Searches
23. An essential preliminary to every land transaction is a search in the land registers to ascertain who is registered as the owner of the property and what, if any, incumbrances are registered against it. During the year 25,405 searches, 6,000 more than in 1961-62, were made by members of the public, the vast majority being made by solicitors' clerks, who are familiar with the Land Office system of keeping the registers. In addition to these, thousands of searches were made for Government departments either by their own or by the Land Office staff. Although additional tables were squeezed in, the facilities available to the public in the Land Office search area were often inadequate and searches had to be made in conditions of great congestion. Plans have therefore been made to expand the search area as soon as the Department receives its additional accommodation in the building as mentioned in paragraph 15.
Stamp Duty
24. Consequent upon the reduction in the total considerations in assignments the total amount of stamp duty paid on instruments registered receded from last year's record figure by just under $1,000,000 to $30,632,583.30.
Land Tenure
25. With the exception of St. John's Cathedral all land in the Colony is held leasehold from the Crown. In the very early days of the Colony, Crown leases were granted for 75 years, but in 1849 the term was extended to 999 years, and much of the most valuable land in the centre of the city is held on leases for that term. The 75 year non- renewable lease did not however entirely drop out of use, and from 1875 onwards large numbers were granted mainly for lots on the Peak and in Kowloon. The practice of granting 999 year leases was dis- continued in 1898, since when leases of land in the ceded areas have been granted for 75 year terms, usually with the right of renewal for a further 75 years at a reassessed rent. Exceptionally, leases of the lots in the Praya East Reclamation carried out in the 1920s are for 99 years renewable for 99 years. Crown leases for lots in the New Territories were until 1959 granted for a term of 75 years from 1st July 1898, renewable for 24 years less the last three days thereof. Since late 1959 they have been granted for 99 years from 1st July 1898, less the last three days. All the New Territories Crown leases therefore expire three
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