Translation:Property Tax Law (Betterment and Purchase)

Part One: Commentary

Definitions:

1. In this law - "Real estate" - Land in Israel, usually houses, buildings, and other things that are attached permanently to the land.

(Correction #15) 5744/1984 (Correction #33) 5756/1996 (Correction #40) 5758/1997

• "Right of Real Estate" - Ownership, or leasing for a period that is longer than 25 years, whether by law or by equity, often permission to use real estate, which can be viewed in terms of ownership or leasing for the aforementioned length of time; and in respect to permission to Israeli real estate - even if permission is granted for less than 25 years; in this respect -
• "Permission" - Excluding such permission that is not typically renewed from periodically.
• "Israeli real estate" - The definition used in the Basic Law: Israeli Real Estate
• "Lease for a period" - The maximum period in which the lease can provide to the lessee or lessee's associate by agreement or by the rights provided to the lessee or the lessee's associate by agreement.
• "Lease" - Lease, sublease, leases thereof of leases at any level, renting, sub-renting, and renting thereof of renting at any level, a strong and unique right.
• "Sale" - In regards to right in real estate, with or without consideration.