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File:Transaction Parties Rights Land Alienation Greyscale.svg

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Captions

Captions

Generic Transactions - parties, rights and land

Summary edit

Description
English: Transactional concepts provide details about state-change to a Land Register.

A rights holder, or other parties with appropriate powers, can undertake formal changes to a party-right-land relationsip. These are: 

 1. A _party variation_ allows an empowered party to transfer (sell) all or part of their _right in land_.
   * All such transfers are _in personam_ - the legal instrument which describes the variation specifically identifies the third party grantee who benefits from the rights transfer.  
 2. A _rights variation_ allows an empowered party to alienate rights (such as access) which can then be transferred to third parties.
 3. A _land variation_ allows an empowered party to split their right (normally ownership) in to multiple spatial parts some of which can then be transferred to third parties.

In this manner a transactional concepts represents a party-right-land _state change_.

When formalised in to a legal instrument, such documents are normally called deeds.
Date
Source Own work
Author Arbeck

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