NAIROBI,Kenya Oct 11-The Law Society of Kenya (LSK) Chairperson Faith Odhiambo has raised alarm over growing corruption, inefficiency, and bureaucratic delays within real estate and land administration systems.<\/p>\n
Speaking during the Association of Real Estate Stakeholders (RESA) Annual Dinner in Nairobi, Odhiambo said the industry is riddled with complaints about irregular approvals, compromised registries, and poor coordination between government agencies and counties.<\/p>\n
LSK Chair warned that the problems are threatening investor confidence and exposing property buyers to huge losses.<\/p>\n
\u00a0\u201cWe\u2019re seeing increasing complaints about corruption and inefficiencies at the Ministry of Lands and across county governments,\u201d she said.<\/p>\n
\u00a0\u201cThese challenges are not only at the land registries but also in approvals for developments. They have far-reaching effects for those taking loan facilities, and banks must ensure proper securitization to protect investors.\u201d<\/p>\n
She said the solution lies in multi-sector collaboration involving lawyers, bankers, surveyors, real estate agents, and planners to collectively identify and address loopholes that undermine transparency in the property market.<\/p>\n
\u201cWe must bring all players together\u00a0 from financiers to regulators \u00a0to develop solutions that restore order and accountability.And where processes are flawed, we must not hesitate to challenge them in court to ensure transparency and fairness for all parties,\u201dshe said.<\/p>\n
Odhiambo further noted that \u00a0courts have recently taken a tougher stance on property ownership disputes, emphasizing the need for buyers to conduct thorough due diligence before investing.<\/p>\n
\u201cDue diligence must go beyond surface checks. Investors need to dig deep into the ownership history of properties and verify all approvals. We have seen people lose land that changed hands several times, simply because it was originally public land,\u201d she warned.<\/p>\n
At the same event, newly appointed RESA Vice Chairperson Abigail Zuena Gikonyo turned her focus to women\u2019s empowerment in real estate, urging women to be deliberate about establishing ownership rights.<\/p>\n
\u00a0\u201cWomen must now be intentional about owning propertyThe law has evolved \u00a0beyond the right to own property, you must prove your financial contribution toward its purchase. In cases of divorce or death, if you cannot demonstrate that contribution, the law may not necessarily protect you ,\u201d Ms. Gikonyo said.<\/p>\n
She noted that property ownership among women remains disproportionately low despite constitutional guarantees, calling on women to pursue joint ownership and proper documentation when acquiring assets.<\/p>\n
RESA Chairperson Dr. Chrispus Wachira reassured investors that the association is enforcing higher professional standards to protect the public from fraudulent dealings.<\/p>\n
\u00a0\u201cWe want to tell Kenyans they will not lose their hard-earned savings if they engage members of this association.We are instilling a culture of professionalism and adherence to process \u00a0both within organizations and in compliance with national laws,\u201d said Dr. Wachira.<\/p>\n
Wachira said RESA members are being trained to uphold ethical practices and comply with both internal company procedures and government regulatory frameworks.<\/p>\n
The annual dinner brought together key industry players from the legal, banking, and property development sectors to discuss reforms real estate market \u00a0a sector valued at billions of shillings but increasingly marred by disputes, fraudulent transactions, and unverified investments.<\/p>","protected":false},"excerpt":{"rendered":"
NAIROBI,Kenya Oct 11-The Law Society of Kenya (LSK) Chairperson Faith Odhiambo has raised alarm over growing corruption, inefficiency, and bureaucratic delays within real estate and land administration systems. Speaking during the Association of Real Estate Stakeholders (RESA) Annual Dinner in Nairobi, Odhiambo said the industry is riddled with complaints about irregular approvals, compromised registries, and […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-122909","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/122909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=122909"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/122909\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=122909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=122909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=122909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}