Modelling the rural land transaction procedure

This paper addresses sale as a specific case of real property transfer. Special emphasis is on the administrative procedure and legal framework of such property transactions in Slovenia. The article is concentrated on the rural land sale with the main aim to present and expound the models of transactions for international comparisons, and for comparisons of the real estate transfer among different real estate markets. A detailed transfer of the ownership of rural land is presented, where standardized modelling language UML serves for visualization of the models. The outcomes of this research are presented on different UML diagrams. Besides the comprehensive presentation of the transaction procedures also the roles of involved actors are introduced. The modelled transaction could be the base for the simplification and optimization of the rural land transaction procedures; and consequently, development of the rural land market. Furthermore, such models can serve as the starting-point for the rural land market analysis, providing basic information on spatial planning, progress in land policy, land management, real estate appraisal and property taxation.