土地註冊解碼 Decoding Land Registration. 太古城物業土地登記冊樣本 Sample Land Register of a Property in Taikoo Shing

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7 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.

8 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..

9 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.

10 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.

11 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 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.