280 . Hence, the argument presented by the respondent in support of his position, according to which the appellant submitted a report on each date on which the "Buyer's Price" apartment was sold to an eligible purchaser, and asked the tax assessor for approval according to Article 50 The law does not change my conclusions. The appellant acted to transfer lease rights to buyers of "Buyer's Price" apartments, in accordance with its obligation to the State in accordance with the contractual framework to which it is committed. The appellant paid tax to the tax assessor on any profit she made from the sale of the "Buyer's Price" apartments. The Meaning of Use In section 50 The law is that the appellant has declared and brought confirmation from the tax assessor that she does not have to pay betterment tax for the sale of these apartments, but must pay income tax in accordance with the instructions of the tax assessor. That's nothing more.
- I also did not find any substance in the respondent's argument that it should be determined that the appellant acquired a "right in the land" in the sense of Real Estate Taxation Law, due to the fact that it has mortgaged its rights in order to receive financing from the banks for the construction project.
The respondent's assumption is that any right that can be mortgaged is necessarily a "right in land" within the meaning of the law – and it is not.
As is well known, a person can have rights in real estate, which are not defined as a "right in real estate" in the sense of Real Estate Taxation LawFor example, if he has purchased a lease right for 5 years or even 20 years, and he can still pledge this right to a financier, such as a bank, in order to maximize his economic enjoyment of the property, to develop and improve it in order to generate economic profit. A person may even pledge, by way of a mortgage, any property or other right that does not amount to a "lease" or "lease" (see The Pledge Law, 1967).