Sunday, 25 October 2009

Seminar on new system replacing deed registration of property

Seminar on new system replacing deed registration of property

A seminar on “Registration of title to property” organised by Alumni Association of the International Development Law Organization (IDLO) Sri Lanka with the collaboration of Ministry of Lands & Land Development, Ministry of Justice & Law Reforms and Association of Corporate Lawyers of Sri Lanka will be held on October 30 at the Excel World from 9.30 am to  4.00 pm.The Registration of Title Act of 1998 (RTA) replaces deeds registration with registration of title to lands in areas where its application has been introduced by Gazette. Under this new system, ownership of land is based on a Certificate of Title. The man objective of title registration is to grant government guaranteed land title to private land owners. A system of stable property rights without labor intensive searches enhances the credibility and marketability of lands. This is a great incentive to entrepreneurs and the private sector, which is the backbone of the economy of our country. It is also the main purpose for which the Act is implemented.
The process of title registration, which has now picked up momentum under the Bim Saviya Program of the Ministry of Lands and Land Development, includes the issuing of Cadastral maps for blocks of land  and the issuing of Title Certificates replacing deeds at the cost and expense of the government. This new system will soon apply to lands in Colombo and several other Districts.

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