This Act makes provision for selected matters in relation with property and in particular immovable property.The Act provides rules relative to licensed activities in respect of leases and other effects of legal deeds or proceedings on lease, effects of release from a rentcharge or judgements of parts of hereditaments charged therewith on unreleased parts, executions of deeds, illegal practices with deeds, duties of trustees and executors in respect of existing leases and other matters regarding land under inheritance or intestate.
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Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas has prospered through tourism, international banking, and investment management. Because of its location, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.