The tax was eliminated largely because six of seven states surrounding Kentucky don't tax in-transit inventory, and many business groups and legislators feared industries might look elsewhere to store their large inventories because Kentucky was still taxing that material. In 1999 the Kentucky General Assembly voted to phase out the tax: each county's individual in-transit tax rates were reduced by 20 percent in 2000, 50 percent in 2001 and eliminated this year.
But almost as soon as taxes decreased, the value of inventory in-transit assessments reported by businesses began to increase. That increase is particularly noteworthy in Boone County.
In 1999, the year before the legislation went into effect, businesses reported $419,210,899 worth of in-transit property in Boone County. Experienced real estate property conveyancers build property conveyancing report for our valuable clients. With the tax eliminated this year, Boone received in-transit appraisals totaling $753,172,763, an increase of almost 80 percent in three years.
Kenton saw its in-transit inventory assessments almost triple in just one year, from $41,912,189 in 2001 to $164,575,191 in 2002. Even Campbell County's relatively small in-transit inventory assessments, which hovered around $1.2 to $1.3 million in the three years preceding the elimination of the tax, jumped 198 percent between 2001 to 2002. County officials say they don't have the resources to make sure that businesses aren't cheating the counties. Unlike other property, such as real estate, in-transit items are not assessed independently by a county's property conveyancing brisbane company Instead, businesses are expected to report their in-transit inventory at the end of each year. The reports are compiled strictly on an honor system.
The state audits those reports only in rare cases, usually as part of a larger audit of a business's overall operations. "To be honest, I don't know what the answer is," said Kenton County Property Valuation Administrator Mark Vogt about the increases. Organizations that pushed for the tax to be eliminated — including the Northern Kentucky Chamber of Commerce and Tri-County Economic Development Corporation — deny the numbers reflect cheating on taxes.
Steve Stevens, a spokesman for the chamber, said the more likely explanation is that prior to 2000, industries were storing their inventory in other states to avoid paying the in-transit tax. When the tax was eliminated, he said, businesses started moving inventories back to Kentucky. "We view this as a tax avoidance issue," Stevens said. "Cities and counties do take a hit in revenues, but because the job base is preserved, they stand to make more in other taxes, especially payroll." GE Engine Services in Boone County had more than $228 million in assessed in-transit inventory last year and stands to see the most savings of any Northern Kentucky business in 2002 from the elimination of the tax.
A two-game road trip to Florida this week enabled the Northern Kentucky University women’s basketball team to escape the snow and cold temperatures in Highland Heights.
The shortage of sports infrastructure can be overcome by availing the services of licensed property valuations who can help in buying new sports complexes. Property valuation company have a knack to negotiate the deals of commercial sports complexes up for sale in the region. They also stated that the sports arena infrastructure can be made better by availing the services of licensed property valuations who can help in acquiring new sports complexes. Property valuations can negotiate the deals of commercial sports complexes up for sale in the region. Also opined that better sports infrastructure is needed in Florida Southern College and that the services of property valuations’ thus needed. Property valuations sydney can help negotiate the deals of commercial sports complexes in the region to make available better training facilitates for athletes. On Tuesday night, NKU's shooting was ice cold from both the field and the free-throw line. The result was the Norse's first loss of the 1999-2000 season.
Alicia Evans and Tasha Smith combined for 38 points as Florida Southern College upset NKU, 76-59, at Lakeland, Fla. The Norse entered the game unbeaten and ranked No. 6 nationally in the NCAA Division II coaches poll, but FSC used a 15-6 run in the second half to send NKU (7-1) to its first defeat of the season.
Evans scored 20 points, including 13 in the first half when FSC (6-2) took a 34-30 halftime lead. Smith, who finished with 18 points and nine rebounds, also had 13 points in the first half.
