (with a full package of powers, including the rights to spend, transfer and destroy the object);
tenant's right for sale if the right of possession and use is transferred to the buyer (tenant) (without the right to dispose, but with the right to change the physical nature of the object);
sale of the right to use if the right of use is transferred to the buyer (tenant) (without the right to dispose of the legal and physical fate of the object);
sale of landlord to receive a regular income by renting out the object on behalf of the owner (possibly through a long-term lease with the right to sublease the object or its parts).
| With change of ownership | With a change in ownership | With the addition of other subjects of rights |
| Purchase and sale | Shareholding | Investing funds |
| Inheritance by law or by will | Change in the composition with the division of property | Construction, reconstruction |
| Realization of obligations (collateral or debts) | Change in the composition of entities upon liquidation of an enterprise | Transfer to trust management |
| Privatization; nationalization | Contribution of property to the authorized capital | Rent, rent, sublease, lease |
| Registration of rent and life maintenance with a dependent | Equity construction with allocation of shares | Transfer to economic management, operational management |
| Seizure of land and demolition of buildings | Making a loan secured by real estate | Transfer of land to inheritable possession and permanent use |
| Exchange and exchange | Resettlement (communal apartment) | Introduction and withdrawal of easements, booking |
| - | Entering a condominium | Insurance |
Purchase and sale- a transaction in which the seller undertakes to transfer the ownership of the property to the buyer, and the buyer undertakes to accept this object and pay a certain price for it. The subjects of the transaction can be both citizens and legal entities.
The real estate purchase and sale agreement is concluded in writing and is subject to mandatory state registration.
D. V. Vinogradov
OPERATIONS WITH REAL ESTATE. ECONOMIC AND SOCIAL ESSENCE OF REAL ESTATE. COMPONENTS AND LIFE CYCLE OF REAL ESTATE. REAL ESTATE ECONOMY: A TEACHING AID
The manual is compiled in accordance with the standard for the discipline "Economics of Real Estate" of the specialty "Economics and Management at the Enterprise (by Industry)" and the training program for this discipline. It covers the main topics of the discipline. State regulation of the real estate market is described, transactions with all types of real estate are considered. Also paid attention to the financing of real estate. Approaches and methods for evaluating real estate objects are described.
Office rooms.
When classifying business centers in each region, various factors are taken into account, according to which the premises belong to a particular class. As a rule, these are: location; type and technical level; quality of the building (finishing level, condition of the facade, central entrance, availability of elevators); quality of management (management company, availability additional services for tenants), etc.
The international classification may not coincide with that used in various regions of Russia (Table 1.1), currently it is practiced to assign classes mainly by the management companies themselves, which does not always reflect the real state of the objects and confuses real estate market participants.
TABLE OF CONTENTS
Introduction
1 Basic concepts and definitions of real estate economics
1.1 Concept, essence and main characteristics of real estate.
1.2 Classification of real estate objects.
1.2.1 The system of classifications of real estate objects.
1.2.2 Classification of residential properties.
1.2.3 Classification of commercial properties.
1.3 Land as the basis of real estate.
1.3.1 The essence of the land.
1.3.2 Land categories.
2 The essence of the real estate market
2.1 The content of the basic concepts and the main functions of the real estate market.
2.2 The influence of strategic directions in the development of the country's economy on the real estate market.
2.2.1 State policy in real estate development.
2.2.2 Economic and social development in the residential real estate market.
2.3 Legislative and regulatory legal acts.
3 State regulation of the real estate market
3.1 Zoning of urban space and state cadastral registration.
3.2 Real estate transactions.
3.3 State registration real estate rights.
3.3.1 Principles of state registration of rights to real estate.
3.3.2 Single State Register rights.
3.3.3 The procedure for state registration of rights to real estate.
4 Real estate valuation technologies
4.1 Types of value of real estate.
4.2 Principles and technologies for assessing the value of real estate.
4.3 Methods for assessing the value of real estate and their practical use.
4.4 Registration of real estate appraisal results.
5 Real estate financing
5.1 Real estate lending.
5.1.1 Emergence and development of mortgage lending
5.1.2 Methods of real estate mortgage lending.
5.2 Real estate financing methods in special cases.
Conclusion Literature
Free download e-book in a convenient format, watch and read:
Download the book Real Estate Economics, textbook, Zhigalova VN, 2012 - fileskachat.com, fast and free download.
