Types of Land in Israel

Before you set out to invest in real estate in Israel, it is important to understand the types of land in Israel and the laws pertaining to them. For, although real estate investment in Israel is profitable and promising, all kinds of land are not subject to ownership by all. Certain restrictions are levied on the ownership of certain land.

Types of Land in Israel 

Here are the details of the different kinds of land in Israel.

Most of the land (approximately 80 – 90 percent) is owned by the Government. A meager eight to 15 percent is privately owned and a negligible portion is not categorized under any of the two.

The land owned by the Government is jointly owned by the State, the Jewish National Fund and the Land Development Authority. The State owns 69 percent of the land, the Land Development Authority and the Jewish National Fund own twelve percent of the land each.

Land owned by the Government cannot be sold to either a foreigner or Israeli citizen. It can only be leased for a long term. However, the laws pertaining to each one of these vary.

Here are the differences. 

Land owned by the Jewish National Fund is specifically meant for the welfare of the Jewish community. This land can therefore, be leased only to members of the Jewish community, whether foreigners or Israeli citizens. Conversely, land owned by the Development Authority and State can be leased to anyone from the Jewish community or others.

The ownership of privately owned land can be transferred by the owner to any other person, foreigner or Israeli citizen, on abiding by the respective laws and closing process of buying property in Israel. As privately owned properties are mostly in the urban areas, they are highly in demand and are expensive.

Whatever the type of property, lease and purchase process is tricky. It is therefore, advisable to hire lawyers well versed in Israeli real estate law to assist you through the process.

One such is Aharoni law firm

4 Conditions When you Should Hire a Real Estate Attorney

Before you buy a property, you need to consider a lot of things. And some crucial things among them are the location of the property, the value of the property and many more. A real estate agent can help you in this.

However, when legal issues arise, your real estate agent can hardly answer. In that case, you need the assistance of the attorney. Although good agents know a lot about the negotiating as well as contracting part of the process, they cannot make judgments on the legal matters.

Here are the four situations when you need to consult with a lawyer for buying a real estate in Israel:

• When it is mandatory: Several states mandate the involvement of a licensed attorney in the transaction of the real estate property. If you are planning to buy a property in one of these states, you need to hire an attorney.
• When it is complex: If a complex situation is involved in any of the buying procedure, it would not be easy for you to handle it. Shoulder the responsibility to them.
• When it is high value: Working with an attorney in a high-value residential transaction can be very important. An attorney with the home inspector ensures that the property meets the expectations of the buyer.
• When it is high stress: By involving a legal professional, buyers and sellers can participate in the transaction with confidence and a full understanding of what is happening.

The Aharoni Law Offices is a reputable law firm that offers quality services to their clients. Would you like to get any of their services? DO you any questions that you want to resolve? Feel free to contact the professionals at 050.7322688.