Law Justice and Development
Posted in the Business News Forum
Since: Aug 12
#1 Sep 13, 2012
LAND law structures the land tenure systems of the countries in which the World Bank works, and constitutes an important topic in the dialogue with Bank client countries on sustainable development. It creates property rights systems for individuals, groups and the state, which in turn create incentives to conserve and produce. It sets out the circumstances in which and processes by which rights in land can be transferred, permanently or temporarily, or used to secure loans. It also embodies some limitations imposed by the state on those rights, for instance zoning rules that limit land use, or rules prohibiting transfers of land to foreigners. The rights may be full private ownership, or use rights, or leaseholds, or customary rights. Land law also creates the legal basis for institutions that administer land, and sets out the rules for system such as land titling and registration, which facilitate the smooth operation of property rights systems.
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