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Borettslag
''Borettslag'' is the legal entity for housing cooperatives in Norway. The company is owned by those who live in the cooperative, the partholders. Each part gives the right to live in the cooperative, and thus in a particular apartment or house. A partholder is free to sell their part, but the cooperative statute can give internal first refusal. The ''borettslag'' owns the buildings and ground the buildings are on. The highest authority in the cooperative is the Annual general meeting that elects the board of directors, who are responsible for daily operations. Usually a large share of the construction costs of the property is financed through common debt, that is issued to the cooperative, and not to the individuals. This debt, along with the costs to cover running the grounds, is charged to the owners as rent. Some cooperatives are members of a housing association In Ireland and the United Kingdom, housing associations are private, Non-profit organization, non-profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Borettslag
''Borettslag'' is the legal entity for housing cooperatives in Norway. The company is owned by those who live in the cooperative, the partholders. Each part gives the right to live in the cooperative, and thus in a particular apartment or house. A partholder is free to sell their part, but the cooperative statute can give internal first refusal. The ''borettslag'' owns the buildings and ground the buildings are on. The highest authority in the cooperative is the Annual general meeting that elects the board of directors, who are responsible for daily operations. Usually a large share of the construction costs of the property is financed through common debt, that is issued to the cooperative, and not to the individuals. This debt, along with the costs to cover running the grounds, is charged to the owners as rent. Some cooperatives are members of a housing association In Ireland and the United Kingdom, housing associations are private, Non-profit organization, non-profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Cooperative
A housing cooperative, or housing co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings; it is one type of housing tenure. Housing cooperatives are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting. The corporation is membership based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit. A primary advantage of the housing cooperative is the pooling of the members' resources so that their buying power is leveraged; thus lowering the cost per member in all the services and products associated with home ownership. Another key element in some forms of housing cooperatives is that the members, through their elected representatives, screen and select who may live in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Juristic Person
A juridical person is a non-human legal person that is not a single natural person but an organization recognized by law as a fictitious person such as a corporation, government agency, NGO or International (inter-governmental) Organization (such as United Nations). Other terms include artificial person, corporate person, judicial person, juridical entity, juridic person, or juristic person. A juridical person maintains certain duties and rights as enumerated under relevant laws. The rights and responsibilities of a juridical person are distinct from those of the natural persons constituting it. Since ancient times, associations have been known as the original form of the juridical person. This is documented for the 1st century A.D. for Jewish trading companies. In Roman law, too, the institution already had significance, although it was not called as such. Conceptually, it included institutions such as the state, communities, corporations (''universitates'') and their association ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norway
Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and the archipelago of Svalbard also form part of Norway. Bouvet Island, located in the Subantarctic, is a dependency of Norway; it also lays claims to the Antarctic territories of Peter I Island and Queen Maud Land. The capital and largest city in Norway is Oslo. Norway has a total area of and had a population of 5,425,270 in January 2022. The country shares a long eastern border with Sweden at a length of . It is bordered by Finland and Russia to the northeast and the Skagerrak strait to the south, on the other side of which are Denmark and the United Kingdom. Norway has an extensive coastline, facing the North Atlantic Ocean and the Barents Sea. The maritime influence dominates Norway's climate, with mild lowland temperatures on the se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by legislative bodies; they are distinguished from case law or precedent, which is decided by courts, and regulations issued by government agencies. Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette which may include other kinds of legal notices released by the government, or in the form of a series of books whose content is limited to legislative acts. In either form, statutes are traditionally published in chronological order based on date of enactment. A universal problem encountered by lawmakers throughout human history is how to organize published statutes. Such publications h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Refusal
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party or buyer, and the option holder. In general, the owner must make the same offer to the option holder ''before'' making the offer to the buyer. The right of first refusal is similar in concept to a call option. An ROFR can cover almost any sort of asset, including real estate, personal property, a patent license, a screenplay, or an interest in a business. It might also cover business transactions that are not strictly assets, such as the right to enter a joint venture or distribution arrangement. In entertainment, a right of first refusal on a concept or a screenplay would give the holder the right to make that movie first while in real ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction
Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and comes from Latin ''constructio'' (from ''com-'' "together" and ''struere'' "to pile up") and Old French ''construction''. To construct is the verb: the act of building, and the noun is construction: how something is built, the nature of its structure. In its most widely used context, construction covers the processes involved in delivering buildings, infrastructure, industrial facilities and associated activities through to the end of their life. It typically starts with planning, financing, and design, and continues until the asset is built and ready for use; construction also covers repairs and maintenance work, any works to expand, extend and improve the asset, and its eventual demolition, dismantling or decommissioning. The constructio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century. The term "debt" comes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renting
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. An example of renting is equipment rental. Renting can be an example of the sharing economy. History Various types of rent are referenced in Roman law: rent (''canon'') under the long leasehold tenure of Emphyteusis; rent (''reditus'') of a farm; ground-rent (''solarium''); rent of state lands (''vectigal''); and the annual rent (''prensio'') payable for the ''jus superficiarum'' or right to the perpetual enjoyment of anything built on the surface of land. Reasons for renting There are many possible reasons for renting instead of buying, for example: *In many jurisdictions (including India, Spain, Australia, United Kingdom and the United States) rent paid in a trade or business is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Association
In Ireland and the United Kingdom, housing associations are private, Non-profit organization, non-profit making organisations that provide low-cost "Public housing in the United Kingdom, social housing" for people in need of a home. Any budget surplus is used to maintain existing housing and to help finance new homes and it cannot be used for personal benefit of directors or shareholders. Although independent, they are regulated by the state and commonly receive public funding. They are now the United Kingdom's major providers of new housing for renting, rent, while many also run equity sharing, shared ownership schemes to help those who cannot afford to buy a home outright. Housing associations provide a wide range of housing, some managing large estates of housing for families, while the smallest may perhaps manage a single scheme of housing for older people. Much of the supported accommodation in the UK is also provided by housing associations, with specialist projects for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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