Knowing the right document before buying a landed property is very important, in as much as real estate is a very lucrative business some people have taken it as an opportunity to defraud people of their hard earn money. In other not to fall victim for such people it is very important to investigate properly necessary document a land have before buying it, if possible get a property lawyer and a surveyor to help verify the authenticity of the land. Some of the document to ask for before buying a land is listed below
RECEIPT OF LAND PAYMENT: after complete payment for the land, a receipt must be issued to the buyer by the seller stating the amount the buyer paid. Receipt of land payment serves as evidence of payment, incase if there is a problem in the nearest future, the receipt must signed.
DEED OF ASSIGNMENT: This is a document issued by the seller transferring ownership of the land to the new buyer after the buyer has made a complete payment and other necessary charges of the land. The document must be signed and stamped by both parties, also the deed of assignment must contain the location of the land, size of the land, cost of the land, layout plan, Survey plan, and the plot that is being assigned to you.
CERTIFICATE OF OCCUPANCY: This is a legal document issued by the state government to landowners as proof of ownership. Certificate of occupancy best known as C of O is the most important document every landowner must have, and also the document every potential land buyer should ask for before buying a land. However, even if the land has a C of O, it is of great necessity to still verify from government authorities about the authenticity of the land. One of the major purposes of C of O is to ascertain if the land is suitable for human occupancy.
SURVEY PLAN: A survey plan is a registered plan showing the total measurement of the land, and may include, the area, size, and distance of the land. A survey plan help differentiate your land from other landowners that have landed within your land location. But in the case when you are buying from a real estate company, ask for a layout plan, this helps to indicate where a plot of land will be allocated to you within an estate.
EXCISION DOCUMENTS: is a document showing that a land has been released to an individual or a company by the government, this document actually shows that the land is free from government acquisition and the landowner can go ahead and get a proper title for the land such C of O.
POWER OF ATTORNEY: A power of attorney is usually a stamped document authorizing one person (the donor) to do everything that another person (the donor) can legally do in connection with his or her behavior. Because it is a delegation tool, it is usually required when one person is acting on behalf of another.
In conclusion, it is very important you verify every land you are buying, in other not to be defrauded of your hard earn money. if possible get a reputable property lawyer and a surveyor to help you with your land purchase.
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