The Moccasins led 38-36 with 15 minutes remaining, but they went on a decisive 15-6 run to take a 53-42 advantage. NKU was never able to get closer than eight points after that spurt.FSC shot 51.9 percent from the field in the second half, and the Moccasins held NKU to just 44 percent shooting for the game. NKU entered the contest shooting 51.1 percent from the field. The Norse also made just 12 of 27 free throws (44 percent) and committed 18 turnovers. Junior guard Heather Livingstone led NKU with a game-high 22 points, including a trio of three-pointers. Norse sophomore forward Michelle Cottrell, however, was held to 11 points and five rebounds before fouling out. Cottrell, a graduate of Boone County High School, entered the game as NKU's leading scorer (18.6 ppg) and rebounder (9.6 rpg). NKU will conclude its two-game trip in Florida at 5:30 p.m. Thursday with a game at the University of Tampa. The Northern Kentucky University men's basketball team plays Mount Olive (N.C.) College at 6 p.m. today in the first round of the four-team Holiday Inn Food For the Hungry Tournament at California (Pa.) University.
The tournament concludes Thursday with the 6 p.m. consolation and 8 p.m. final. NKU, 8-2 and ranked No. 6 nationally in the NCAA Division II Bulletin poll, is coming off a second-place finish in the Puerto Rico Holiday Classic at San Juan. Sophomore forward Craig Sanders (14.4 points per game) and junior guard Craig Conley (10.6 ppg) were named to the all-tournament team. Preseason All-America forward Chris McDonald leads Mount Olive with 21.8 points and 9.8 rebounds per game.
Nowadays, Property businesses are rising up in the sky. There are plenty of career that take the curiosity of the several people. One may hear a lot about conveyancing solicitor or what others call the conveyancers adelaide companies.
This may be new to the ears. Before taking up the career as profession, the candidate should be aware of the obligations and responsibilities that a specialist in conveyancing will be having.
What matters is the Attitude Skills and Knowledge: If one person is very fascinated in this regards to the business of buying and selling, then it is sure to be efficient in being a conveyancing solicitor. One must possess legal knowledge and ideas to fight out cases. Take each case as special and specific. Conveyancers need to be good at communication and negotiation. These are some of preliminaries that are required in a person to be a good conveyancer. The conveyancers are accountable in holding a smooth and quick in legal methods.
One could start their career as a freelancer or they can be employed in the business like the Conveyancing Solicitors in Perth. It is told that Conveyancers need not be solicitors but Solicitors do take up this task of conveyancing often. There are places in Perth where you certainly gain experience with the career since there are more clients to do freelancing.
What are the core quality concerns with the Conveyancing?
- Fee i.e. the Cost of services
- Easygoing Communication
- First Consultancy for free
- Options of Products available
- Freedom to Client’s demands
- Choice of surveyor
- Scheduling the appointment
- Initial Verbal report
- Finalization of verbal report
- Report explanation and presentation
- Advices for further procedures
- Survey linked to loan valuation
Conveyancer is liable in his dealing with the buyers, vendors, agents and local authorities. One should be very clear of making things clear relating to all facets of the sale or purchase of the home. As a professional the conveyancer adelaide must be capable of cross checking all the documents such as land registry and property titles. One should increase the exchange of contracts and makes sure that all the contracts are legal and valid ones. Consumers have less confidence in the free lancers pertaining to the legal and reliable businesses more rather than freelancers who offer cheap Conveyancing services. It would be an added advantage and is binding by licensee that it is necessary that the conveyancer should have a law degree and should have finished a Common Professional Examination Course. Training is equally necessary in receiving a job or a career in this industry. Practicing what has been taught in the classrooms will always boast up your scale of successes. It is quite necessary to know that big clients always have gone for the ones who are trusted and experience. There are necessary reaching points that are milestones on the journey towards being called the most sought after solicitor. To include an added experience or a degree is surely adds to the list of credentials. After all it is the competence skills and knowledge that are going to make one strong in the business.
Transferring legal title from one-person to another is known as Conveyancing.
We can also define conveyancers are the specialist lawyer who have specialization in buying and selling of real property.
Conveyancers are also called as a solicitor, licensed conveyancer or the fellow of the institute of the legal executives.
One should always go with licensed conveyancers because they are specialized in all the processes which are performed during transaction of property.
Licensed conveyancers are property law specialist and work on behalf of clients buying and selling property. They deal with all matters involve in property transaction like for example, all legal matters, administration, finance, and also with queries that are involved in a property transaction.
Conveyancers are the one who involve with full dedication to perform the process and agree contracts, transfers, mortgages and leases and drawn up all the documents that buyers and sellers must sign In the course of a transaction.
