Dive into the world of tenancy in common according to the Land Act, where co-owners maintain individual property stakes. Uncover its attributes, methods for conclusion, and the legal presumption in cases of unspecified ownership.
Property
Person A bought a parcel of land in the 80’s and was irregularly issued with a Certificate of Title by the Nairobi land registry. Over the years there have been subsequent transfers. Currently, the land is lawfully registered to Person B who has constructed a development consisting of 100 apartments for sale after acquiring all the necessary approvals. The development was ranked as the best place to live in Nairobi in 2022, subsequently, all the apartments quickly sold off.
As a real estate investor, having a rental property is considered a great investment. However, managing the rental property as an individual has numerous challenges that are likely to undermine the value of owning such a property.
Kenyans living abroad account for a significant portion of investment in the Kenyan real estate industry. Real estate is often preferred to other investment classes due to its superior returns and the stability it offers.