Do You Appreciate Your Property Rights? May 29, 2007
When you hold the highest quality and quantity of property rights, the owner is said to hold the property in fee simple or freehold. These rights relate to the "bundle of rights" which include the right to sell, lease, use, enter and to refrain from using. (RealtyTimes)
Quandary on use of surplus leaves taxpayers empty handed May 20, 2007
Certainly lawmakers will take credit for adopting an incentive to encourage landowners to sell their fee simple interest in residential condominiums and cooperatives that are currently held as leasehold property. With a total exclusion of the capital gains from the state income tax, advocates believe this will encourage landowners to sell their interest in the underlying property despite the fact that the federal capital gains tax will still take a substantial bite out of those capital gains. (Lihue Garden Island, HA)
200-year-old law delays NB Home Depot project May 16, 2007
Fee simple land is a real estate term that refers to conveyable property and does not include reservation land. Brady Scott, CEDCO chief executive officer, said the Indian act came to his attention while in negotiations with Home Depot. (Coos Bay-North Bend The World, OR)
Morgans Hotel Group Reports First Quarter 2007 Results May 9, 2007
We disclose Adjusted EBITDA because we believe it provides a meaningful comparison to our EBITDA as it excludes other non-operating (income) expenses that do not relate to the on-going performance of our assets and excludes the operating performance of assets in which we do not have a fee simple ownership interest. It also excludes stock-based compensation expense. (Yahoo! Wire -- Entertainment News)
Public Notice May 1, 2007
Required me to make the sum as provided for in said Decree with interest and cost, I will expose at public sale to the highest bidder, at the hour of 2:00 p.m. of said day as listed above, at, fee simple of the whole body of Real Estate in Blackford County, Indiana ... Required me to make the sum as provided for in said Decree with interest and cost, I will expose at public sale to the highest bidder, at the hour of 10:00 a.m. of said day as listed above, at, fee simple of the whole body of Real... (Hartford City News-Times, IN)
TimberWest appoints new Director Apr 29, 2007
The Company owns in fee simple approximately 334,000 hectares or 825,000 acres of private timberland that, over the previous five years, have provided an annual average harvest of 2. 594 million m3 of logs and have an approximate annual growth rate of 8. (PR Newswire)
Zoning update begins with residential regulations meeting Apr 26, 2007
The committee also recommends easing building requirements by reducing the amount of frontage along an improved city street from 30 to 20 feet and allowing frontage to be secured by easement and not fee simple ownership. Another topic likely to come up is an interim ordinance recently passed by the City Council permitting residential occupancy in the commercial and commercial business district zones, above the first floor, to the maximum height allowed in these zones, provided adequate parking... (Anacortes Weekly, WA)
Retiring in Mexico: No Longer Just a Dream Apr 23, 2007
It will be an age-targeted community," says Ratta. Ratta says there has been an overwhelming response to the upcoming community project. Part of the interest could be because in the 1990s, Mexico's laws were revamped making it easier for foreigners to invest in real estate there. Ratta says you do have full ownership of the residence. "It's akin to fee simple. You do own the property. (RealtyTimes)
Morgan County: Natural area may double if Governor's plan is approved Apr 18, 2007
The state will preserve the land through purchase of fee simple, timber rights and conservation easements. More than 100,000 acres that the state proposes to protect will continue to be atively timbered. (Kingston Roane County News, TN)
CITY OF FULTON SOON TO CASH IN ONLINE Apr 4, 2007
In other business, the Common Council approved a temporary easement and fee simple agreement with the New York state Department of Transportation (DOT) for city-owned property at 355-359 S. Second Street. The DOT will pay Fulton 12,000 for the property, which it wants for its State Route 481 widening project. (Oswego Palladium-Times, NY)
