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A.J.Luwagga.

Capital Markets, Trustee investment and Condominiums.

How to hide your property from IGG

The easiest way to hide property from debtors, marriage partners, Tax man, etc is through creating secret trusts.

A secret trustee can be an individual, Company. Its owns property on your behalf. Such a trustee can’t sale without you consent.

Trustee relationships are among the most protected relationship in law, they are given priority over any legal relationship.

A trustee who transfers land without consent of the settler,beneficiary or mandate from the trust deed in liable.

Such a person appears on the certificate of title a s the owner but subject to a trust relationship sanctioned by the high court to the effect that he must comply with it.

Above is Dr. Louis purported title he created a trust in favor of Musitwa his Driver. Its believed a driver can’t have such money to buy the land but is his trustee. This is very wish because the property no longer belongs to Dr. Louis and it can be seized for corruption. Dr Louis is beginning investigated by parliament for alleged sell of several banks fraudulently.

NB.

I empathize with Dr. Louis because I know he is innocent he is just being witch hunted .

For specialized detailed advice

Consult a Trusts Lawyer.

Allan Luwagga

+256758006306

allanjluwagga@gmail.com

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How to hide your property from your marriage partner intending to file for divorce in Uganda

The easiest way to hide  property from debtors, marriage partners, Tax man, etc is through creating secret trusts.

A secret trustee can be an individual, Company. Its owns property on your behalf. Such a trustee can’t sale without your consent. Trustee relationships are among the most protected relationship in law, they are given priority over any legal relationship.

A trustee who transfers land without consent of the settlor, beneficiary or mandate from the trust deed in liable.

Such a person appears on the certificate of title as the owner but subject to a trust relationship sanctioned by the high court to the effect that he must comply with it.

For specialized detailed advice

Consult a Trusts Lawyer.

Allan Luwagga

+256758006306

allanjluwagga@gmail.com

HOW TO HIDE YOUR PROPERTY IN UGANDA


The easiest way to hide  property from debtors, marriage partners, Tax man, etc is through creating secret trusts.

A secret trustee can be an individual, Company. Its owns property on your behalf. Such a trustee can’t sale without you consent.

Trustee relationships are among the most protected relationship in law, they are given priority over any legal relationship.

A trustee who transfers land without consent of the settlor, beneficiary or mandate from the trust deed in liable.

Such a person appears on the certificate of title as the owner  subject to a trust relationship sanctioned by the high court to the effect that he must comply with it.

For specialized detailed advice

Consult a Trusts Lawyer.

Allan Luwagga

+256758006306

allanjluwagga@gmail.com

Condominium property in Uganda.

A person intending to set up a condominium ought to understand e following:
1. Its easier to raise finance to construct a condominium then normal rentals
2. Public policy encourages condominium holdings
3. He/she loses ownership of the building to the Condominium unit owners association. The association is a body corporate its share holders are all tenants on the building.
4. He/she is referred to as developer not owner.
5. He/she might become a Director of he association but he must notify the Registrar of lands
6. His/her title is encumbered by condominium titles so he can’t sale the property
7. You need a lot of professional advise from land valuers, surveyors and lawyers.
For specialized detailed advice.
Consult a Condominium property law practitioner.

A.J.Luwagga.
allanjluwagga@gmail.com
+256758096306

Khaki Campbell’s for sale

Am selling khaki Campbell’s which are laying eggs contact me on luwaggaduck@gmail.com or call or watsapp 0758096306.

Development Real Estate Investment Trust Scheme (D-REITS) will solve the Housing Crisis in Uganda.

Capital markets Authority has prioritized I-REITS whose main objective is to collect income in form of rent over D-REITS which are focused on development, construction and selling of Real Estate at a profit. The capital (Kampala) has a housing deficit close to 300,000 units, 1 million city dwellers are scantily housed with 68.5% housing units classified as slums that can’t exist for more than 3 year. The future is D-REITS. luwaggaduck@gmail.com. +256758096306

D-REITS connote a corporation authorized by Capital Markets Authority to own and develop property to dispose it off or collect rent.  D-REITS aim at acquiring eligible real estate, investing in development and Construction of the property for purpose of selling it off or renting it out. Marketing of real estate etc.

