Real Estate / TAG Property (J)



Meet the Co-chairs - TAGLAW

Klose, Dr. Christoph
RWP Rechtsanwälte

Real Estate / TAG Property (J)

Investment in real estate has been affected by the process of financial globalization and has experienced a markedly cyclical behavior. Two periods of expansion can be observed, one in the 1980s and, another one, in the period 1993 to 2003, when non-resident investment increased considerably.

Since 2003, the flow of foreign investment in real estate in our country has suffered a moderate slowdown, but remaining a leader in foreign investment in Spain, being the sector that attracts the most foreign money.

Read more: Settlement of Foreign Inheritances in Spain

Article 1: What is Local Law 97 and Who is Impacted

Local Law 97 On April 18, 2019, the New York City Council passed the Climate Mobilization Act (the “Act”). The mainstay of the Act is Local Law 97, which was designed to gradually reduce city-wide greenhouse-gas emissions in buildings over 25,000 gross square feet by as much as 40% by the year 2030 and 80% by 2050. Building owners take note: buildings which fail to comply with the Act’s emissions targets by 2024 (or which fail to report annual emissions) are subject to financial penalties. Roughly 50,000 buildings, comprising nearly 60% of the City’s building area, will be affected.

Read more: It’s Coming: The Climate Mobilization Act – What Building Owners Need to Know Now

Author: Matthew Curran

The Marshall Government has recently proposed a number of significant changes to the legislation which regulates the retail and commercial property sector in South Australia.

On 3 July 2019, the Honourable Vicki Chapman (Deputy Premier and Attorney General) introduced into Parliament and moved the second reading of the Retail and Commercial Leases (Miscellaneous Amendment Bill) 2019 (SA) (Bill). The Bill proposes a number of substantive amendments to the Retail and Commercial Leases Act 1995 (SA) (Retail Act).

Read more: Proposed Changes to South Australia’s Retail Lease Legislation

Authors: Adam Rinaldi & Tony Britten-Jones

The Marshall Liberal Government in South Australia (State Government) announced as part of its 2019/20 budget measures to change the aggregation principles in the Land Tax Act 1936 (SA) (Act). These budget measures have been the subject of significant political discourse and discontent amongst the investment and development community.

Read more: Land Tax Changes in South Australia

Authors: Bronwyn Clarkson, Partner, Nicola Young Berryman, Senior Associate and Gemma Sweeney, Solicitor

In an attempt to increase efficiency and prevent unnecessary duplication, on 26 March 2019 the Queensland Parliament made a further effort to transition to an electronic conveyancing system by passing the Land, Explosives and Other Legislation Amendment Act 2019. As a result, a number of amendments to the Land Title Act 1994 (Qld) will commence operation on 1 October 2019 and paper certificates of title will no longer have any legal effect.

Read more: Paper Titles Becoming Obsolete in Queensland