Amended laws let foreigners buy on beach Apr 3, 2007
"You have the same rights that you would have under fee-simple land. You can mortgage it, give it to family members, everything you can do with fee simple. It is a renewable 50-year trust, and it is absolutely safe," said Tom Kelly, a former real estate editor for the Seattle Times and author of "Cashing in on a Second Home in Mexico." Most real estate in the United States is fee simple, meaning the owner is the absolute owner. Putting his money where his advice is, Mr. Kelly recently bought an... (Washington Times, DC)
Western Forest Products Reports 2006 Fourth Quarter Net Income Of $108.3 Million, Including Receipt Of Softwood Duty Refund Mar 29, 2007
The acquisition also includes approximately 6,800 hectares of fee simple lands, existing capital improvements, equipment and railway rolling stock. The fee simple lands within Tree Farm Licence 37 were transferred to the Company subsequent to the year-end and until that time the Company harvested timber on those lands under contract with the former landowner. (PR Newswire)
Gentry Increases Proved Reserves by 13% Mar 12, 2007
Just over 115,000 net acres are fee simple lands located in the Company's Princess core area of Alberta. These fee simple lands have no expiry date. (Canada Newswire)
Navy issues surplus property notice for Concord NWS Mar 7, 2007
According to the notice published in the Federal Register, the property includes 12,882 acres of improved and unimproved fee simple land located within Contra Costa County and the city of Concord. Of that total, 7,791 acres will be transferred to the U.S. Army, and 63 acres will be transferred to the U.S. Coast Guard. (East Bay Business Times, CA)
Digital Realty Trust, Inc. Reports Full Year and Fourth Quarter 2006 Results Feb 28, 2007
On October 1, 2006 the Company acquired the datacenter operations of AboveNet, which consists of three properties: one fee simple interest property in Reston, Virginia and two leaseholds in New York City and Vienna, Virginia. On October 6, 2006 the Company acquired 2055 East Technology Circle in Tempe, Arizona. (PR Newswire)
More of this story Feb 28, 2007
The proposed measure would designate 40 percent of new development as affordable housing for residents, consisting of a split 30 percent for both leasehold sales and fee simple sales and a 10 percent land donation requirement. The Kauai Housing Policy proposed legislation was drafted by housing specialist Ken Rainforth, who used other municipalities, such as Davis, Calif. (Lihue Garden Island, HA)
$35 million buried in beach sand Feb 25, 2007
"If they grant fee simple ownership, all of a sudden people will be sitting on a $1 million piece of property," Campanella said. "A lot of them can't afford to pay that kind of money in property taxes. I know I couldn't afford it.". (Pensacola News Journal)
Affordable housing, not so affordable Feb 25, 2007
Fee simple purchases are reserved for those at 140, 160, and 180 percent of the median. The 180 percent option is an income of 91,700. (Lihue Garden Island, HA)
Lake Development Feb 10, 2007
The MDA and the commission shall establish criteria for identifying such land which shall include, but which shall not be limited to, whether or not such lands are owned by the state, in fee simple, and may be improved for commercial, residential or other development, or, whether such lands are leased from the federal government or an agency thereof, such as the United States Army Corps of Engineers, and are restricted by federal law or federal regulations or by the terms of such lease to... (Grenada Daily Star, MS)
Public Notices for Tuesday, January 30th, 2007 Jan 31, 2007
in print and online, 24/7. NOTICE OF TRUSTEE'S SALE TS No. 06-21507 Doc ID #00003896822005N Title Order No. 06-8-199876 Investor/Insurer No. 1972824675703 APN No. 107-660-21 YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED 05/21/2002. (Santa Maria Times)
Does Pratt gift limit park deal? Jan 18, 2007
If that restrictive covenant is broken, the deed states, "the land hereby conveyed shall pass to and vest in the Mary Washington Hospital Association, Incorporated, Fredericksburg, Virginia, in fee simple forever without reservations or restrictive covenant.". The Park Authority board will meet next Wednesday at 7 p.m. to further discuss the proposal for the county and city to take over maintenance of the parks. (Fredericksburg Free Lance-Star, VA)
