MENU
Legal Chatbot
Case Summaries
Law Firms
Documents
Forum
Online Tests
Sign In
Join
Key steps in purchasing land in Kenya
What are the key steps in purchasing land in Kenya?
Share this post with your network:
Comments:
Winfred
said:
In Kenya, there are several ways of acquiring land, purchase being one of them. This mode of acquisition of land involves a buyer and a seller where a financial transaction occurs in exchange of land. Before settling on purchasing land, one should conduct a thorough search. This is an important part of doing your due diligence as it will help you establish the rightful owner of the property you seek to purchase and whether or not there are any pending issues related to the ownership of the land in question. To ascertain this, there are several steps which one should consider before purchasing land. They include: i. Land identification. This is the first step where you need to determine size, location, budget and purpose of the land that you need to buy. For example, if you want to buy land to construct a home, then you have to look for residential land, if it's for farming, look for an agricultural land and if you want to put up a rental property look for a commercial land. The budget determines the location and size of land you can afford. Generally, locations close to towns or social amenities attract a higher price. Bigger land sizes also attract higher prices. Once you have identified a piece of land that meets your criteria, plan to conduct a physical visit. ii. Conduct a land registry search. Once you decide on the property you intend to buy, ask for the title deed and the details of the owner. The copy of the title deed helps to conduct a search at the land registry to confirm ownership. iii) Preparation of offers and price negotiation. If you have verified all details and are satisfied with the search, you then make an offer. If the offer is accepted, then a sale agreement is made based on the purchase price. All details discussed are included in the sale agreement. In addition to the sale agreement, you and the seller will need to sign transfer documents that will be taken to the Land Control Board. It is advisable to wait for clearance from the land control board before paying any deposit. This will ensure that if LCB does not approve the sale, you can get your money back. iv. Land control board clearance. For the sale of land to occur, there must be an approval from the local land control board. Once you have been cleared by the LCB you will need to pay for land rates. One you make any rates that are due, you will be issued with a clearance certificate. After the issuance of the certificate, you can make payment of the land and get signed transfer forms from the seller. v. Transfer of ownership. When you apply for transfer of property, a valuer will be visit the land and place a value on the property. The value maybe different from the amount you paid, and it is the value that determines the stamp duty payable. Stamp duty is charged on the property value, or the sale price agreed upon, whichever is higher and is paid by the seller. The next step is the registration of titles in your name. The county government will review the submitted documents and if they are complete a new title is issued. vi. post-purchase activity. Post- purchase activity involves any necessary activities conducted after the purchase such as, registration and payment of agents involved in the purchase process. The seller will pay the agent they instructed to market their property while the buyer will pay the agent who linked them to the seller, if any. Note: It is advisable for one to seek guidance from a lawyer or a legal profession on matters of land.
(
0
)
Guidelines:
Stay on topic.
No spam or self-promotion.
No hate speech.
Avoid posting personal information.
Post your comment now
.
Post your comment here:
Related Topics:
Process of Land Ownership Transfer in Kenya
What is the impact of the Land Registration Act on property owners in Kenya?
Rights and Responsibilities of Landlords and Tenants in Kenya
How does adverse possession work and can someone really claim my land?
What is the difference between joint tenancy and tenancy in common?
View all topics