Land is essential for every human activity on earth as it is the source of all material wealth. In order to regulate the ownership, use and development of land and land resources, nations over the world have instituted land ownership systems aimed at consistent balancing of the interests of the government, the land owning class and the landless class. This paper examines the parallel nature of statutory and customary land ownership in Cameroon, how it has evolved over the years until 1974 when a single land law, otherwise known as the 1974 Land Ordinance, which were established to harmonize and regulate land ownership in the country. The paper further contends that the present land ownership system in Cameroon as found in the ordinance is advocating inclinations with excessive state control of land ownership, use and development. In connection with our above objectives, we adopted an in-depth content analysis, which is based on primary and secondary sources of data collection imperative to the study. The paper concludes that such land system cannot effectively support the indigenes and development initiatives as it creates too much bureaucracy in land transactions, land registration and land titling. It recommends an urgent balance between the statutory and customary land ownership to facilitate access to land with ease for various purposes.