Upscale marina planned Jan 10, 2007
Ownership is made through a fee simple, titled real estate purchase. Those who buy into the facilities have lifetime waterway access on a dock. (Vero Beach Press Journal)
Sunstone Hotel Investors, Inc. Acquires The LAX Renaissance Hotel - Los Angeles Jan 5, 2007
Robert A. Alter, Sunstone's Chief Executive Officer, stated, "I am excited to announce our latest acquisition, the Renaissance LAX Hotel. We are acquiring the most recently constructed and highest quality asset in the LAX submarket for a significant discount to replacement cost. This fee simple hotel is our first upper-upscale property in the submarket and continues our strategy of migrating our portfolio towards superior quality real estate. The hotel has recently completed a significant... (PR Newswire)
Waikiki's Kyo-ya Restaurant will close Dec 25, 2006
The restaurant sits on two parcels of land, one fee simple, one leasehold. Kyo-ya is selling the parcel it owns, while the other will remain as a ground lease. (Pacific Business News, HI)
Parkway sells Houston buildings for $11.6M Dec 12, 2006
closed the fee simple sale of two Houston office properties for a total $11. 6 million in cash proceeds. (Memphis Business Journal, TN)
Berkshire Income Realty Announces FFO of $3,666,167 for Nine-Month... Nov 17, 2006
-- On August 30, 2006, the Company, through a newly formed and wholly owned subsidiary, BIR Briarwood Limited Partnership, consummated the acquisition of 100% of the fee simple interest of Briarwood Village Apartments, a 342 unit multifamily apartment community located in Houston, Texas, from an unaffiliated third party. The purchase price of $13,816,700 was paid by the assumption of the existing mortgage debt on the property at the time of closing, cash from the buyer, and cash from the... (CNBC -- Research Alerts)
Digital Realty Trust, Inc. Acquires Interest in Seattle Internet Gateway and Three Datacenters Nov 3, 2006
SAN FRANCISCO, Nov. 2 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: ), a leading owner and manager of corporate datacenters and Internet gateways, today announced the acquisition of a partial interest in the primary Internet gateway for the Pacific Northwest market located in downtown Seattle, Washington and fee simple interests in datacenter facilities located in Miami, Florida, Waltham, Massachusetts and Tempe, Arizona. The total purchase price paid for these four acquisitions... (PR Newswire)
TimberWest Announces 2006 Third Quarter Results Oct 27, 2006
The Company owns in fee simple approximately 334,000 hectares or 825,000 acres of private timberland that, over the previous five years, have provided an annual average harvest of 2. 594 million m(3) of logs and have an approximate annual growth rate of 8. (PR Newswire)
Gwinnettians who want out speak up | Rick Badie / My Opinion Oct 26, 2006
I bought in a place with a strong HOA because I have seem weak, fee simple neighborhoods go right into the toilet. I can t do everything I want without approval, but my property values are protected. (Atlanta Journal-Constitution -- Home & Garden)
Tidelands: Ruling a victory for Miss.taxpayers Oct 14, 2006
It's been long accepted that 16th Section leaseholders pay both their lease fees and fee simple taxes on such public lands. Why should the tidelands be any different. (The Clarion-Ledger)
MacKenzie House fills senior housing niche Oct 13, 2006
At the same time, the quality varies dramatically from public-subsidized senior housing to upscale retirement communities that require substantial entry fees but don't provide for fee simple ownership. MacKenzie House and its branded retirement communities aim to fill the gap by incorporating different housing types within one development, MacKenzie said. (Denver Business Journal, CO)
Top Mexican officials hope economic growth can stem illegal migration Oct 13, 2006
" How convenient that the gentleman that has been at the helm of the ship known as Mexico, doesn't want to accept responsibility when it strikes the iceberg. I'm a simple man that lacks a formal education, but I'll take a stab at it. As a businessman, I learned long ago that reinventing the wheel is a futile effort at best, and at worst nothing less than disasterous. So, follow the model of a similar, succesfull business and emulate it to the best of your ability. What I'm referring to is their... (North County Times)
