Real Property Law Outline
REAL PROPERTY LAW (COLLATERAL)
Definition: A system of law and regulations that:
- creates and protects recognized rights in real property (generally land and buildings);
- taps the asset value of real property through secured lending; and (3) preserves land use rights and tenant rights.
Real Property Law concerns the ownership and use rights attached to immovable property, including forms of ownership, assignment of rights through contracts, and institutions that record, authenticate, and enforce such rights.
A fundamental goal of Real Property Law reform is to stabilize property ownership rights or ownership-like rights to support the reduction of poverty and economic growth. Real Property Law that clarifies and stabilizes land tenure rights is a fundamental building block in social stability and economy activity. Development specialists have identified a clear relationship between land tenure and the reduction of poverty. As a general principle, granting ownership or ownership-like rights in property to rural or urban residents makes it possible to access the value of the real property, both in its primary role (housing, infrastructure for business, crop cultivation, or pasturing) and its secondary role as collateral for consumer or commercial credit.
The benefits of creating and stabilizing land tenure for people include:
- Economic growth
- Increased crop production
- Improved nutrition for poor households
- Stronger communities, facilitating democracy and reducing conflict
- Improved environmental results
- Decreased pressure on urbanization
- Transformation of the asset.
Land is a strategic socio-economic asset, particularly in poor countries’ societies where wealth and survival are measured by control of, and access, to land.
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