Feature
Name: What's in a
UNDERSTANDING THE
the importance of a
title
D
onkey say di worl’ no level! And so it is with land titles – not all land titles are created equal. Real estate is widely recognized as one of the best tools for building wealth. Land of any kind has value and that value generally
appreciates. Land can be sold, leased, gifted, or
By: Kameika FullertonDeLisser lands may generally have some document showing that they have rights to the land, but other people could have similar documents. How can one be sure that the documents presented are genuine and legally binding? This lack of certainty makes those documents, referred to as Common Law titles, less secure.
passed down from one generation to the other.
What is a registered title?
Owning land and not having a registered title for it is
A registered title is a certificate that is issued and
like having a football with no air in it. It may be yours
guaranteed by the government to conclusively prove
but what can you really do with it? Sure, you may have
who owns a piece of land. Unless obtained by fraud,
a survey diagram with your name on it, or a receipt
ownership of registered land cannot be challenged.
showing you bought the land. You may even have
It is the most superior evidence of land ownership.
a letter from your grandfather saying he wants you to have the land. But if you want to use the land as collateral for a bank loan, those things won’t take you
Having a registered title in your name reduces the likelihood of disputes with anyone and can create opportunities for wealth creation as it can be used as
very far.
collateral for many types of bank loans.
Research suggests that about 40% of land in Jamaica
How can you get a registered title?
is unregistered. In other words, those ‘landowners’
To get a registered title, the land must be brought
have no registered titles. The people who own such
under the operation of the Registration of Titles Act
7 6 H O M E & A W AY
AN NHT HOUSING MAGAZINE