D-REITS differ from I-REITS though the two are used interchangeably. The requirements for establishment of each differ.   Before approval of a D-REITS  the investors must be professionals, a minimum of 7 investors is allowable, the minimum subscription of each parcel is UGX  150m  (7500 currency points), minimum value of initial assets shall be UGX 5Billion (250,000 Currency points), 25% of the total value shall be free float before the trust is Authorized by CMA.

I-REITS require a threshold of UGX 9 BILLION value of assets to be set up yet D-REITS call for 5 billion this is almost doubles. Most D-REITS aim at disposing of the assets to purchasers this reduces operational cost; investors get a quicker return on the investment upon sale as compared to rental in I-REITS which come in small bites.

Upon sale of the Property in D-REITS operational costs reduce, Tax and other liabilities are transferred to the new landlord. Uganda’s Economy is relatively small; investors need to be smart to minimize the cost of investment in order to get the highest return.

Sauces of Raising funds in D-REITS is open according to the  REITS regulations 13 ,a trustee may access funds from the public or through debit financing unlike  I-REITS which are limited to public offers. This provides D-REITS with a wider pool of resources.

Most Ugandans do not have titled land; according to the Torrens system they don’t own land at all. The main objective of D-REITS is to construct and development real estate for sale, upon sale purchasers acquire ownership of land. Why would CMA focus on schemes intended to make Ugandans tenants rather than Landowners.

Mr. Karugaba (Best Commercial Lawyer ULS) says prohibiting charging rent in dollars and analogy system Land registry is among the key challenges to development of REITS.  There is hope; the Ministry of Lands is in final stages of computerizing all titles and documents at the registry. This will means that forged fake documents can be sorted out at ago or online. This will solve the issue of defrauding clients.

 According to the 2017 Income Tax Amendment act, section 5 prohibits execution of rental agreements in any other currency other than Ugandan shillings; this is only a challenge to international bodies investing in Uganda through I-REITS because they are Rental based. Charging Rent in dollars isn’t a challenge per say because it can be mitigated by setting out a standard currency rate as compared to Bank of Uganda rate. The Income Tax amendment act came after landlords were over charging resident tenants exorbitant rent dues in foreign currencies.

Finally D-REITS only involve professional investors this means they are better managed because participants are experienced, exposed, educated and well informed about the sector. Uganda has very few professional investors, it’s worsened by rigid pension sector, and it becomes very hard to solicit for professional investors locally.  Save for the above mentioned reason, D-REITS still present a clear picture and solution to housing crisis lin.uuUganda as compared to I-REITS. CMA ought to promote both.

My Role Models.

if ur inspired by the best,You will be better.

  1. Daudi Mpanga.

He is a barrister and uganda’s best lawyer. he specialises in my areas of interest Financial institutions law,Banking and finance and Merger and acquisitions. he is very calm and yet informed.

 

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2.          Prof.Apolo Nsibambi.

He retired despite President’s reappointment. The is a resident of Busiro my home area and is one of the finest products of K.C.B. Apollo introduced Early payment of public workers by 28th. He has not be mentioned in any corruption saga.

appolo

 

3.           Dr.Samson Kisekka

Apart from being Ma Grandi,He offered all he had to oust a dictatorial regime which rich men of today failed. A candid Gentleman and accomplished doctor in Africa. he owned the biggest pharmaceutical company in Africa which supplied drugs to NRA soldiers in Luwero.

ki

 

4. Masembe Timothy Kanyerezi

Managing Partner MMAKS Advocates the best law Firm In uganda.He is the best litigation lawyer in the land.

MasembeKanyerezi

Philip Karugaba

philip-karugaba-page

 

 

 

 

 

 

Role Models

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To go by the book every campass student ought to have a role model.
I’m elated to be drilled by living men and women of laurels.
At such a time when EAC integration is at its helm am inspired by Mrs. Edith Mwanje permanent Secretary Ministry of EAC affairs,just for her candid leadership and great skill in public finance management.
For claim and workmanlike legal practice Owekitibwa Daudu Mpanga’s potriat is etched in my room.
Of course Old Johnny Uganda’s best columnist And senior presidential advisor on media is here in my heart.
As you prep for exams do u have a role model.

Welcome UCU freshers.

Its September and we now need a candid guild President. One who holds us(students) in high regard,cherishes accountability and honours Ladies.

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