In this month's Finance Briefing, we provide an update on our Brief Note of January 2018 (the Previous Updater) that focused on the amendments to the Land Act, 1999 (the Land Act) which were introduced in the Written Laws (Miscellaneous Amendments) (No. 5) Bill, 2017 (the Bill). The new Written Laws (Miscellaneous Amendments) (No. 1) Act, 2018 (the Act) that came into force on 9 February 2018 provides some clarity on some of the questions that we posed in the Previous Updater. These are some of the amendments that have been made in the Act:
Clyde & Co Tanzania's finance and real estate team have the legal expertise to support borrowers, property owners / developers and investors that may have any questions on the Act and its implications on the use of landed property to secure debt. We are available to respond to any legal questions you may have on the subject.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.