Facilities for Title Act. | Land Portal

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LEX-FAOC070787
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This Act provides for procedures that may be adopted by an approved lending agency where a person applying to an agency for a loan for an agricultural purpose, or for a purpose declared under be an approved purpose by the Minister, is unable to show title under the Registration of Titles Act or a title at common law which satisfies the agency.The Act also provides for the acceptance and execution of mortgages to secure loan and for the establishment of a facilities for Title Compensation Fund and the payment into the Fund of parts of a loan granted by an agency. “Agricultural purpose’’ includes any purpose for the encouragement or promotion of agricultural, horticultural or pastoral activities, afforestation, apiculture, fish culture or breeding of livestock or poultry.

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The island - discovered by Christopher COLUMBUS in 1494 - was settled by the Spanish early in the 16th century. The native Taino, who had inhabited Jamaica for centuries, were gradually exterminated and replaced by African slaves. England seized the island in 1655 and established a plantation economy based on sugar, cocoa, and coffee. The abolition of slavery in 1834 freed a quarter million slaves, many of whom became small farmers. Jamaica gradually increased its independence from Britain. In 1958 it joined other British Caribbean colonies in forming the Federation of the West Indies.

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