Broker opposes commission hike Oct 7, 2006
To obtain a senior-citizen reverse mortgage, the homeowner must be 62 or older and hold fee simple absolute title. A life estate does not qualify. (Charlotte.com, NC -- Living)
Brookfield Real Estate Opportunity Fund Closes on Acquisition of 5.3 Million Square Foot Commercial Portfolio in U.S. Oct 4, 2006
- Chicago - 300 South Riverside Plaza, a 1 million square foot office building under which BREOF earlier this year acquired the fee simple interest in the air rights. - Phoenix - Chase Tower, the tallest building in Arizona, totalling 750,000 square feet. (CCNMatthews Press Releases)
Kenedix Announces Establishment of a Commitment Line Oct 4, 2006
The commitment line is also available for acquisition of the fee simple ("shoyuu-ken") on properties in addition to the trust beneficiary right ("shintaku-jueki-ken") only that the previous facilities could be used for. . (JCN Network, Japan)
Ask Realty Times Sep 15, 2006
Why not look for real estate which has the possibility of appreciating and the full rights of fee simple ownership. Follow-Up. (RealtyTimes)
DJM Asset Management Changes Name to DJM Realty Sep 13, 2006
Leveraging over 550 regional brokers, DJM Realty conducts comprehensive evaluations and reserve analysis on fee simple and leasehold interests, negotiates lease modifications or terminations, mitigates landlord claims, provides capital for the orderly disposition of real estate and facilitates the acquisition of new properties. About Gordon Brothers Group Founded in 1903, Gordon Brothers Group () provides global advisory, operating and financial services to companies at times of growth or... (PR Newswire)
Cobra Venture Corporation Announces the Completion of 2 Natural Gas Wells, Tests Multiple Natural Gas Zones at Pembina, Alberta Sep 1, 2006
Cobra's southeast Saskatchewan lands continue to produce revenue for Cobra on a royalty basis and Cobra is currently in negotiations with several active junior oil and natural gas companies in the area to farm out the balance of Cobra's fee simple and leased lands on a multi well drill commitment basis. Cobra is continuing on a strategy of participating large multi well drilling programs as a non-operating participant and negotiating large net working interests. (CCNMatthews Press Releases)
Millions provided to save farms Aug 19, 2006
The fee simple program works when the landowners sell the farm outright to State Agriculture Development Committee, Pinto said. The state will then strip the development rights from the property and retain the rights, before auctioning the farm back to a private citizen. (Madison Eagle, NJ)
Plant hums, but Prairie's mum Aug 5, 2006
2 million, on a fee simple interest basis providing Prairie invests 80 million in assessable real property and employs approximately 390 people at an average hourly salary of 15. 35 per hour when fully operational. (Huntersville Herald, NC)
You can buy, but not hide Jul 16, 2006
500 -- Acreage of land in Alaska owned outright (fee simple) by Alaska Natives in 1968, when Southeast Natives won their land claim case. 4 million -- Approximate acreage of the 23 Native reserves existing in Alaska in 1968. (Anchorage Daily News)
BNSF, city wrap debate Jul 16, 2006
34 million lump sum payment and not give the railroad anything back in return because they contend they can't convey a fee simple interest in the property ... " When both sides finished their closing arguments, Wolle asked some questions. He asked Power if he wanted to reply to Thrall's "contention that it's inconsistent to say the city cannot convey (a fee simple interest), but at the same time argue that it's entitled to payment of the fair market value of what it cannot convey. (The Hawk Eye)
Second-Home Buyers Head South Jul 13, 2006
On the Mexican mainland, a foreigner can buy property fee simple except when it is in the restricted zone: 32 miles from the shoreline or 62K miles from the border. Buyers can purchase real estate in the restricted zone through a Mexican bank trust called a fideicomiso. (RisMedia.com)
Parkway Properties, Inc. Announces Sale of Phoenix Property Jun 28, 2006
