Pioneering innovation, the Guardian Right Registry has become a new housing market able to achieve specific results for landholders, guardians, investors and society who are focused on housing affordability, equity creation, and cost of living reduction. Completing our research in 2024, the GRR is now operational and actively implements property alternatives to enhance the housing market.
Over the past 40 years in the housing industry, EmpowerUs general manager Glenn Phelan observed that many commonwealth countries and states, including Australia, New Zealand, England, and India, use Rates notices that distinguish the Land component from the Capital Improved Value (CIV) generally noted as fixtures. Commonwealth countries legally classify CIV as appurtenances, or "the extras left with the land," however, legal definitions consider them as fixtures, if essential for "business operations of the land" even if they are moveable. Moveable includes a right or something that can be marketed separately.
Ownership is defined by the relationship to the object, and in terms of real property, rights and agreements connected to the land are said to "run with the land”. Where rights cannot be legally taken, only relinquished. A terms agreement allows property owners to place conditions upon the land when splitting their property into land and an interest over the land, and these conditions are passed from one owner to another in succession reafirming the terms which cover responsibility and costs, occupancy, share values and future pricing.
Guardianship offers property owners the flexibility to expand their holdings, sell portions from their holdings, build and grow equity through another party, or have flood affected and derelict homes rebuilt by another party offering a win-win scenario also beneficial for society. Our challenge was to set up a physical interest where clear ownership is established creating arms length financial clarity, and move away from the complexity of a mathematical percentage which complicated shareholder rights and responsibilities.
The building of the Guardian Right as an physical interest maiking it a specific equity holding in a property, avoided many complications and did not necessitate changing the title as this holding became personal property, ensuring compliance with existing laws, and was a challenging yet a rewarding endeavour.
Guardianship has been a work in progress. For 9 years EmpowerUs has offered the Australian and New Zealand governments, and housing research facilities this information, yet no institutional doors opened, after doing trial and error property deals for almost 40 years where this knowledge was gained.
Many sets of lawyers have been engaged over this period, firstly to change terms when required, and then to argue points relating to chattels, fixtures, property rights, contract terms, joint tenancies and the tenancy act, where we chased a form of co-ownership, progressing through leaseholds, strata, and tenant in common pre purchase agreements, not a post purchase agreement which I was after.
Finally, I reached the Guardianship version of equitable interest following the success I had achieved years earlier with Vendor Terms agreements. Special conditions can overcome complex property issues which I learned by relinquishing rights for the benefit of the purchaser and myself over some of the 40+ properties we have personally owned over the years in both Australia and New Zealand.