All types of land tenure options are available under ILTI (rental, lease and ownership). For the first time, community members could hold title to their land and their homes. This will provide members with equity they can use to start a business, renovate their homes, or bequeath wealth to their children. It will mean First Nations will have access to mortgages like other Canadians.
The Indigenous Land Title Initiative (ILTI) provides participating First Nations with title to their lands. First Nation ownership will replace the existing Crown ownership and include First Nation reversionary rights and expropriation powers. This is the greatest property interest available in Canada and reflects the underlying ownership held by provincial and federal governments in Canada.
In addition to underlying ownership, ILTI First Nations will have jurisdiction over land management, taxation and property right determination. These jurisdictions apply regardless of the type of ownership rights the First Nation decides to grant. These are similar jurisdictions and property rights that federal and provincial governments in Canada possess. So just as the transferring or granting of individual property rights does not remove it from federal or provincial jurisdiction, ILTI lands will not be removed from First Nation jurisdiction. ILTI preserves First Nation underlying ownership. In particular, ILTI preserves First Nation underlying ownership in at least the following ways:
- ILTI First Nations land and tax jurisdictions will have enforcement powers similar to other governments including possible seizure of the interest in the lands;
- ILTI First Nations can establish permanent community lands;
- ILTI First Nations can choose to allow individual ownership, how much to allow, and over which land;
- ILTI First Nations will have expropriation powers comparable to other governments; and
- ILTI First Nation land in an estate left without heirs will return to the First Nation (escheatment rights).
This collective ownership and government jurisdiction provides the basis on which a comprehensive property rights system is built. All types of land tenure options are available under ILTI (rental, lease and ownership). For the first time, ILTI community members could hold title to their land and their homes. As a result, guaranteed title and ownership of lands will provide substantially increased access to capital for both the members of ILTI First Nations for their individual purposes (such as for home ownership and construction) and for ILTI First Nation government’s community purposes (such as the provision of roads, utility services, and other infrastructure and the development and growth of community-owned enterprises).