TLLS 03/07/2013 At the meeting the East Timor Council of Ministers on 25 June 13, the CoM approved:
1. Proposal of Law on the Special Regime for Defining Ownership of Real Estate
The Special Regime for the Definition of Ownership of Real Estate creates mechanisms that freely and fairly allow an efficient way to identify rightful owners of Property, to recognise property rights and promote land distribution. This proposal takes into account the history of Timor-Leste and the knowledge accumulated over several years of studies and public consultations to strengthen consensus and balance between the various positions on the issue.
The approval of this legislation by the National Parliament is a key step in a process that as necessary has been lengthy and exhaustive yet critical for the development of the country; and
2. Proposal of Law on Real Estate Financial Fund
This legislation creates a financial instrument needed for better implementation of the Special Regime for Defining Ownership of Real Estate. This proposal of law will now be sent to the National Parliament for approval.
Source: Presidency of the Council of Ministers of the V Constitutional Government 25 June 2013