Proprietary estoppel: a functional analysis

This article argues in favour of a functional analysis of proprietary estoppel which focuses on the role of the doctrine in enabling claims to the informal acquisition of property rights in land. The article shows that adopting such an analysis both assists our understanding of two recent decisions of the English House of Lords and helps to resolve issues of taxonomy that arise in relation to the doctrine. A functional analysis both unites the sub-categories of proprietary estoppel into a single principle and distinguishes this principle from other types of estoppel claim. It is suggested, however, that the unification of common law and equitable estoppel remains both possible and desirable as long as ‘unification’ is understood broadly and is not confined to the recognition of a doctrine that is identical in its scope and operation in all cases. It is further shown that despite a lack of discussion of the concept in the House of Lords, unconscionability continues to play a key role in proprietary estoppel and therefore in the informal acquisition of property rights. Unconscionability may now benefit from a closer connection with the other elements of claims which should prevent abuse of the concept and allay concerns of ‘palm-tree justice’.

Forecasting real estate returns using financial spreads

This paper examines the predictability of real estate asset returns using a number of time series techniques. A vector autoregressive model, which incorporates financial spreads, is able to improve upon the out of sample forecasting performance of univariate time series models at a short forecasting horizon. However, as the forecasting horizon increases, the explanatory power of such models is reduced, so that returns on real estate assets are best forecast using the long term mean of the series. In the case of indirect property returns, such short-term forecasts can be turned into a trading rule that can generate excess returns over a buy-and-hold strategy gross of transactions costs, although none of the trading rules developed could cover the associated transactions costs. It is therefore concluded that such forecastability is entirely consistent with stock market efficiency.

Threshold autoregressive and Markov switching models: an application to commercial real estate

Although financial theory rests heavily upon the assumption that asset returns are normally distributed, value indices of commercial real estate display significant departures from normality. In this paper, we apply and compare the properties of two recently proposed regime switching models for value indices of commercial real estate in the US and the UK, both of which relax the assumption that observations are drawn from a single distribution with constant mean and variance. Statistical tests of the models' specification indicate that the Markov switching model is better able to capture the non-stationary features of the data than the threshold autoregressive model, although both represent superior descriptions of the data than the models that allow for only one state. Our results have several implications for theoretical models and empirical research in finance.

What does “retrofit” mean, and how can we scale up action in the UK sector?

Purpose – Progress in retrofitting the UK's commercial properties continues to be slow and fragmented. New research from the UK and USA suggests that radical changes are needed to drive large-scale retrofitting, and that new and innovative models of financing can create new opportunities. The purpose of this paper is to offer insights into the terminology of retrofit and the changes in UK policy and practice that are needed to scale up activity in the sector. Design/methodology/approach – The paper reviews and synthesises key published research into commercial property retrofitting in the UK and USA and also draws on policy and practice from the EU and Australia. Findings – The paper provides a definition of “retrofit”, and compares and contrasts this with “refurbishment” and “renovation” in an international context. The paper summarises key findings from recent research and suggests that there are a number of policy and practice measures which need to be implemented in the UK for commercial retrofitting to succeed at scale. These include improved funding vehicles for retrofit; better transparency in actual energy performance; and consistency in measurement, verification and assessment standards. Practical implications – Policy and practice in the UK needs to change if large-scale commercial property retrofit is to be rolled out successfully. This requires mandatory legislation underpinned by incentives and penalties for non-compliance. Originality/value – This paper synthesises recent research to provide a set of policy and practice recommendations which draw on international experience, and can assist on implementation in the UK.

Drug permeability in 16HBE14o- airway cell layers correlates with absorption from the isolated perfused rat lung

The permeability of the lung is critical in determining the disposition of inhaled drugs and the respiratory epithelium provides the main physical barrier to drug absorption. The 16HBE14o- human bronchial epithelial cell line has been developed recently as a model of the airway epithelium. In this study, the transport of 10 low molecular weight compounds was measured in the 16HBE14o- cell layers, with apical to basolateral (absorptive) apparent permeability coefficients (P(app)) ranging from 0.4 x 10(-6)cms(-1) for Tyr-D-Arg-Phe-Phe-NH(2) to 25.2x10(-6)cms(-1) for metoprolol. Permeability in 16HBE14o- cells was found to correlate with previously reported P(app) in Caco-2 cells and absorption rates in the isolated perfused rat lung (k(a,lung)) and the rat lung in vivo (k(a,in vivo)). Log linear relationships were established between P(app) in 16HBE14o- cells and P(app) in Caco-2 cells (r(2)=0.82), k(a,lung) (r(2)=0.78) and k(a,in vivo) (r(2)=0.68). The findings suggest that permeability in 16HBE14o- cells may be useful to predict the permeability of compounds in the lung, although no advantage of using the organ-specific cell line 16HBE14o- compared to Caco-2 cells was found in this study.

