LAND DOCUMENTS

HOW TO KNOW A GENUINE LAND DEAL (1)

It has been proven beyond doubt in all ages that buying and owning properties is a sure way of gaining financial freedom, achieving ones dreams and getting free from the #RatRace.

Therefore, if you want to buy a land to build your house or for business in the real estate business space, how to procure a genuine land from a land vendor( owner or agent) without stress either before or after should be of interest to you. This post is focused on necessary REGISTERED TITLES as a means of knowing a genuine land deal.

      These titles are:

1. THE SURVEY
2. THE CERTIFICATE OF OCCUPANCY (C of O)
3. GOVERNOR'S CONSENT 
4. REGISTERED CONVEYANCE 
5. LAND CERTIFICATES
6. REGISTERED DEED OF GIFT
7.  REGISTERED POWER OF ATTORNEY

                                                                                                                                               These documents of title should be sufficient in themselves without any extrinsic evidence to establish the title to the land. This shows if the vendor has valid right to sell the land and if it is unencumbered.                                                                                                                                                                                                                                 CONDITIONS                                                                                                                                  The conditions to be satisfied for a document to be a good root of title are as follows                    

·        It must transfer both the legal and equitable interest in the property                                                 

·        It must clearly describe the property and extent of interest being conveyed.                                        

·        It must clearly state the owner of the property.                                                                                   

·        It must not be subject to any higher interest over the property i:e there should not be any superior title on it

·        Nothing on the face of the title should cast doubt on its authenticity i:e there should not be any form of alterations or cancellations or erased words.  

                                                                                                                                                                                                                                                                          #WATCH OUT FOR THE NEXT POST.

We will explicitly explain what each document should contain and the legal implication of each.

Co-Contributor - ERSOGHY REALTY

 #HappyNewMonth, Greetings from #PROPERTIESAVVY

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