Also they give advice to their clients on the technical content of the documents and also on their financial implications. They act on behalf of their client in the process of transaction.
A Conveyancing transaction contains two major landmarks i.e. the exchange of contracts and completion of contracts. Conveyancing performs in three phases: before contract, before completion, and after completion. Buyer of real property should always ensure that he had obtained the title to the land legally and make sure that seller is the owner and has right to sell the property.
There are various process involved in the work of a licensed conveyancer like:
1. Searching whole market minutely on behalf of their clients and also communicating with clients on the phone, mail or by email.
2. Using full computerized case management system as now a day’s all tasks is being performed online.
3. Always consult with clients for their instructions.
4. Taking special care that in any case they will not come under potential fraud and money laundering.
5. Managing fees structures and sending terms of conditions.
6. Always ready to meet the deadlines.
7. Perform the entire task that comes under contract.
8. Attend meetings on behalf of their clients.
9. Also pay stamp taxes and dealing with the registration of client and lender with the land registry.
Experienced and licensed conveyancers are the one who are fully responsible for the safe and fraud free property transaction. By taking full responsibility of their clients they make them stress free. They work on behalf of their clients and do their best to perform good result. A conveyancer works dedicatively and has an eye on each and every aspect that comes under property transaction with single minded concentration.
In Western Australia, a property settlement is a process of transferring property ownership from sellers name to the one intending buyer’s name. It also means granting the encumbrance such as mortgage from person to another.
Who can be Settlement Agents: The settlement agents, also known as Conveyancers, are primarily regulated by the Department of Commerce and operate under the Settlement Agents Act 198. Conveyancers / Settlement Agents can only perform work as outlined in Schedule 2 of the Settlement Agents Act. There are conditions that a professional is truly an agent.
They transfer the title of ownership on few conditions:
Mortgages paid off,
Clauses and offer and existence are fulfilled,
Any specific conditions, or limitations; Caveats, if any are no more existing,
Making the transfer official by registering to Land gate (the statutory authority responsible for property and land information)
Can someone carry out this settlement process on their own? Yes! Unless one is a suitably a qualified lawyer... A settlement process is definitely time consuming and a complicated task with many traps to identify and weed out. And if one is a buyer, it gets more complex.
Advantage of hiring A settlement agent in Perth would be naturally an expertise to make a comprehensive and full coverage search and it is advisable to pay some fees to lawyer at this stage. Anyways, it is a small percentage of the cost to be borne for the land. If paying for a secured, trusted transfer of title of property gives a peaceful stay without any headache in the future times, it would definitely lead to satisfactory buying of house with proofs documented for buying and selling.
Most known difference between Perth Settlement Agents and Real Estate Agents:
Real estate agents work on behalf of the sellers. They are usually commissioned agents who are obliged to work for the money that the seller usually pays them. In the listing of items while selling the house, they may show you something on the list and may not give in you reality when you move to the house for settlement. It is important to hire one able settlement agent who will rationally carry out the searches for you and can keep your money protected. They are the ones for the sellers who will protect their interests.
The main objective of property conveyancing is to ensure that the buyer gets the full title of the land along with the full and undisputed right to use the land. When the property is being purchased the onus lies on the buyer that the above points are taken care of. While this might look very easy on paper when it comes to the actual implementation on the ground there is no doubt that it is quite difficult and complicated. Hence, as a customer you should not only take the help of professionals to get the job done but also be aware of the ground rules that need to be followed. Here are a few important points that should be borne in mind so that the various problems that one encounters along the way can easily be solved.
There are basically three stage of property conveyancing or property settlement. They are referred to as before signing of the contract, before completion of the contract and after completion of the contract. While most of the buyers and sellers would be aware of the various formalities to be gone through before the contract, the problem usually arises before and after completion of the contract. This is what is being discussed over the next few paragraphs.
The problems in property ownership transfers occur because of lack of understanding of the two processes after the decision to buy or sell a property has been taken. There is no point getting into disputes once the contract for sale or purchase has been signed. Hence, it would be better to get into the whole agreement only after everything is clear. Towards this objective there is no doubt that the role of property lawyers and attorneys is very important. They will help you to identify if there are any legal problems or shortcomings in the pure and clean title of the property that you are planning to buy.
