Bill: Draft Property Registery Act

[Incarnation__]

CONGRESS OF THE
COMMONWEALTH OF REDMONT
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A BILL TO

Create a Property Registry to Document Plot Ownership




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The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:


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PART I — PRELIMINARIES

1. Short Title and Enactment

(1) This Act may be cited as the ‘Property Registery Act’

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by NullaPoene.

(4) This Act has been sponsored by Rep Incarnation__.

(5) This Act has been co-sponsored by Rep Stanley582.

(6) This Act amends the following acts:

(a) Property Standards Act

2. Reasons and Intent

(1) There is currently no way to determine if a legal entity possesses ownership of a plot.

(2) Creating a property register will both increase transparency and reduce risk when transferring property.

PART II — AMENDMENTS

3. Amendments to the Property Standards Act

(1) The Property Standards Act shall be amended as follows

20. Transfer of Ownership
(1) The titleholder of a plot may differ from the owner who is registered in the Federal Land Register.
(2) For such a differing ownership to be enforceable, it must be registered in the Federal Land Register.
(3) The DCT shall change the titleholder of a plot upon request by the owner.

21. Federal Land Register
(1) The Federal Land Register (FLR) is hereby established.

(2) The FLR shall be managed by the DOC.

(3) The following property rights shall have a registration requirement:
(a) Ownership of a plot where the holder of the ownership right and the titleholder in the plot plugin are not the same (such registration shall mention the reason).

(4) Registration of property rights with a registration requirement shall at least include:
(a) The holder(s) of the property right;
(b) The plot number;
(c) The duration, if applicable.

(5) The registration must be public and kept updated without undue delay.

(6) Upon the end of the property right, a notice that the property right has ended must be posted on the registration without undue delay.

PART III - TRANSITION

4. Transition Period

(1) The provisions amended as Property Standards Act Section 20 (2) shall come into effect 90 days after this bill comes into law.