Academic literature on the topic 'Perpetual annuity'

From the Problems of a Transformation from Perpetual Usufruct to Property RightSummaryAn analysis of a normative state and a practice of a conduct of legal transactions with reference to legal regulations of perpetual usufruct and also of a transformation of this right into property right permits a statement that in Polish Law there came into being a system of norms completely unintelligible, excessively complicated, internally contradictory, bureaucratic and too costly for the national budget, local governments and perpetual usufructuaries. The primary cause of the status quo was the lack of a clearly defined objective at which the legislator was aiming. Expediency was implemented at the expense of system principles. It led to interventions of the Constitutional Tribunal. The legislator hedged, made successive provisions not only internally contradictory but also arousing new doubts as to their compliance with the Constitution of the Republic of Poland.It seems that the only rational solution of the status quo is to forego the right of perpetual usufruct by enfranchising perpetual usufructuaries. However, it has to be a regulation based on foundations completely different than these hitherto existing.The transformation should cover all perpetual usufructuaries, regardless of the mode and the time of their acquisition of this right, and should ensue ex lege. This would result in a significant simplification of a construction of the transformation. Given a tremendous interest of perpetual usufructuaries in the transformation, it would significantly reduce the amount of office labour and attendant costs incurred by them. At the same time affranchisement would become universal. Further simplification and lowering costs of transformation would require that entries in mortgage registers should be evidenced ex officio at the time of the first transaction relating to a given mortgage register. Since affranchisement in a discussed mode would cover all perpetual usufructuaries ex lege, it would be obvious that persons evidenced in a register as perpetual usufructuaries are property owners until a new entry is made.There should be no exception from the basic principle of universality of affranchisement of perpetual usufructuaries. It has to be assumed that land charged with perpetual usufruct has not been indispensable for the hitherto existing owner (the State Treasury, local government units) in order to perform their basic tasks. In special cases these units may employ an expropriation.The most difficult problem of the hitherto existing regulations faced has been the question of compensation due to hitherto owners from the fact of a loss of ownership as a result of a transformation. I propose to regulate these settlements in such a way that an enfranchised perpetual usufructuary should be charged with such performances as he was charged with hitherto as a perpetual usufructuary. In other words: he would be charged with an obligation to pay annuity during a period for which he has been granted, the right to perpetual usufruct, transformed into property right. In exchange for a performance, which in any case he would have to provide as per agreement, the former perpetual usufructuary would obtain a better right - property right. According to the proposition under discussion, the regulation would have a system character, in a long-term it would allow to effect such a reform of public finances that hitherto existing owners could perform their assigned tasks financing them from performances of a tribute type, and not from perpetual usufruct. One would have to consider the advisability of maintaining in force the principles of determining an amount of an annuity. It seems that instead of the current system (expensive and inefficient) there should be introduced a principle of a yearly raising of annuity according to a rate of inflation.It’s common knowledge that appreciable part of immovables of the State Treasury and municipal immovables originate from different kinds of „expropriations” carried out in the period of PRL [People’s Republic of Poland]. To secure claims of former owners I propose to create a special fund, meant for indemnities satisfying these claims, from obligatory written off amounts gained from receipts from former perpetual usufructuaries.

This article investigates the activities of noblemen on the annuity market of the city of Antwerp at the end of the fifteenth century. In postwar historiography, the consumption of credit by noblemen was often considered as an indication that those noblemen were in dire straits, whereas more recent interpretations suggest that noblemen were important creditors to both princes and towns. The analysis of the activities of twenty-eight noble lineages on the Antwerp credit market reveals that noblemen appear more often as buyers than as sellers of credit, but also that they were considered creditworthy, and that noblemen were careful to avoid using estates that were important for the family’s noble status as collateral. The nobility's annuity traffic cannot be understood from a one-sided perspective, such as that of the overarching grand narrative of the perpetual crisis of the pre-modern nobility, or that of the nobleman-banker.

