KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW -
Hong Kong is one of the most densely populated cities over the world. With very little available land, real estate developers tend to build multi-storey buildings ranging from 30-to-70-storey high. Due to historical reasons, almost all lands in Hong Kong are leasehold tenures. Over the centuries, the Government leased or granted to individuals or corporations a piece of land for use or for development. Therefore, a sale and purchase of landed property in Hong Kong is in fact a transfer or assignment of a lease. In a sale and purchase transaction, the vendor agrees to sell, and the buyer agrees to purchase both the legal estate and the equitable interest of and in the landed property. This article provides a brief introduction to land law in Hong Kong and sets out a summary of the procedures of sale and purchase of landed properties in Hong Kong...
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