TEXT 23 ABSTRACT

Abstract, in law, is a summary of the most important points of a long legal document or of several legally related documents. The most common form of abstract, called an abstract of title, is used in real estate transactions. It identifies all deeds, wills, mortgages, leases, or other documents affecting ownership of the property. It also refers to all agreements made by any owner regarding use of the property that would affect rights of later owners. An abstract is useful to a buyer because it shows the extent of the seller’s ownership rights.

A complete abstract shows the entire chain of transfers of ownership from the time the title to the property was first recognized by the government up to the present. It can be used to establish a clear title to property that is, a condition in which no one but the owner holds rights that might interfere with use of the property.

In a few states, an abstract can be used by a court as a basis to declare who owns the property. The property is then registered in the declared owner’s name. This form of registration occurs under a Torrens system

 

I. Study the following words:

Abstract, summary, related documents, title, affect, later owner, deed, will, common, complete abstract, to establish, interfere, to declare, occur, registration, hold, transfer, transaction.

 

II. Define the part of speech of the following words:

Seller, ownership, useful, document, summary, buyer, recognized, declare, government, interference, registration.

 

III. Make up sentences with the words given in exercise 2:

IV. Translate the following sentences from the text:

1. The most common form of abstract, called an abstract of title, is used in real estate transactions.

2. An abstract is useful to a buyer because it shows the extent of theseller’s ownership rights.

3. In a few states, an abstract can be used by a court as a basis to declare who owns the property.

4. The property is then registered in the declared owner’s name.

5. It also refers to all agreements made by any owner regarding use of property that would affect rights of later owners.

 

V. Retell the text ‘Abstract’.

 

TEXT 24 RATES – VALUATIONS & OBJECTIONS

METHOD USED TO VALUE LAND

Councils may adopt one of three valuation methodologies to value the properties in its area. They are:

Capital Value - the value of the land and all the improvements on the land.

Site Value - the value of the land and any improvements which permanently affect the amenity of use of the land, such as drainage works, but excludingthe value of buildings and other improvements.

Annual Value- a valuation of the rental potential of the property.

The Council has decided to continue to use site value as the basis for valuing land within the Council area. The Council considers that this method of valuing land provides a fair method of distributing the rate burden across all ratepayers on the following basis:

The nature of land holdings in the district, and the mix of land uses in the district

 

 

State Land Cadastre (SLC) is a system of information on natural and economic situation of the land in the Republic of Kazakhstan, the location, size and boundaries of land, their qualitative characteristics of accounting and valuation of land and other necessary information. Information about land and resource potential of land in the land register, facilitates effective planning and management of land resources.

In accordance with the land legislation of the country organization land cadastre within the purview of the central authority of land administration and its agencies on the ground, and work on keeping SLC attributed to the state monopoly and are a function of state-owned enterprises, supervised by Agency for Land Management

The law provides for the establishment and operation of SLC and its electronic information system in accordance with the administrative-territorial division of Kazakhstan - a republican, regional and district levels.
Over the past 10 years in the Republic it was formed the basis of a land inventory of its infrastructure. In this area: Great work on the land cadastre zoning territory was carried out, defined boundaries and codes of accounting areas; developed new forms of land and cadastral documentation: Land Cadastral case, the state land cadastre book, land and cadastral maps; improved technology for land and cadastral maps and records quarters on the base GIS technology and its standardization; improved scientific methods and software cadastre; a restructuring, technical and software production units formed regional centers in the structure of the subsidiaries of state-owned enterprises established regional branches of the inventory.

Agency of the Republic of Kazakhstan on Land Management is focused on creating an integrated system of land cadastre on a single technology, the interaction and coordination with the Center for Real Estate Registration Department of Justice of Kazakhstan, the Ministry of Finance and other government authorities.

 

I. Study the following words:

Control, taxation, survey, soil classification, relate, register, assessment, evaluation, decision, land-title, grazing, grassland, subdivide, efficiency, necessary, capability, rate, productivity.

 

1. Give the equivalents of the following word combinations in your language:

 

Land use practice, level of living, cadastral survey, land conservation, land-title system, soil classification, land inventory, land capability, land user.

 

2. Write the following verbs in the Present, Past, Future Continuous Tenses, make up sentences with them:

 

To increase, to plan, to consult, to meet, to demand, to make, to give, to carry out, to develop, to determine.

 

3. Give the antonyms of the following words with the help of prefixes:

Un-: known, developed, pleasant, limited, stable, reasonable, desirable, achieved, natural, successful

Non-: human, natural, moral, resistance, durable, achieved.

4. Read the text and tell what problem is discussed in it: