Government shelling out Millions for land titling support

LBC NEWS
Read Time53Seconds

Cabinet has approved the use of $100 million from the Land Administration and Management Programme (LAMP) Fund as grant funding to support land titling for approximately 2,000 beneficiaries under the voluntary system of land registration.

This was disclosed by Minister with responsibility for Education, Youth and Information, Hon. Karl Samuda, during Wednesday’s (October 9) post-Cabinet press briefing at Jamaica House.

He said partial funding of $20,000 will be offered as a full grant to landowners and up to a maximum of $50,000 will be given as a conditional grant, which will be repayable only if the land is sold within five years of receipt of the funds.

Mr. Samuda said a caveat will be lodged against the Certificate of Title to protect this interest.

Minister Samuda assured that the use of the $100 million from the LAMP Fund will not deplete the resources of the facility. He said that fees and other charges from beneficiaries of the grant will revolve into the Fund.

Additional information on the programme will be made available to the public, he said.

Staff Reporter

news@lbcnewsjm.com

0 0

About Post Author

0 %
Happy
0 %
Sad
0 %
Excited
0 %
Angry
0 %
Surprise

Leave a Reply

Next Post

Holness hand over brand new house to fire victims

On July 19 this year, fire destroyed a house on Bay Farm Road leaving a family of 15 homeless; a young child, Neymar Facey, tragically lost his life in the fire. Today, the family has something to smile about as the Prime Minister Andrew Holness handed over the keys to […]
%d bloggers like this: