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Common Real Estate Terms … Land Share

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Most of us enter the field of real estate and investment without having any idea about the market, the competitors, and many other real estate terms. This consequently, leads to real estate fraud and loss of money. So, Murabahat for Real Estate Solutions will tackle some of the most common real estate terms like:

1- Land Share of Real Estate Value

To have a land share of the real estate value means that you own a part of the building’s land. As the contract shall contain the item that guarantee your right. Also, it is worth to mention that the price of the apartment that the tenant does not have a right in the land share real estate value, is cheaper that the one that the tenant have a right in its land share.

Importance of Having Right in the Land Share Real Estate Value

It is vital to have a right in the land share as in case of collapse, you have a right in having another property while rebuilding the building.

How to Calculate your Legal Land Share of Real Estate Value?

It is via dividing the area of the land by the number of the floors in the building license and the result will be the area of each floor in the building. Then, calculate the area (size) of each apartment equally or calculate it proportionately in case the sizes of the apartments are not equal.

2- Urban Community Authority

It is the organization that is responsible for locating the new cities, its price, and providing it with the infrastructure. Also, dividing the lands for the real estate investors and the pricing plan.

Conclusion

While indulging in real estate world, there are many terms that shall be known first. The previous was just a quick hint about these hint.