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- Rights conversion mechanism [Notification of ground rights]
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Rights conversion mechanism [Notification of ground rights]
Last Updated March 30, 2021
In general public works projects, such as road maintenance and park maintenance, money is paid to the right holders of the land and buildings in the planned site as the price of the acquisition. In urban redevelopment projects, rights are given to the site and floor of a building (redevelopment building) completed after the project are given according to the "type of rights" and "asset amount" of the right holder in the district. This is called "right conversion."
The Urban Redevelopment Law stipulates several types for this "right conversion", but here, the rights conversion specified in Article 111 of the Urban Redevelopment Law (may be referred to as ground rights non-setting type) Explain.
"Type of rights" to be converted and rights granted after business
| Pre-business rights | Post-business rights |
|---|---|
| Ownership of land | Part of the floor of the redevelopment building and part of the site |
| Ownership of the building | |
| Leasehold rights | |
| Leasehold rights | Leasehold rights relating to a portion of the floor of the redevelopment building |
| Collateral (such as mortgages) | A portion of the floor and site of a redevelopment building where the assets (land and buildings) are converted to rights before business assets (land and buildings) to which collateral rights have been set. |
“Assets”
Land ownership, building ownership, and leasehold rights are replaced with floors of redevelopment buildings according to the amount of assets, but since these valuations need to be performed properly and fairly. Stipulated by the Law.
Base date for evaluation
All assets before and after the project, such as land before and after the project, all assets, are 31 from the date of the public notice of approval of the business plan (if the enforcer is a local government, the public notice of the business plan decision) The day will be the reference date for evaluation. (If the right conversion procedure does not start for more than 6 months, it will be 6 months + 31st day.)
Method of evaluation
Land, buildings, etc.
It is determined in consideration of the transaction price of similar land in the vicinity, the transaction price of nearby similar buildings, etc.
Floor of a redevelopment building
It is determined between the cost (cost) required for the business and the amount (market value) taking into account the transaction price of similar land in the vicinity and the transaction price of nearby similar buildings. However, if the cost exceeds the fair value, the fair value will be used.
When you do not wish to move into a redevelopment building
By submitting an offer within the specified period, you can move out of the area without acquiring the floor of the redevelopment building. In this case, compensation will be paid in accordance with the amount of assets before the business.
For inquiries to this page
Urban Development Bureau Urban Area Maintenance Coordination Section
Phone: 045-671-2695
Phone: 045-671-2695
Fax: 045-664-7694
Email address: tb-seibichosei@city.yokohama.jp
Page ID: 710-427-739
