Economic & Commercial Law

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Browsing Economic & Commercial Law by Author "Elifuraha, Eliudy"

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    Access to loans in microfinance institutions by use of unsurveyed land as security: Analysis of the law and practice in Tanzania mainland
    (2016) Elifuraha, Eliudy
    This dissertation is intended to be an analysis of the law and practice on accessing loans from microfinance institutions by use of unsurveyed land as security in Tanzania Mainland, and to identify various legal problems facing the borrowers and lenders when unsurveyed land is accepted as security to the loan transactions. Unlike any other Dissertation this work comprises five chapters, beginning with Chapter One, which is the introductory chapter. Chapter Two discusses the conceptual framework of mortgage creation over unsurveyed land. Chapter Three addresses the legal regime governing the creation of a mortgage in Tanzania by using unsurveyed land. Chapter Four is Data presentation, analysis and discussion of findings while chapter five concludes the study with recommendations on what can be done so as to reap the expected benefits. This study was motivated by the fact that the Government of Tanzania has worked hard to ensure that citizens access loans from Microfinance Institutions through enabling them to create mortgages by using both surveyed and unsurveyed land. This has been affected through making various legal and policy reforms. Despite those efforts some of the lending institutions are still reluctant to accept unsurveyed land as security for loans, occasioning this research to find out the legal reasons ( both substantive and procedural) why some of lending institutions are reluctant to accept unsurveyed land as security of loans . The study has found out that laws are not adequately framed. There are no clear provisions which address issues of unsurveyed land, and the lack of regulations that regulate mortgages on unsurveyed land leave a lot of loopholes and gaps on the existing stipulated provisions. Finally come recommendations and conclusions on the findings, where the researcher advises the Government, the Parliament, and the stakeholders on the steps to be taken in order to facilitate and enact laws and rules which will properly govern the procedures, rights and duties of parties who involve themselves in transactions of unsurveyed land to create mortgages in Tanzania.