Land Registration Systems Around the World Land Registration Systems Around the World Around ... PDF
Preview Land Registration Systems Around the World Land Registration Systems Around the World Around ...
LLaanndd RReeggiissttrraattiioonn SSyysstteemmss AAAArrrroooouuuunnnndddd tttthhhheeee WWWWoooorrrrlllldddd PPPPRRRRIIIIAAAA WWWWiiiinntttteerr CCCCoonnffffeerreennccee WWWWaasshhhhiiiinnggttttoonn DDDDCCCC MMaarrcchh 55 22000099 PPeetteerr RRaabblleeyy IIIInnnntttteeeerrrrnnnnaaaattttiiiioooonnnnaaaallll LLLLaaaannnndddd SSSSyyyysssstttteeeemmmmssss((((IIIILLLLSSSS)))),, IIIInnnncccc Copyright © 2009 International Land Systems (ILS), Inc. Land Systems: Why? • Government function has been to maintain records regarding land and other real estate to properly assess its value and collect real estate taxes • Cadastres (Land books) were introduced to keep track of the tteecchhnniiccaall aattttrriibbuutteess ooff tteerrrriittoorriiaall llaanndd iinnvveennttoorriieess • The earliest cuneiform records from 4th century B.C.E. in Mesopotamia are administrative property records dealing with land, animal husbandry and personnel management • Over the last two centuries legal rights and responsibilities of bbootthh tthhee pprriivvaattee aanndd ppuubblliicc sseeccttoorrss eennggaaggiinngg iinn rreeaall eessttaattee transactions have become a primary concern Copyright © 2009 International Land Systems (ILS), Inc. Land Systems: Why? • No country can sustain stability within its boundaries, or eeccoonnoommiicc ddeevveellooppmmeenntt wwiitthhiinn tthhee wwiiddeerr wwoorrlldd, uunnlleessss iitt hhaass a system of registering private property rights that promotes internal confidence between its people, its commercial enterpriises andd iits government. • Recognizing that private property rights are the major source ooff nnaattiioonnaall wweeaalltthh lliieess aatt tthhee hheeaarrtt ooff ggoooodd ggoovveerrnnmmeenntt aanndd effective public administration. States that prosper promote widespread and secured private ownership of real estate as a ffounddattiion off sociiall andd economiic polliicy. Copyright © 2009 International Land Systems (ILS), Inc. Benefits of Land Systems Certainty of Ownership Improved Spatial Security of LLandd-use TTenure Planning Improved Facilitated State-lands Land Managgement Reform Modern Proppertyy Improved Improved Land LLaanndd-mmaarrkkeett Registration Resource Monitoring Management System Credit Land Security Disputes Reduction Increased Land Market Property Stimulation Taxation Improved Conveyancing Public Confidence Copyright © 2009 International Land Systems (ILS), Inc. Principles of Land Systems Properties: Parties: •• PPaarrcceellss • Owners • Buildings • Tenants • Construction •• MMoorrttggaaggoorrss • AAppaarrttmmeennttss • Trustees • Caveators • Attorneys Rights: • Ownerships •• LLeeaasseehhoollddss • Servitudes • Restrictions • Encumbrances • Caveats Copyright © 2009 International Land Systems (ILS), Inc. Essence of Land Systems Bundle of Rights • Real property rights defined and protected by Government. • Real property rights have a legal dimension. • Real property rights have a physical dimension; the tthhiinnggss wwee ccaann ggaaiinn rriigghhttss oovveerr mmaayy bbee ttaannggiibbllee oorr intangible. • Real property rights have an economic dimension; real pprrooppeerrttyy iiss aa ssttoorree ooff vvaalluuee, aann eelleemmeenntt ooff wweeaalltthh ‐‐ aa safe “harbor”. Copyright © 2009 International Land Systems (ILS), Inc. Essence of Land Systems: Rights • Rigght of pprivate pproppertyy is defined byy a Constitution,, Legislation/Code, Regulations, and Customary Law • The British Common Law is an example of customary law • Manyy of the pprincipples of this common law have been codified by legislation • Many countries have customary rights • The rigghts are created byy contract: • First from Government to Private Sector/Person • Subsequently, between any parties competent to contract Copyright © 2009 International Land Systems (ILS), Inc. Essence of Land Systems: Rule of Law • Legislation • DDooccuummeennttaattiioonn • Procedures CCoonnvveeyyaanncciinngg Registration • CCoommpplleetteenneessss ooff RReeccoorrddss • Access • CCoosstt • Integration of Land Information Copyright © 2009 International Land Systems (ILS), Inc. Land Systems: Market Expectations • A Simple, Understandable Procedure for Recognizing Rights • Effective,, Secure Documentation of Rigghts • Protection against Infringement of these Rights by Others • A Public Record of these Rigghts so Others Know • Records Complete and Incontrovertible Proof • Convenient Methods for Transferringg these Rigghts • Effective Procedures for Preserving the Written Record “The power to identify and isolate with precision every asset and every particular interest on that asset” Copyright © 2009 International Land Systems (ILS), Inc. Land Systems: The Financial Sector • Primaryy land markets created • All transactions must bbee ttrraacckkeedd • Markets mature and confidence grows • Securitization mobilizes funding Source: Williamson Copyright © 2009 International Land Systems (ILS), Inc.
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