“That will be a mammoth task the resources that will have to be put into it will be phenomenal, but at some point the country has to bite the bullet and do it, and eliminate the risk of people falling into this same trap over and over.” “That is something, for the most part, where a significant amount of people agree that is the way,” he told Tribune Business of a registered land system. While the developer fought a 12-year legal battle to overturn that Certificate, the speculators rapidly sold the land - which they did not own, or possess clean title for - to numerous unsuspecting Bahamian desperate for a chance to ‘own their piece of the rock’.ĭespite offering to settle with all victims of the fraud, Arawak Homes has frequently been forced to defend its ownership of the property, located in the Nassau Village/Pinewood Gardens area, against those who are illegally occupying the land.Įchoing previous calls for the Bahamas to enact fundamental reforms to its land title/ownership system, Mr Wilson said a Land Registry offered the best potential protection against similar real estate frauds. Tribune Business reported on Tuesday how a group of land speculators, aided by some unscrupulous attorneys, created a nightmare for hundreds of Bahamian families when they fraudulently obtained a Certificate of Title to 156 acres legitimately owned by Arawak Homes. Speaking after Arawak Homes’ latest legal victory in a three-decade long battle to safeguard its ownership of land in the Sir Lynden Pindling Estates area, Mr Wilson said a registered land system might prevent Bahamians “falling into the same trap”.
Tribune Business Homes’ president yesterday agreed that the Bahamas needed to “bite the bullet” and switch to a registered land system, in a bid to prevent frauds that have victimised hundreds of real estate purchasers.įranon Wilson told Tribune Business that while establishing such a system, and the Land Registry to oversee it, was “a mammoth task”, there was significant consensus among real estate industry professionals that this was the direction the Bahamas had to take.
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