Key changes in land business that investors ought to know

People in real estate will bear me witness that land transactions have changed due to a number of regulatory and operational shifts that have taken place lately.

Prior to the recent changes this year, land laws as at 2012 were repealed and replaced by central statutes that govern land management.

These statutes guide transactions. A directive had been issued on how title documentation, including transfers, leases and charges were to be drawn up by advocates, taking into account the transition period.

In Kenya only advocates can draw up land documentation. Under the Contracts Act, land sale must be in writing.

The 2012 laws introduced new provisions in the drawing up of land documentation.

One example is that before matrimonial property can be used as security, spousal consent was necessary. This has changed the way banks and other lenders draw up their securities.

http://www.businessdailyafrica.com/Key-changes-in-land-business-/-/539444/2639442/-/item/1/-/b55wp6z/-/index.html

 

 

 

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