Cape Verde

Finding a reputable law firm in Cape Verde can be a minefield – why not let The International Property Law Centre LLP take the stress out of the legal aspects of your Cape Verdien property purchase.

The International Property Law Centre LLP provides specialist Portuguese-speaking lawyers, who are based in the UK and who can help you with your property purchase in Cape Verde, via a step by step guide. Our independent team of solicitors offer a straightforward alternative to the complexity of sourcing legal services overseas, saving you valuable time and money.

Why not make the procedure of buying your property in Cape Verde as stress free as possible by instructing The International Property Law Centre LLP to handle your conveyancing. The practice offers not only a comprehensive Cape Verdien conveyancing service, but also assistance in a wide range of legal matters, in your chosen jurisdiction.

Cape Verde, lying in the Atlantic Ocean off the bulge of Africa, is an archipelago in the Atlantic 385 m (500 km) west of Senegal. Just six hours flying time from the major airports of Europe, Cape Verde islands are fast becoming an inspiring holiday destination and potential home for those seeking something different. Cape Verde is comprised of nine inhabited islands, each bristling with their own individual character, and one uninhabited one. The islands are divided into two groups: 

The northern Barlavento group of Cape Verde includes Santo Antão, São Vicente, Santa Luzia, São Nicolau, Sal, and Boa Vista. 

The southern Sotavento group embraces São Tiago, Brava, Fogo, and Maio 

The islands are mostly hilly and mountainous, with the land deeply scarred by erosion. The mountains in all these islands are volcanic in origin, in particular, Mount Fogo on Fogo Island which is an active volcano! There are no significant rivers. There are beautiful beaches on these islands and the island of Sal, in particular, with its long white sandy beaches has now become a haven for beach lovers and water sports enthusiasts. The islands are encircled by rugged cliffs and reefs and abundant maritime fauna. 

The population of Cape Verde islands is approximately 463,000. There are many large cities such as Praia, Mindelo, Santa Maria, with Prai also being the Capital. The currency used is called ‘Escudo Cape Verdiano’. Their official language is Portuguese and the local language Crioulo, a blend of Portuguese and West African words, is also widely spoken here. French, English and Spanish are spoken in all the principal towns. The most predominant religion is Catholicism, which is greatly influenced by local beliefs and traditions. There are many industries in Cape Verde such as food and beverages, fish processing, shoes and garments, salt mining, ship repair and their main exports are fuel, shoes, garments, fish, hides. The distinctive music of the islands which has spread overseas due to renowned artist, Cesara Evora, “the barefoot diva”, adds to Cape Verde’s lure. Santa Maria, the main tourist town, which is very near the international airport, is earning its place on the map as being the world’s latest surfing Mecca, drawing windsurfers and kite surfers by the dozen. Cape Verde has exemplary sanitary standards, with no contagious or endemic diseases. 

Climate 

Cape Verde has a much more moderate climate than that of its neighbours due to the fact that its tropical climate is tempered by the Northeast winds and the rain. The average temperature here is approximately 26°C.The rainy season is from August-October, and the rainfall is erratic and its extent varies from island to island.

WHAT IS FRAUD

EFFECTS OF FRAUD ON THE VALIDITY OF CONTRACT OR REMEDIES

The injured can rescind the contract, but it must be done within a reasonable lime.

4. ACT UPON CONTRACT

The second option is that the defrauded party may act upon the contract and may ask the other party to fiilfil [he Terms and conditions of the contract

3. SUIT FOR DAMAGES

The third opiion is that defrauded party can file a suit for damages

(4) MISREPRESENTATION

Misrepresentation means umis-staiemeni of fads In   other  wordaT it  means  to  conceal   the   facts deliberately about something in such a way that olher party ma> be induced and become ready to do the cpntract

CASES OOllSREPFEESEfrTATlON

(1)         Unwarranted statements

(2)       Breach of duty

(3)          Mistake about subject

A says to B that his cow gives 15 liters rnilk per day and induces to purchase his cow It turns out fhat cow only gives 5 liters milk So A is guilty of misrepresentation.

