Ownership of Land in Kenya
Games are won by players who focus on the playing field not by those whose eyes are glued to the scoreboard. In case you are thinking of investing in land do not wait, Invest first then wait as land increases in value with time.
Land overall is one of the investments with a lot of benefits. Land can be developed to get you capital. You can construct on it and build commercial structures on the land which will in turn earn you capital. You may also decide to hold the land over a period of time with the fact that land appreciates with time in mind, then resell it at a higher price after that area has been developed more.
In case none of these options appear suitable for you, you can also choose to farm on it and earn returns at the end of the month or year.
Regardless, the land will still generate income for you which all goes hand in hand in explaining why land is the greatest investment on earth.
The greatest investment on earth is earth, a real estate investor, Glickman, once quoted.
The legal procedure
Before you dive in to the purchase of property, consider:
- The location of the property
- The land that best suits your interest
- Your budget
- The organization or person you are buying land from
Procedures to own land
The Proposed use of the Land
The first step in the land ownership journey is identifying the piece of land that you need depending on the specific use you want the land for.
The main categories of land in Kenya are residential, commercial, industrial, agricultural, or recreational.
You should ensure you make an inquiry at the National Government as well as the County Government on the type of land in question is and if its suitable for the purpose you ant to use it for.
After you have identified the land, it is vital for you to conduct a search on the piece of land that you have chosen.
In order to conduct the search, you will be needed to fill a Search Request Form which is obtained at the Lands Registry accompanied by these documents: a copy of the title deed, a copy of your Identification card as well as a copy of the Kenya Revenue Authorities (KRA) pin certificate. The search results will be ready in an average of three days, after the Lands Registration officer fills the form with the details of the status of the Land. This is charged at Ksh. 500
The search indicates the owner of the particular piece of land and will help in comparing the details on the title with those in the land registry records. It also show whether or not there is a mortgage associated with the property as well as any other relevant entries registered against that land. Land rates must be paid before transfer of land is made
The sale Agreement
This sale agreement is more often drawn by the seller’s lawyer. You should also have your own lawyer to represent your best interest since all applications for land title deeds and land transfer of ownership are done with the help of a lawyer.
The lawyer will assist in signing the agreement. The seller may require you to pay a certain percentage of the purchase price as deposit.
Consent of Land Transfer from The Land Control Board (LCB)
Consent of Land transfer is given by the County Land Control Board (LBD). The Land Control Board comprises of the County Commissioner and area elders. They are responsible for ensuring that all land transfers are transparent. The LCB meet once in a month to deliberate on requests for transfer of land hence the process takes 30 days.
You should ask for approval of transfer of land within 60 days of drawing the agreement.
Stamping of the transfer
You should use the valuation form filled by your seller to apply for valuation by the government valuer. Land valuation for the purpose of transfer was previously done by a government valuer.
You can get a valuer at the Valuation and Land Administration Division of the County Lands office. The new Cabinet Secretary of The Ministry of Lands appointed a list of private valuers who will work hand in hand in assisting the ministry run smoothly. As deploying the help of a government valuer does not incur any cost, if you decide to get services from a private valuer, you should be ready to pay the due cost of his/her services.
The signed transfer forms should be taken to the Ministry of Lands accompanied by:
- The title deed
- The sale agreement,
- Clearance from LCB,
- Land search documents,
- Your National ID,
- KRA Pin certificate,
- Clearance from the county,
- Three passport photos.
The change of land ownership will take an average of 2 weeks and a cost of at least Ksh. 5000 will be incurred to process a new title.
The successful completion of these processes will ensure change of ownership and you will be noted as the new owner in the Registry in The Ministry of Lands.
As a final step, you can conduct a land search to make sure that your name is the one registered under that title number.
Do you want to own a Commercial Property for Sale Nairobi? Denver Real Estate will offer you professional help. Contact us: 0701 730 267.