We use household survey data to investigate the relation-ship between formal, private property rights to agriculturalland and agricultural investment, land valuation and accessto credit in Tanzania. Results show that landownership doc-uments are associated with substantial increases in the mar-ket value of land (more than 25%). One reason appears tobe that well-documented private property rights facilitatethe use of land as collateral for loans and therefore easeaccess to credit. The findings suggest that there are poten-tially significant, economic returns to systematic land titlingin Tanzania and other countries.