ESSENTIALS OF MISREPRESENTATION

(1)       The representation must be made without any desire. to deceive the other party   It may be express or implied.    

(2)      Misrepresentation must relate to the facts essentials

to the contract

(3)      The misrepresentation must have become untrue

(4)      The misrepresentation must have become the cause in inducing the other party enter into a contract.

EFFECTS OF MISREPRESENTATION ON THE VALIDITY OF CONTRACT

.L-  VOIDABLE

Incase of misrepresentation the contract is voidable at the option of the party whose consent is caused.

1,       ACCEPTABLE

The contract may be accepted by the aggrieved

party

(5)    MISTAKE

Any kind of fault regarding the facts of a thing for which contract is mads or provisions of law is known as mistake.

Seclion 20 ofthe Contract Act defines

“Where both the parties to an agreement are under mistake as to the mailer of fart essential to the agreement the agreement is void ”

KINDS OF MISTAKE

Mistake of Foreign law

Mistake of Private Rights

1.       MISTAKE OF FACTS

When any one or both the parties to the contract are under mistake as to matter of Fact, essential to an agreement, it is known as mistake of fact and is of kinds

When both the parties to an agreement are under a mistake as [o a mailer of fact, essential to an agreemenl, it 15 bilateral

(ii)       UNILATERAL MISTAKE

When only one parly utkfar is under a mistake as to
Ihe matter of fact, it is unilateral mistake.

2.       MISTAKE OF LAW

 MISTAKE OF PAKISTANI LAW

Any mistake regarding the provisions of any law enforceable in Pakistan is a mistake of Pakistani law. According to section 21, a contract caused by such mistake is valid because it is supposed that every one knows law of his country.

MISTAKE OF FOREIGN

Any mistake as to law not enforceable in Pakistan is mistake of foreign law and has the same effect as the mistake of fact According to section 21, when bom the parties to the contract are under mistakes as t.o foreign law, the contract is void.

MISTAKE OF PRIVATE

A mistake of private rights is treated as mistake of facr and is excusable If a contract is made in ignorance of private rights, it would be void.

Q. DISTINGUISH BETWEEN CO-ERCION AND UNDUE INFLUENCE?

DIFFERENCE BETWEEN COERCION AND UNDUE INFLUENCE

L ft   BY MEANING

(a) In case of coercion, one party obtains the consent of the other party by threatening him or putting physical pressure on him. .

(b) In case of undue influence, one party has dominating position over the other party.

(a)       Coercion is forbidden by Pakistan Penal code.

fb)       About undue influence Pakistan penal code *s silent (3

(aj       In case of coercion, consent is obtained by physical

pressure.

(b) In case of undue influence, consent is obtained by moral pressure

(4} PRESSL’SING PARTY

(a)       Any party who may not be of the contracting party may apply coercion

(b)       Undue influence is used only by the contracting party.

Recognizing The Limits of Stock House Plan Modifications

Potential homeowners who are actively searching for a viable home design, usually find a good solution in a stock house plan. This is not to say that the plan is perfect; rather, it will likely meet the needs by which the homeowner can live with. If changes are needed, making modest modifications to the blueprints can solve some of these issues. If the changes are simple like changing a door location or window size, your builder can easily mark these changes directly on the plans without any problem during the construction process. Even moving a non load-bearing wall a foot or two isn’t such a big issue. It is the more complex design changes that will require the help of your building designer.

Modifications are wonderful, but not always the best choice for homeowners who want to change the scope of a home’s design. There comes a point where some changes can become counter-productive. As mentioned above with the door and window modification, these are easy cosmetic changes. Requiring structural changes is where you begin to consider the limits of what can be done to the home plan design. There are two factors that always determine whether or not a design can or should be altered, the level of modifications, and the cost of modifications.