Abstract This article describes the methods for estimating the value of a forest, the accuracy of which is critical for purchases and sales, credit security, determining the shares in the division of forest real estate, as well as in determining the amount of compensation for losses in forest property. Compensation for property losses also includes past events that occurred before the Second World War, such as nationalization or loss of the forests in the eastern territories of the Second Polish Republic due to border changes. An equally important objective of forest valuation, which has recently gained in importance, is the inclusion of its value in a forest holding balance sheet. However, due to the lack of fully objective market prices for forest property, this work focused on the analysis of the quantitative and qualitative characteristics of the forest market and the methods of calculating the income (rent) value of the forest. Examples of commercial transactions from the forest market in the USA, Austria and Germany are included. The study presents a historical outline of forest valuation with particular emphasis on methods based on the income value, including forest rents. Furthermore, we discuss the formula of the perpetual capitalization of annuity and periodic annuity, including the impact of various net income calculations, that is, in arrears or in advance

<p><em>The competitive race of banking sector in the world economy is rapidly enforcing the importance of brand valuation. The acceptance of brand valuation has been questionable in several times due to the subjective measurement that derives from customers’ volatile perceptions. At the same time, financially focused model provides only an assessment of the economic value of brand. It is still a challenging task to compute the brand valuation depending only on financial data. Interbrand technique (2004) is one of the best approaches of calculating brand value within the community of marketing. Our valuation approach followed the A.C. Nielsen valuation model (2006) for valuing brand which is multiple of </em><em>“</em><em>Annual sales of representative brand</em><em>”</em><em>, </em><em>“</em><em>Net operating margin</em><em>”</em><em>, </em><em>“</em><em>Relative brand strength</em><em>”, </em><em>and </em><em>“</em><em>Perpetual annuity NPV discount factor</em><em>”</em><em>. This paper explores the </em><em>B</em><em>rand </em><em>V</em><em>aluation (BV) and identifies the relative position of banks based on measuring marketing contribution.</em><em> Data have been collected from first generation private commercial bank’s annual reports and analyzed by using perpetual NPV continuous discount factor. </em><em>The objective measure of BV for commercial banks was developed using Net Marketing Contribution (NMC), Relative Brand Strength (RBS) and Perpetual Net Present Value Continuous Discount Factor (PNPVCDF).</em><em> </em><em>The measures of brand valuation will ease the understanding regarding marketing profitability, brand performance and relative position in the competitive field.</em><strong><em></em></strong></p>

The subject of this thesis is to determine the value of the easement of way over the land of another owner. The value of the easement will be established for an indefinite period, the duration of 20 years and for the life of the creditor. It will be calculated current price and official price. The theoretical part is concentrated on clarifying the concept of an easement, the possibility of the constitution, termination and changes, hereinafter referred to problems of valuation of the easement. In the project part is solved the specific passage in terms of benefits warrantee and losses liable party.

This diploma thesis focuses on the highest and best use analysis (HABU) of property. In first chapters there is mention about current legislation, theoretical terms and methods of property valuation in Czech republic. The next chapter describes a methodology for the highest and best use analysis. The analysis itself was applied to real case, specifically to a former storage area of the construction company, which is located in Brno - Maloměřice. For this area were designed scenarios of possible use and four of them were chosen using tests of HABU analysis. In the end, one of them was chosen which is being considered the highest and best use for this property.

The aim of this diploma thesis is determine feasibility and profitability of property development project at particular lands in Brno. Solution of problem includes both, the legislative part that determines possibility lands focused on change of territorial plan and the financial part that estimates costs and revenues in project balance and potencial profits for investor, if project will be realized. Main result of this diploma thesis is to answer the question, if property development project should be realized at particular lands in question and estimate future value of lands and project. Diploma thesis \uv{Analysis of the development project for the construction of an administrative building in Brno} is useful for everyone, who needs estimate potential of a land for profit from realization of property development project.