Ownership is the state of having complete legal control of the status of something.
Where a land title exists (in the case of freehold land for example), determining ownership is typically quite straight forward, but local government assets aren't always located on freehold land. It is quite common for council assets such as; roads, drains, sports facilities, playgrounds, and municipal buildings to be constructed on crown land, typically reserves set aside for specific purposes.
Typically Council is considered to be the owner of assets constructed on crown land for which it is the committee of management and for the vast majority of local roads, and these assets are therefore recognised in Councils financial statements.
- Committee of Management
- Crown Land
- Freehold Land
- Reasons for Asset Ownership
- Road Ownership
- Road Reserve
- Victorian Road Management Act 2004
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