System of Rights Conversion [Standing Rights Unset Type]

In general public works, such as road maintenance and park maintenance, money is paid to the right holders of land and buildings in the planned site as a substitute for the acquisition. In the urban redevelopment project, the right to the site and floor of the building (redevelopment building) completed after the project is given according to the "type of right" and "the amount of assets" of the right holder in the district. This is called "right conversion."
The Urban Redevelopment Law stipulates several types of this "right conversion", but here describes the right conversion stipulated in Article 111 of the Urban Redevelopment Law (sometimes referred to as a ground right non-setting type). I will explain.

Land ownership, building ownership, and leasehold rights are replaced by the floor of the redevelopment building according to the amount of the asset, but since these evaluations need to be performed properly and fairly, the evaluation method is the Urban Redevelopment Law. Stipulated by

All assets, such as land before and after the project, such as the land before the project or the floor of the redevelopment building, are 31 days from the date of the public notice of the approval of the business plan (if the enforcer is a local government, the public notice of the business plan decision) Day is the reference date for evaluation. (If the rights conversion procedure does not begin for more than 6 months, it will be 6 months + 31 days.)

Determined in consideration of the transaction price of similar land in the vicinity and buildings of the same kind in the vicinity.

It is determined between the cost (cost) required for the business and the amount (market value) that takes into account the transaction price of similar land in the vicinity and similar buildings in the vicinity. However, if the cost exceeds the fair value, the fair value will be used.

By making an offer within the specified period, you can move out of the district without acquiring the floor of the redevelopment building. In this case, compensation will be paid according to the amount of assets before the project.