Download pdf
Below you can buy this book at the best discounted price with delivery throughout Russia.
The textbook reveals the basic concepts of the discipline "Real Estate Economics", multilaterally explores the real estate market, transactions and securities in the real estate market, the risk management mechanism, the real estate market regulation system. The mechanism of mortgage lending is considered. The practical part in the textbook is located at the end of each chapter and is presented in the form of questions for self-control, tests, tasks and cryptograms. Depending on the method of solving, tests are divided into three types: choosing the right answer, searching for an alternative, term-definition. This publication will allow students to gain knowledge and skills for successful professional activity and (or) to continue vocational education in magistracy.
Step 1. Choose books in the catalog and click the "Buy" button;
Step 2. Go to the "Basket" section;
Step 3. Specify the required quantity, fill in the data in the Recipient and Delivery blocks;
Step 4. Click the "Proceed to payment" button.
On the this moment buy printed books electronic access or books as a gift to the library on the EBS website is possible only with 100% advance payment. After payment, you will be given access to the full text of the textbook within Electronic Library or we start preparing an order for you at the printing house.
Attention! Please do not change the payment method for orders. If you have already chosen any payment method and failed to complete the payment, you need to re-register the order and pay for it in another convenient way.
You can pay for your order using one of the following methods:
- Cashless way:
- bank card: All form fields must be completed. Some banks ask you to confirm the payment - for this, an SMS code will be sent to your phone number.
- Online banking: banks cooperating with the payment service will offer their own form to fill out. Please enter the correct data in all fields.
For example, for " class="text-primary">Sberbank Online number required mobile phone and email. For " class="text-primary">Alpha Bank you will need a login in the Alfa-Click service and email. - Electronic wallet: if you have a Yandex wallet or Qiwi Wallet, you can pay for the order through them. To do this, select the appropriate payment method and fill in the proposed fields, then the system will redirect you to the page to confirm the invoice.
Lecture notes. Taganrog: Publishing House of TRTU, 2004.
The textbook gives an idea of the theory and practice of the functioning of the real estate market as the most important area of business activity, systematized information about the economic processes associated with the real estate of individuals and legal entities, the functioning of the real estate market, methods of real estate management that ensure the effectiveness of this area of activity. It highlights the main areas of activity related to real estate. The tutorial discusses the concept, essence, features and classification of real estate; essence, functions and main characteristics of the real estate market; the main operations of the real estate market and their legislative regulation; methods for evaluating various real estate objects; basic principles of real estate management in modern conditions.
The textbook is intended for students, graduate students and teachers of economic universities, students of business schools, economists, managers and other interested parties.
1. BASIC CONCEPTS AND DEFINITIONS OF REAL ESTATE ECONOMY
1.1. The concept, essence and main characteristics of real estate
1.2. Legal basis of real estate.
1.2.1. Property rights
1.2.2. Types of operations (transactions) with real estate
1.2.3. State registration of operations (transactions) with real estate
3. REAL ESTATE APPRAISAL
3.1. Types of real estate value
3.2. Principles of real estate appraisal.
3.3. Factors affecting the value of real estate.
3.4. Real estate appraisal technology.
3.5. Approaches to real estate valuation.
3.5.1. Comparative (market) approach
3.5.2. Cost approach
3.5.3. income approach
3.6. Determination of the total cost of the appraisal object
3.6.1. Consolidation of evaluation results
3.6.2. Structuring by Hierarchy
4. REAL ESTATE LENDING.
4.1. The emergence and development of mortgage lending
4.1.1. Mortgage development in Russia
4.1.2. Mortgage as a way to secure obligations
4.1.3. Features of mortgage lending
4.1.4. Features of mortgage capital markets
4.2. The main stages of mortgage lending
4.3. Real estate mortgage lending methods
Loan with incremental payments
Canadian rollover
4.4. Types of real estate loans for special purposes
4.4.1. Methods of financing new construction
4.4.2. Housing finance methods
4.4.3. Land Development Project Financing Methods
4.4.4. Real estate financing by installment sale
5. THE ECONOMY OF LAND USE
5.1. Land use features
5.1.1. Land as a natural resource
5.1.2. Land as an economic category
5.1.3. Land management as a tool for the formation of economically justified land use
5.1.4. State land cadastre as an economic and legal system for the functioning of real estate objects
5.1.5. Land protection. Environmental restrictions on land use