The Level of ModificationsNot all ideas are worthy of consideration when it comes to redesigning a stock plan. Although computers make it much easier to do plan modifications, making changes to a completed work is still a delicate task. If you have ever seen a set of plans, you know that it is packed full of information on every sheet including the floor plans, elevations and building detail drawings. This is also why you will notice a warning or disclaimer about making alterations to the design. A sample statement may say, “Any design changes should be performed by a qualified building designer, architect, or engineer, as even minor changes in one area of the design can lead to major problems in another part of the design”. This more or less advises you that forward and critical thinking is needed to avoid the pitfalls of making in-depth structural changes to the design.

Keeping the level of modification low is best, but knowing the extent by which a design can be modified determines if it is even a good idea to do so. A wish list to shift or move exterior & load-bearing walls, redesign the roof, move a room to a different location, and change a few other essential design components is a pretty extreme on level. First, making these changes together will completely redo the original design in many cases. Second, the effort put into it will require many hours of work in order to peel back the layers of the design to make sure all connecting parts and details are updated accordingly. In comparing this to a custom design, you are subject to spend just as much time in redesigning and updating the stock plan. So if you spend an absorbent amount of time in extensive modifications, guess what else you are going to spend a lot of, money.

The Cost of ModificationsIf the cost to modify a stock plan begin to rival the cost of a custom design, then you have two choices, either go custom or continue searching for a stock plan that require little to no change. On average, typical plan modification charges can range from several hundred to a couple of thousand dollars. This is in addition to the cost of the original plan itself and the work can usual be completed in as little as a day, or in the span of a few days. This also take into account that the modifications are moderate, lacking any serious design alterations involving major structural changes. By all accounts, these dollar figures and time frame are reasonable when we talk about modifying a stock home plan to meet your needs. On the other hand, if you feel that you have to make more design changes, then you may want to consider searching for another plan. You can be sure that your wallet will make you do so even if your heart ignore these limitations.

Real Estate Cleaning

Have you ever heard of the property course before? Even when you’re not really acquainted with real estate industry, there’s a strong possibility that you’ve. While you might have come across a genuine hotels in london course before, are you aware precisely what the first is?

If this involves property courses, you will notice that they are available in many different formats. For example, you will find property courses that can help people, exactly like you, earn a living as a realtor, courses which help home owners sell their hotels in prague, courses that offer prospective home purchasers significant information, in addition to courses which are made to introduce property trading. If you’re searching to create cash with the purchasing, selling, or leasing of investment qualities, you will need to concentrate on courses that offer home purchasers significant information, in addition to individuals which cover the the inner workings of property trading.

One of the numerous reasons your reason for advised to consider a genuine estate course that’s made to help prospective hotels in rome purchasers is to ensure that you will be aware what to look for inside a property. If this sounds like the first time purchasing property qualities as well as just your next time, you might not exactly be aware of the inner workings of purchasing property. You will find some useful tips, like employing a realtor or getting each prospective home undergo a structural inspection before purchasing, that you might ‘t be conscious of. Going for a property course that concentrates on these important tips can make it simpler that you should buy property qualities later on, regardless if you are purchasing them for your own personel personal use in order to make an income from leasing or selling.

Additionally to some property course that provides prospective home purchasers tips, you’re also advised to examine property courses which cover property opportunities. Should you want to earn money like a property investor, that can be done, but you have to first know your work. If this sounds like the first time giving property opportunities a go, you will need to make certain that you realize exactly your work, as you’ll have an improved chance for achievement. That’s why it’s advised that prospective property traders first have a property course, particularly one which trains participants on property opportunities, in addition to offers tips.

If you’d like to explore property trading or simply purchasing a house generally, you are encouraged to have a property course before proceeding any more. To become effective within the real estate investment industry, you have to be educated on just how real estate opportunities work. For any large choice of online property courses, you are encouraged to execute a standard search on the internet, ideally using the phrase “property courses.” Should you prefer to consider a nearby property course, you are encouraged to contact one of one’s local realtors to acquire more information, in addition to keep close track of all local classified advertisements.