June 27 /PRNewswire-FirstCall/ -- Parkway Properties, Inc. (NYSE: ) today announced the closing of the previously announced fee simple sale of the Viad Corporate Center in Phoenix, Arizona for $105. 5 million. (PR Newswire)
Housing Counsel: Land Sales Contract, A Useful Tool Jun 19, 2006
Finally, when the full amount of the purchase price -- namely the $500 was paid, the rancher would then transfer title to the real estate "in fee simple" to the buyer. A deed would be recorded, and the buyer would then be the rightful owner of the property. (RealtyTimes)
Housing program set for Algona and Burt Jun 16, 2006
Applicants must occupy the home as their principal place of residence, and must hold fee simple (deed) title. All applicants must also meet income eligibility guidelines in order to qualify for the program. (Algona Upper Des Moines, IA)
Western Wind Energy Corp. - News Release Jun 15, 2006
Included in the purchase was 191 acres of fee simple land. Western Wind Energy made this acquisition for a total purchase price of US $825,000. (PR Newswire)
Parkway Properties Announces NAREIT Institutional Investor Forum Presentation Jun 6, 2006
Parkway Properties, Inc. 2006 Institutional Investors Forum GEAR UP Plan Supplemental Disclosure Asset Recycling Assumptions Parkway Ownership Total After Value Dispositions Projected Square Assumed Disposi- Retained by Feet Sales Price tion Parkway Chicago: 233 N Michigan and 111 E Wacker 2,075,000 $450,000,000 25% $112,500,000 Viad CC (Represents 144,000 31,500,000 0% - Parkway's 30% share) All other dispositions: Through joint ventures 3,043,000 311,000,000 25% 77,750,000 Through fee simple... (PR Newswire)
Letters for Sunday May 28, 2006 May 29, 2006
OHA lands could be immediately transferred to their rightful owners, the Hawaiian people, with fee simple deeds. The sacred ground at Coco Palms could be returned to its rightful owners to become a cultural center and seat of the new nation. (Lihue Garden Island, HA)
Western Forest Products Announces Q1 2006 Results - Strategic Acquisitions Closed May 13, 2006
The acquisition comprises Tree Farm License 37 which currently has an annual allowable timber cut of approximately 945,000 cubic meters and includes approximately 6,800 hectares of fee simple lands, existing capital improvements, equipment and railway rolling stock. Transfer of the fee simple lands within Tree farm License 37 is postponed pending receipt of a required consent of the British Columbia Minister of Forests and Range and until that time the Company may harvest timber on such lands... (PR Newswire)
New Salvation Army center will 'change lives' May 3, 2006
Now they're going to have the best in the entire state," Lingle said. The Salvation Army in Hawaii received an $80 million grant yesterday to build a 100,000-square-foot Ray and Joan Kroc Community Center on a 10-acre site in Kapolei to provide a gathering place for youth and families. When Joan Kroc, widow of McDonald's founder Ray Kroc, died in 2003, she bequeathed $1.6 billion to the Salvation Army to build community centers throughout the country. Honolulu was one of 19 cities within 13... (Honolulu Star-Bulletin)
Western Forest Products Announces Q4 2005 Results Mar 29, 2006
The acquisition comprises Tree Farm License 37 which currently has an annual allowable timber cut of approximately 945,000 cubic meters and includes approximately 6,800 hectares of fee simple lands, existing capital improvements, equipment and railway rolling stock. Transfer of the fee simple lands within Tree farm License 37 is postponed pending receipt of a required consent of the Minister of Forests and Range and until that time the Company may harvest timber on such lands under contract with... (PR Newswire)
Strategic Hotels & Resorts Announces Acquisition of La Solana Hotel and Villas in Mexico Mar 10, 2006
The purchase includes fee simple interest in 20. 5 acres under planning for approximately 70 hillside hotel suites, spa, restaurant, pool and retail with direct Pacific Ocean views. (PR Newswire)
Innovative Vacation Home Alternative Arrives in Phoenix Jan 13, 2006
Today's residential real estate market with relatively low interest rates and a deeded fee simple ownership compares favorably with savings accounts or a volatile stock market. Because the concept differs from traditional vacation home ownerships, InnSuites is offering a complimentary seminar January 17, 2006 at 11a. (PR Newswire)
