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proprieta superficiaria

English translation: long leasehold property

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:proprieta superficiaria
English translation:long leasehold property
Entered by: Russell Jones
Options:
- Contribute to this entry
- Include in personal glossary

12:55 Dec 24, 2010
    The asker opted for community grading. The question was closed on 2010-12-27 15:54:09 based on peer agreement (or, if there were too few peer comments, asker preference.)


Italian to English translations [PRO]
Law/Patents - Real Estate
Italian term or phrase: proprieta superficiaria
We are talking about the "Roman" concept whereas there is a difference between land ownership and surface rights (leasehold estate). In this case someone owns the land and someone else builds a building on top of the land. The builder acquires suface rights for 99 years with the possibility of renewing for another 99 years. The constructed building is an apartment building and the apartments are then sold as " proprieta superficiaria " as opposed to totally owned property (land and surface rights).
Howard Sugar
Italy
Local time: 12:51
long leasehold property
Explanation:
This may not be 100% the same thing but, in the UK, this is property owned on a long leasehold, typically 99 or 999 years, on which the "owner" pays a (usually modest) "ground rent" to the freeholder.
Such properties may be sold in mid-term with XX years unexpired.

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Note added at 11 hrs (2010-12-25 00:10:01 GMT)
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It is important to emphasise the diference betwen leasehold and long leasehold.
Selected response from:

Russell Jones
United Kingdom
Local time: 11:51
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3long leasehold property
Russell Jones
4condominium appartment ownership
James (Jim) Davis
3surface tenure
Barbara Carrara


Discussion entries: 11





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
surface tenure


Explanation:
“Surface” rights may exist in two different situations. In the first, a) the landowner may detain the right to construct a building in favour of others, who acquire ownership of it (“ius aedificandi”). In the second b), the landowner may transfer ownership of a building already existing separately from ownership of the land (“proprietà superficiaria” or surface tenure). In
both cases the owner retains title to the land and in the first case the “surface retainer” (the holder of “surface” rights) acquires the right to develop and retain ownership of a building on the land, in the second case acquiring ownership of a building separate from the land.
“Surface tenure” and “surface” ownership rights are acquired by virtue of a contract (sale, exchange, etc.) for which a consideration is envisaged that may consist of a sum paid in a
single instalment or of a sum paid annually (“solarium”).
(www.fig.net/pub/fig2007/papers/ts.../ts05c_01_benvenuti_127...

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Note added at 2 hrs (2010-12-24 15:13:16 GMT)
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While I'm trying to find more from other sources, here's another excerpt (same source as above, better link info below), if at all relevant,
'In the Italian real estate situation, superficial tenure finds limited application in the private sector but is more widespread in the public housing sector. Consequently, there are no data available on market prices for transfer of the land right, nor on “atypical” land leases. It is also important to mention that in Italy widespread lack of transparency persists in the real estate market and its various segments, and the immovable property and financial markets are poorly integrated.'
(http://www.fig.net/pub/fig2007/papers/ts_5c/ts05c_01_benvenu...

Barbara Carrara
Italy
Local time: 12:51
Works in field
Native speaker of: Native in ItalianItalian
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
neutral  James (Jim) Davis: Doesn't Googe too well Barbara http://www.google.com/search?hl=en&safe=off&q="surface tenur... // My first thought was Ahh that's it, very impressive, but then...
4 mins
  -> It doesn't, does it. I must have been too eager on that one...
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
condominium appartment ownership


Explanation:
As in ownership of an apartment in a condominium where your apartment is yours and you share ownership of the public areas with the other apartment owners.


http://en.wikipedia.org/wiki/Apartment

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Note added at 3 hrs (2010-12-24 15:59:27 GMT)
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That would seem pretty close. According to wiki it would be UK specific, but the meaning is fairly self-evident. Why not hide your original post and put this in its place?

http://en.wikipedia.org/wiki/Commonhold

James (Jim) Davis
Seychelles
Local time: 15:51
Native speaker of: Native in EnglishEnglish
PRO pts in category: 136

Peer comments on this answer (and responses from the answerer)
neutral  Barbara Carrara: Ah, but wouldn't this be a commonhold (a form of property tenure in which each flat in a multi-occupancy building is individually wholly owned and common areas are jointly owned)?
55 mins

neutral  Angie Garbarino: This is different, with Barbara
1 day 19 hrs
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11 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
long leasehold property


Explanation:
This may not be 100% the same thing but, in the UK, this is property owned on a long leasehold, typically 99 or 999 years, on which the "owner" pays a (usually modest) "ground rent" to the freeholder.
Such properties may be sold in mid-term with XX years unexpired.

--------------------------------------------------
Note added at 11 hrs (2010-12-25 00:10:01 GMT)
--------------------------------------------------

It is important to emphasise the diference betwen leasehold and long leasehold.

Russell Jones
United Kingdom
Local time: 11:51
Specializes in field
Native speaker of: English
PRO pts in category: 48
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  philgoddard
2 hrs

agree  Barbara Carrara: That's more like it and would be immediately clear to a native ear. (Pls note the typo in leasEhold).
8 hrs
  -> Well spotted Barbara - Christmas Eve syndrome, i.e. one too many!

agree  Angie Garbarino: yes
1 day 10 hrs
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Changes made by editors
Mar 13, 2011 - Changes made by Russell Jones:
Created KOG entryKudoZ term » KOG term


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