Term:
Land ownership - in Finance
Definition:
By convention, land can only be owned by residents. So if a nonresident purchases land, then a notional resident entity is created on which the nonresident has a financial claim.
Domain:
Finance
Source:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix 1. Special financial instruments and transactions: classifications, IMF, Washington DC
