Property Transaction in the Digital Age
Zeitraum:
1.09.2010 - 31.12.2011
In Kooperation mit:
ZENIT GmbH
Ansprechpartner:
Prof. Dr.-Ing. Theo Kötter
Verm.-Ass. Dipl. Ing. Sebastian Kropp
Dipl.-Ing. Thomas Rox
Zusammenfassung:
Domestic and cross-border transactions of real estate are becoming increasingly important and are complex economic factors. It is a kernel task of the government to protect owner’s rights and to in-stall a transparent, efficient and secure framework.
Research points out the key principles and best practices that are necessary for installing a functional and effective real estate transaction system. Especially for societies who are just about to build up a real estate market information system in their own country this is very interesting. They can learn from Germany's experience.
As experiences in countries like Germany show transactions can be accelerated through digital ser-vices and thus be made more cost-efficient. They are creating financial resources and leading to progressive process innovations. Demand for information for security rights over real estate is in-creasing. The legally secured documentation of real estate is essential for a successful operation of property transaction. It has to be clear to all participants who the owner of real estate is and its rights thereon. Cadastre and land registration fulfil this task that is crucial for any economic development. Without secure ownership investments are inhibited.
Most of the industrial countries have installed cadastre and land registration systems. But even in high developed countries regulatory mechanisms, who are supposed to build trust and reliability, fail or cannot cover all contingencies as the credit crisis has shown. But when it comes to emerging economies and developing countries situation looks even worse. Even basic conditions usually do not exist. Deficits are on a high level and land must be considered as dead capital since no formal system exists.
