Trying to Figure out the Land Documents To Check When Purchasing Land?

Becoming a landowner in this present day comes with its perks and downsides, especially with the issue of land grabbers popularly known as “omo-onile”. Prospective landowners have become increasingly skeptical of whom to trust when buying lands and the lack of sufficient information exposes them to potential scams by illegal sellers. 

As a prospective landowner or investor, trying to figure out the important documents to check when purchasing land does not have to be a hassle.  In this article, I will dissect vital land documents to check as a prospective landowner.

DEED OF ASSIGNMENT

A deed of assignment is a legally binding document that transfers the full ownership of land from the seller (assignor) to the buyer (assignee). This document shows that the seller has no further claim to the land because the full rights to the land have been transferred to the buyer, this gives you less worry about land grabbing in the future. 

CERTIFICATE OF OCCUPANCY

One of the most popular land documents given to a prospective landowner is the Certificate of Occupancy (C of O), despite the document’s popularity many don’t know its essence and significance. A Certificate of Occupancy is a legal document showing that the buyer of the land has been given full right to the land by the state governor. It is in tune with Section I of the Land Use Act which vests all land in a state in the governor of the state.

REGISTERED SURVEY PLAN

The registered survey plan is one of the vital land documents to check as a prospective landowner. A survey plan is a document that describes and measures the land you intend to buy precisely. It includes the coordinates and boundary of the land, alongside the size of the land and its location. The survey plan also helps identify government-committed lands, which government authorities allocate for unique purposes such as government offices, schools, etc. The best part about a registered survey plan is that you can verify it at the Office of the Surveyor General or Ministry of Lands. 

OFFER LETTER

An offer letter confirms the buyer’s land purchase request, it is distinct from a receipt. It includes the land location, total cost of the land, detailed address, and payment period. Terms and conditions may be included, this is subject to the organization’s policies.

LAND RECEIPT

A land receipt is another important document you should ensure to look out for when buying a landed property. It indicates the receipt of payment for the land you have purchased from a real estate company or realtor. The things a receipt consists of include the name of the seller of the land, the buyer of the land, the amount paid by the buyer, the location of the land, the date of the payment, and the size of the land you are buying amongst others. Make sure to note the receipt’s details because they can vary depending on the seller, but do keep the above-listed elements in mind when you receive your receipt.

CONCLUSION

In conclusion, these vital land documents are your compass to land ownership. Ensure thorough due diligence and verify document authenticity when purchasing land. Keep in mind, that this document’s specifics may vary among real estate companies. Feeling uncertain about your path to land ownership? Connect with us via social media, and let us guide you to becoming a proud landowner.