A semantic solution to the problem with aesthetic testimony

There is something peculiar about aesthetic testimony. It seems more difficult to gain knowledge of aesthetic properties based solely upon testimony than it is in the case of other types of property. In this paper, I argue that we can provide an adequate explanation at the level of the semantics of aesthetic language, without defending any substantive thesis in epistemology or about aesthetic value/judgement. If aesthetic predicates are given a non-invariantist semantics, we can explain the supposed peculiar difficulty with aesthetic testimony.

Spatial regulation and international differences in housebuilding industries

Housebuilding firms vary across the world in size and in the scope of their activities. This variety may seem surprising in an industry with open technologies and ease of entry. While market and technological factors may go some way to explain such differences, much of the causes of variation lie in dissimilarities in regulatory and institutional frameworks. These themes are explored through a comparative analysis of the structure of the residential development industry in Australia, the UK and the USA and in analysis of firm size hierarchies. The firm concentration ratio is much higher in the UK than the other two countries and the reasons may lie in the geography of the country but also in the peculiarities of its planning system.

An incremental space to visualize dynamic data sets

In Information Visualization, adding and removing data elements can strongly impact the underlying visual space. We have developed an inherently incremental technique (incBoard) that maintains a coherent disposition of elements from a dynamic multidimensional data set on a 2D grid as the set changes. Here, we introduce a novel layout that uses pairwise similarity from grid neighbors, as defined in incBoard, to reposition elements on the visual space, free from constraints imposed by the grid. The board continues to be updated and can be displayed alongside the new space. As similar items are placed together, while dissimilar neighbors are moved apart, it supports users in the identification of clusters and subsets of related elements. Densely populated areas identified in the incSpace can be efficiently explored with the corresponding incBoard visualization, which is not susceptible to occlusion. The solution remains inherently incremental and maintains a coherent disposition of elements, even for fully renewed sets. The algorithm considers relative positions for the initial placement of elements, and raw dissimilarity to fine tune the visualization. It has low computational cost, with complexity depending only on the size of the currently viewed subset, V. Thus, a data set of size N can be sequentially displayed in O(N) time, reaching O(N (2)) only if the complete set is simultaneously displayed.

Columnar joints in the Patino Formation sandstones, Eastern Paraguay: a dynamic interaction between dyke intrusion, quartz dissolution and cooling-induced fractures

The Patino Formation sandstones, which crop out in Aregua neighborhood in Eastern Paraguay and show columnar joints near the contact zone with a nephelinite dyke, have as their main characteristics the high proportion of syntaxial quartz overgrowth and a porosity originated from different processes, initially by dissolution and later by partial filling and fracturing. Features like the presence of floating grains in the syntaxial cement, the transitional interpenetrative contact between the silica-rich cement and grains as well as the intense fracture porosity are strong indications that the cement has been formed by dissolution and reprecipitation of quartz from the framework under the effect of thermal expansion followed by rapid contraction. The increase of the silica-rich cement towards the dyke in association with the orthogonal disposition of the columns relative to dyke walls are indicative that the igneous body may represent the main heat source for the interstitial aqueous solutions previously existing in the sediments. At macroscopic scale, the increasing of internal tensions in the sandstones is responsible for the nucleation of polygons, leading to the individualization of prisms, which are interconnected by a system of joints, formed firstly on isotherm surfaces of low temperature and later on successive adjacent planes towards the dyke heat source.

A modernização administrativa das instituições públicas federais: a administração estratégica como um enfoque gerencial para o IBGE

With the redefinition of the constitutional paper of the State, the federal Government developed through the Ministry of the Federal Administration and of the Reform of the State a ¿Director Plan of the Reform of the State Apparatus¿. Having as main objective the retaking of the capacity of management of the State, this Managing Plan proposes the introduction of the methodologies of modernization of the public administration and the revision in the ways of property of the State. As a complement to this Plan the Program of Quality and Participation in the Public Administration ¿ QPAP ¿ was developed. This Program proposes the accomplishment of some strategic projects. Among those projects it stands out the one of Restructuring and Quality in the Federal Executive Power, which defines as one of the work stages, the dissemination of the strategic planning in all the entities of the public administration. The strategic planning is considered nowadays only one of the stages of the strategic administration and it is fundamental that all elements of sistematization and analysis in all the phases of the administration of an organization are knomn. This dissertation tries to show that the dissemination of the strategic planning in the public institutions, especially in the IBGE, it is opportune and coherent, but that it will also be necessary to do an analysis of all the limitations and challenges that the leaders will face so that the strategic restructuring is implemented with the effective participation and all the employees commitment.