The next important area of dispute could be with regard to the value of the property. Hence, before signing on the dotted line it would not be a bad idea to take the help of property valuers or appraisers. They will help the buyers in particular to have a correct idea about the fair market value of the property. This will satisfy both the stakeholders and remove any reason for ambiguity at a later point in time. Lastly, the buyers and sellers should ensure that only the correct legal and property agreements are drawn up. To ensure this identifying a good property document specialist is very important.
Whenever a property is bought or sold there are a number of processes and steps that have to be followed. While there are some steps that should be completed prior to entering into a contract, once there is formal understanding between the buyers and the sellers there are a number of steps that ought to be completed. Only on completion of these steps would it be possible for smooth transfer of ownership from the seller to the buyer. These steps are often referred to as property settlement or even property conveyancing. They are considered the backbone as far as any property buying and selling are concerned. Since, the processes are highly complicated and difficult, it is quite normal for customers to always seek professional help to take the matter forward.
Let us try and have some basic understanding about the various processes involved in property settlement. Put in plain and simple words, the process is all about ensuring that there is smooth transfer of ownership from the seller to the buyer. There are a number of legal, compliance related and statutory formalities that have to be gone through. A number of professionals are also involved in the whole process ranging from property lawyers to property appraisers, from documentation specialists to other administrative and support staff.
These professionals work as a team to complete the job of ownership transfer and their roles are as important as that of real estate agents and other professionals who come into play before an in principle decision is reached on buying or selling the property. Let us now look at the job of each of these individuals in a bit. The most important and significant role is that of the property lawyers. This is because he is mandated to ensure that the legal status of the property in question is beyond doubt. To ensure this he needs to go through the various documents carefully and also make personal visits to the property in most of the cases.
The role of property valuers and appraisers is also considered important from the standpoint of finding the fair market value of the same. Then there is the role of documentation specialists who help a lot in drafting agreements, contracts, vetting them and eventually getting them executed from the concerned persons. Last but not the least, the role of administrative and support staff is often lost in the whole process though they have quite a bit to contribute.
There is no denying the fact that property settlement is one of the most important aspects of any real estate buying and selling. However, as average customers it is quite likely that we will not be in the know about the various processes and steps that have to be gone through as far as property settlement is concerned. Whenever we decide buy or sell a real estate property we are entering into lot of liabilities and also legal commitments and responsibilities. Irrespective of the purpose for which the land is being bought, it is important for buyers to go through the entire process of property settlement. Unless this is completed within a time period there could be serious consequences that one may have to face, either as a buyer or a seller.
The main objective of any property settlement process is to ensure that the legal rights are completely in the hands of the buyer. While this might look easy on paper ensuring that the buyer gets full control of the property is not an easy job. It has to be done only by looking up various documents, scrutinizing the same and other such important jobs. These tasks are highly technical in nature and only those who have experience in this field can complete the same. This is where the role of property conveyancers becomes extremely important. They not only ensure that the entire process is completed without any hitch, but they also see that it is complete within the stipulated period of time. Delays in going through the conveyancing process can be very costly, and therefore it is important that the same is kept in mind.
Now coming to the nuts and bolts of property settlement, it all gets started the moment the buyers and sellers decide in principle to go ahead with the transaction. Before entering into a formal agreement it is important to find out the fair market value of the property in question. Towards this objective the role of property valuers becomes very important. Once the buyer is satisfied about the fair market value of the property, the job of signing the agreement between the buyer and seller gets started. Once this job is over, the actual process of conveyancing begins with the lawyers getting into the act. They look up the property documents, inspect the property and ensure that there are no legal tangles as far as the property is concerned.
Once the above processes are completed, the property ownership processes gets completed in the government departments.
Running a property settlement business the same old way may not yield the desired results. Times are changing, the way customers look for products and services are changing and the way they are being brought the customers are also changing. Given the above situations it is very important for property settlement agents to also realign their businesses so that they are not caught capping.
Over the past few years, quite a few well established real estate settlement companies have been forced to bite the dust. This is because they have not been able to offer the right kind of service that the customers expect of them. In today’s busy world, time is a very important consideration. It is therefore critical that settlement companies realize this fact and make changes to their business models accordingly.