Dubai Realty Market Likely To Stabilize By 2010

With vast supply of properties expected to hit UAE property market during the coming years the realty sector in UAE will witness a demandsupply balance during 20102011 reveal recent reports.

 Currently the UAE real estate market is enjoying a boom and has been rated as the most active among all property markets in the GCC region.

The UAE property sector has grown considerably over the past five years due to several factors at the micro and macro economic levels like the population growth for instance which has touched 7 percent per annum.

From today till 2010 UAE do not expect any slowdown in property prices due to the gap maintained between demand and supply. 2010 and 2012 are the opening date of many projects and hence there are no possibilities of price reduction. It is believed that prices of real estate products will continue to increase during the coming years due to higher demand from expatriates and due to increased cost of labor and construction materials.

As per the property report released by Great Properties a Dubaibased real estate sales and marketing agency the UAE realty boom is likely to face a major roadblock which may seriously hinder the completion of projects across the emirates. The report states that the real estate market is more of investors’ market rather than buyers’ market due to which the realty prices have surged tremendously. The developers are facing high construction costs and delayed completion of projects.

The report reveals that the main reason behind such a scenario is the readymix concrete suppliers struggling with a huge backlog of orders due to immense shortage in cement supplies. Even the prices of cement and steel have gone up by 50 and 70 percent respectively last year.

This being an international trend will have its impact on real estate prices along with inflation and high demand. Another major concern for the contractors is the labour as rents of camps have increased during the past two years with the resulting costs too rising up to thrice the value of last year.

Further the report states that delay in delivery of new properties have led to further rent appreciation with the prices increasing by 40 to 50 percent during the past few years.. Most projects are still under construction and the next wave of supply will hit the market towards the year 2010 and this will bring about equilibrium in property prices.

The Report was undertaken by Management Advisory Services a key knowledge resource in the Middle East region together with Great Properties an expert marketing sales and post sales services agency for offering interested parties with decision making tools future forecasts and analysis of UAE realty market and guiding them with property investment opportunities indicating the factors that boost the sector.

Great Properties is currently working on several projects across the UAE. This report is their latest offering which aims to create a brief understanding of the UAE realty market so as to enable investors brokers and developers to remain better informed about market trends and current product prices.

Foreclosure It Can Wipe Out The Equity In A Home

 

“Foreclosure can be defined as a process of recovering the amount of default from a defaulter on a loan either by selling or taking ownership of the property pledged as the security for the loan amount”.

Because of the recession period the economy is going through now unemployment huge debts and lack of accessibility to credits are making it very difficult for many families to pay their mortgage payments and they have no other go than to hand over the keys of their homes to lenders and walk out.

There are different kinds of foreclosures.

Home foreclosure: When a person borrows money from a money lender he is liable to pay the interest and the principal amount. When he defaults the payment the lender then takes possession of the house and this process is known as home closure. The lender then files a notice in the court called Notice of Default when the borrower defaults for more than 30 to 60 days to reclaim the property to recover the amount owed.

If a person owns a property he is liable to pay property tax. If the owner does not pay tax the Government places a lien on the property whereby the owner has to pay tax amount the interest and the penalty charge for defaulting payment. This process is known as tax lien foreclosure.

When a person takes loan for business by mortgaging commercial property and the business defaults the payment the property is sold for recovery of dues.

There are four steps of foreclosure:

The procedure of foreclosure varies from state to state but the process is almost the same.

When the owner defaults payments a Notice of Default is send to him. This is officially recorded by the bank. Usually it is not send when there is a default of one payment but several payments.

The owner can reinstate the loan. Just because the foreclosure process has started he does not loose the house now itself. He can stay in it and he can arrange for the money and repay the missed payments along with the late fees five days before auction of the house.

The date for foreclosure is set by the bank and it is usually around three months. Till then the owners can live in that house.

Though the owner can stay till the house is sold once the house is auctioned then the new owner will evict the present owner sometimes within 24 hours.

Foreclosed property is on the increase in America. Real estate has stumbled down and many Americans are not able to sell their houses and tend to loose their homes.