Yes, the law allows for the pledging of income generated from real property constructed on Granted Commercial or Industrial Land. This pledge is made in favour of licensed banks or financial institutions and is exclusive of the land itself. In these…
Yes, the law allows for the pledging of income generated from real property constructed on Granted Commercial or Industrial Land. This pledge is made in favour of licensed banks or financial institutions and is exclusive of the land itself. In these cases, the pledgee manages the property and collects its income until the loan is repaid. The DLD records this pledge on the property�s registry folio to ensure the legal priority of the financing bank is recognised.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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