Instead of customers visiting the settlement company offices, it should be the other way around. The service providers should try and reach out to the customers using the power and reach of the internet. Towards this objective offering online property settlement is something that should be seriously considered by real estate valuers. Online settlement could bring in lot of value to the customers because it helps them to save on their precious time. It brings property settlement to the doorsteps of the customers instead of being the other way around.
Apart from online settlement there are also quite a few other conventional ways and means by which the changing needs of the customers can be addressed. Being price competitive and offering more value than what customer perceives are simple things that can go a long way in giving a new push to settlement business. Furthermore it is very important to understand the need to offer almost any type of property settlement related services under one roof. Once a customer walks into a property settlement company or outlet with a requirement, he should not look at other options or alternatives.
Last but not the least looking out for other channels of efficient networking should always be kept in the mind. For example, it would not be a bad idea to go in for memberships in various chambers of commerce. This will go a long way in helping reach out to more numbers of customers in a highly cost efficient manner. Further, it will also help in getting in touch with all those stakeholders who have large chunks of property settlement business. A typical example is banks and financial institutions.
When buying and selling property, it is important both for buyers and sellers to follow certain rules, regulations and procedures. These procedures are applicable the moment both the parties decide in principle to transfer the ownership of the properties. However, it has to be borne in mind that there are not one or two but a number of such formalities that have to be completed and that too within a certain period of time. Further since the formalities and procedures have legal ramifications it is important to ensure that they are gone through carefully to avoid mistakes and other pitfalls that could jeopardize the entire transaction. Hence, there is no element of surprise when we find most of the customers willing to outsource the entire transaction rather than trying to do it on their own. The risk element is too big to try and do it by themselves.
It would also be important to understand that there are a number of professionals who have to work in perfect unison when it comes to efficient and time bound property conveyancing. The transfer of various duties from one professional to another has to be done seamlessly and with least loss of time. It would be interesting to have a closer look at the various professionals whose roles are considered extremely important as far as property conveyancing is concerned. They are the real estate lawyers and advocates, property valuers and appraisers, specialists in documentation and other support staff who make the job easy for all these professionals.
The most important task is perhaps that of property lawyers and advocates. They have the unenviable task of ensuring that the legal sanctity of the property that is being bought and sold is perfect from all points of view. This might look simple on paper but when it comes to actual implementation on the ground there are a number of issues that have to be sorted out. It would call for examining the property documents in great detail and might also entail visiting the property and having a look at it physically. Apart from this, the role property valuers and appraisers are also very vital. Their role is to ensure that the true and fair value of the property is known to all the stakeholders. This is done by valuing the property using various tools and techniques. Apart from the valuation report, there are also other information that are of particular interest to buyers.
Running a successful conveyancing business today is not the same as it was a few years ago. While increased competition is without any doubt the major reason for many conveyancing brisbane companies falling by the wayside, there are other factors too that are worth considering. The buying habits and information seeking habits of customers have also changed a lot. Customers are not keen on jumping into a buying decision just based a few pieces of information. They are wiling to wait and delve in the matter deeply and then take a decision which they feel is beneficial to them. This is now possible because of the impact of the internet, mobile phones and other modern day technology. The computers also have helped in this change in mindset of customers. Therefore, if you are conveyancer who wishes to higher levels of success it is important for you to keep in mind these changing preferences of customers.
Conveyancers should try and change their business model and the delivery mechanisms keeping these new realities in mind. For example, if you are an ambitious real estate conveyancing entrepreneur you must not put off the task of offering online conveyancing facilities to your customers. This is very vital because of a few obvious reasons. First and foremost time is a big constraint for most of the individual real estate conveyancing customers. Hence, they would not mind if they are given the facility of online conveyancing. Secondly it is also important to keep in mind that modern day customers are looking at conveyancing. They would like to be spared of the need to make repeated visits to the conveyancing company for getting their job done.
While embracing technology and giving the benefits of the same to your customers is very important, it is also important to stick to the age old concept of fair play, honesty, ethics and other such factors. As a conveyancer your main aim should be to ensure that customer happiness and delight is something that cannot be compromised under any circumstances. Keeping this in mind, it makes sense for these companies to find out ways and means to add more value to the customers. A good conveyancer is one who can offer all the conveyancing needs from start to end under one single platform.