Land inheritance - How has it affect development of the real estate sector????

[Kayzzy3]

In some part of world, for example where am from, lands are owned by family and same is transferred from one generation other indefinitely.

These lands are continually split into bits and pieces to the children born to the family until many people will own very small portions scattered around the community.

This present a big challenge to estate developers, as they find it difficult to purchase a large portion of land in one location, because even if they measure our the land the need, they have to deal with many owners of small portions in the area they want to buy.

How can real estate developers deal with this type of land ownership?

 

[Nimra Saeed]

In some part of world, for example where am from, lands are owned by family and same is transferred from one generation other indefinitely.

These lands are continually split into bits and pieces to the children born to the family until many people will own very small portions scattered around the community.

This present a big challenge to estate developers, as they find it difficult to purchase a large portion of land in one location, because even if they measure our the land the need, they have to deal with many owners of small portions in the area they want to buy.

How can real estate developers deal with this type of land ownership?

It needs the use of great behavior and it demands great skills.The respective person should have great environment handling skills in the case if any mishap happens.

 

[Alexandoy]

There is a land of about 3,000 square meters just a stone's throw away from our home. It is actually outside the perimeter of our village. A developer is buying the land but it is having a problem with the title - there are 2 titles both owned by a group of cousins. The total number of signatories is almost 100 with some are already dead (the heirs would be the signatories). The negotiation had taken 6 months already but until now there is no clarity on the sale. That is one problem when the property is inherited by the grandchildren, it is so hard to get a unanimous decision from the owners.

 

[Abibatabosede]

The problem of inheritance in development of a rural estate could occure due to lack of same vision with the owner of the property or when the inheritance is for more than one person there could be disagreement.