A organização e o novo conceito de capital no capitalismo dos profissionais

Modern societies cannot anymore be just defined as classical or bourgeois capitalism. Since the emergence of a second relation of production and a third social class in capitalist societies, they are mixed societies where two forms of property – capital and organization – are present. That is why modern capitalism is not anymore classical or bourgeois capitalism, but a mixed form that we call professionals’ capitalism or knowledge capitalism or technobureaucratic. In this paper I define the new relation of production that we call “organization”. As to capital, I discuss the transformation of its definition as capitalism changed historically.

A concessão de uso especial para fins de moradia na ordem jurídica brasileira: a medida provisória 2.220 a partir de uma análise constitucional

Este trabalho se propõe a analisar a posse dos bens públicos, sob a perspectiva do neoconstitucionalismo, com destaque para o princípio da função social da propriedade. A tese deste estudo se pautou na afirmativa de que a partir do surgimento da concessão de uso especial para fins de moradia, instituída pela Medida Provisória 2.220 para regulamentar o artigo 183, § 1º da Constituição Federal de 1988, a função social da propriedade, antes sobrelevada nos litígios envolvendo a posse dos bens públicos, passou a ser discutida no âmbito dos tribunais. Para a comprovação da referida tese, analisou-se a jurisprudência do Superior Tribunal de Justiça, dos Tribunais Regionais Federais das cinco regiões do país e dos Tribunais de Justiça do Estado do Rio de Janeiro e do Rio Grande do Sul. Feita esta análise, foi possível comprovar a tese defendida. Com o intuito de garantir a máxima eficácia ao princípio da função social da propriedade, defendeu-se a não delimitação temporal imposta pela MP 2.220, tendo por base quatro argumentos de índole constitucional, sendo eles, a observância da força normativa da Constituição, a aplicação dos tratados internacionais de Direitos Humanos, o respeito ao princípio da igualdade e, por fim, o princípio da supremacia da Constituição.

Sujeição passiva do credor na obrigação tributária e alienação fiduciária em garantia de bens imóveis: um estudo sobre IPTU à luz da jurisprudência e doutrina brasileira

O presente trabalho visa elucidar se com a formação do negócio de Alienação Fiduciária de Bem Imóvel para garantia de uma Obrigação Civil, o Credor-fiduciário, em razão das prerrogativas que a Lei 9.514/97 e suas respectivas alterações lhe conferem, poderiam levá-lo a figurar como sujeito passivo do Imposto Predial Territorial Urbano-IPTU para fins tributários. Para tanto, serão analisados aspectos gerais a cerca do IPTU e da Alienação Fiduciária para Bens Imóveis, utilizando como norte a legislação, a doutrina e jurisprudência pátria. Por conseguinte, em razão deste estudo, será levado a debate se o credor-fiduciário é realmente parte legítima para figurar no polo passivo de demandas que visem à execução de débitos tributários inadimplidos, que remetam a época em que o devedor-fiduciante exercia a posse direta sobre a coisa. Esta obra analisa se existe compatibilidade do parágrafo 8º do art. 27 da Lei 9.514/97 frente ao Código Tributário Nacional e a Constituição da República, sob duas análises interpretativas da norma, procurando revelar que vigora atualmente um cenário de insegurança jurídica para os credores-fiduciários e, caso não seja sanado, provocará um aumento no custo dos empréstimos.

Capitalização do imposto de propriedade no preço de mercado dos imóveis

Esta dissertação estima e discute a capitalização do imposto de propriedade no preço de imóveis, isto é, quanto um aumento de IPTU reduz os preços de imóveis e vice-versa. Por um modelo de diferença em diferenças e algumas tentativas de falseamento, obtiveram-se fortes evidências de capitalização, onde, em média, 100% de variação no imposto altera por volta de 30% o preço dos imóveis. Com isto, políticas de isenção ou redução de IPTU com fins sociais podem ser questionadas, pois dificultariam o acesso à moradia das famílias mais pobres, contribuindo para o processo de favelização. Ao mesmo tempo, maiores patamares do imposto poderiam ser utilizados não somente para elevar as receitas municipais ou como contrapartida ao uso de serviços públicos locais, mas também para tornar os preços dos imóveis mais acessíveis, reduzindo a pobreza e estimulando o crescimento das cidades.

Jardins periféricos: estudo comparativo de dois loteamentos populares no município de Taboão da Serra

A presente monografia tem por foco de estudo os loteamentos populares que são a forma mais usual de produção produção de habitação para a população-de-baixa renda nas grandes cidades brasileiras. A margem dos programas habitacionais empreendidos por organismos estatais, por demais burocratizados e ínfimos se comparados à demanda que deveriam suprir, os loteamentos periféricos empreendidos por particulares sempre existiram nos arredores das grandes cidades.