Land Titles: A Missing Basic Elemental Of The Real Estate Market

Azwar Muhammad Aslam and Ahmed Waqar Qasim
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Azwar Muhammad Aslam: Pakistan Institute of Development Economics
Ahmed Waqar Qasim: Pakistan Institute of Development Economics

No 2024:125, PIDE Knowledge Brief from Pakistan Institute of Development Economics

Abstract: No titles to land in the existing land titling system therefore instruments in the contemporary system are not instruments of title and hence are not conclusive. Records of right are not instruments of titles only carry the presumption of truth Mutation since not part of the record of right, does not even carry the presumption of truth and is neither document of title. Transfer deed registration does not equate to the registration of title/right rather it just adds the element of presumption of truth. So, the contemporary does not provide titles to land and hence not a land titling system. Rather a land record management system that just registers the tools and records the rights transferred based on those tools. Multiple agencies are handling records pertaining to land and records keeping is just for revenue generation purposes. The system itself is outdated and has serious implications for the economy and society since land is not part of the economic transactions due to unclear and dubious property rights. Past transactions and transfer of rights are needed to establish the chain of ownership. Torrens is the only way forward, as it will provide title to land in a transparent and effective manner.

Pages: 12 pages
Date: 2024
New Economics Papers: this item is included in nep-agr, nep-inv and nep-ure
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