IMPACT OF UNTITLED LAND RIGHT ON REAL ESTATE INVESTMENTS IN NASARAWA, NASARAWASTATE, NIGERIA

Author: Lawal Kolawole Shuaib
Department: Estate Management
Affiliation: Nnamdi Azikiwe University Awka

Land has been said to be the basis of all wealth, but no matter how indispensable land resources is in the process of economic development, it will only achieve little out of its economic potential without adequate and well defined title. The thesis is aimed at investigating the impact of untitled land right on real estate investment. To achieve the aim, a set of objectives was formulated which included investigation on why some properties are not acceptable as collateral for loans; examination of the relationship between informal land title and real estate investment; examination of the hindrances to formalization of land title and examination of the effect of informal land title on access to credit in the study area. Using 390 respondents as sample size Analysis of Variance and Relative Importance Index (RII) as statistical tools, it was discovered that untitled land right is a disincentive to real estate investment and access to credit. It was also discovered that formalization of land title was fraught with bureaucratic bottlenecks and unnecessary interference from traditional chiefs of the area and as a result most land owners were discouraged from pursuing title formalization. It was recommended that government should streamline and simplify the process of title formalization as well engage in awareness campaign concerning the benefit of formal land title.

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