Parcel

This is the technical unit in a cadastre consisting of a defined area of land delimited by a line or boundary which begins and returns to the same point or is identifiable and recognized by its ownership and property.

Parcel-based land registration system/Person-based land registration system

In the Parcel-based land registration system, the key component of publishing the registration of an immovable asset; all deeds subject to registration are recorded in a single book, in which the asset is allocated a perpetual number which identifies the property, the folio comprises entries (registration, cancellations and provisional filing) and these are numbered in succession. The Person-based land registration system publishes the key information in a single sheet: the object (estate), subject (registration holder) and right (type of real right). Parcel-based land registration system apply to private properties whose title has been checked against the cadastral information in an RCT process (FFEA).

Possessor

A person who has an asset in his/her possession.

Possession

Possession is the act of owning or having a physical object with the aim of keeping it for him-/herself or someone else. Possession exists when someone has something in his/her power, for him-/herself or for someone else, with the intention of subjecting it to the exercise of a property right

Property Right

This is a real right whereby a person has a legal right, in a given social setting and within a particular legal organization, to appropriate, by means of material or legal acts, all the utility inherent in a movable or immovable asset; the right to benefit from and access objects absolutely, on condition that they are not used in a manner prohibited by laws and rules; this is the right of the owner of an object to benefit from, use and access that object as deemed appropriate or desired by the owner.

Property Tax

This is an annual tax liability payable to municipal authorities, calculated from the value of property, taking into consideration freehold land or the parcel, and constructions or improvements made to it. The obligation to pay a tax arises from the right of the user to own freehold land with ownership interest, not necessarily from the property owned.

Project Development Objective

Terminology used by the World Bank to express the overarching objective that an investment project should have achieved at the end of its life cycle.

Property Planning

A series of actions that involve individuals and regulatory institutions, as regards the exercise of property rights, which aim to establish and record the origin, characteristics and scope of the rights of individuals and the property they own. The desired outcome is that all property and individuals who exercise ownership of such property have their rights to property ownership and absence of disputes with the rights of other owners established and guaranteed by relevant regulations.