How to Sell Your Land in Ghana
Has a family land been distributed evenly between you and your siblings and you are looking to sell your share? Or do you have a land you bought a few years ago but wish to sell now? We have done some digging about how to sell your land in Ghana and we will take you through the stress-free process.
You cannot sell your land in Ghana, or anywhere if you do not have the relevant documents that cover the land. You will need legal documents like indenture or lease agreement, land title certificate, EPA permit and more, without these, no one will agree to purchase your land. These documents is an indication of your ownership. If you are someone who wish to sell a land you have already bought, then you possibly already have these documents. Still, if this is a family land that you have been given a share of, you may need to go and register the land at the Lands Commission to possess the proper documents.
So the first thing you need to do when you decide to sell your land is to make sure you still have the relevant land documents, this will help avoid litigation and prove you are a trusted land owner. This also renders your documents admissible in court and enables you to develop a land market.
The next you need to do is to prepare transfer documents or assignment. The document should contain the property’s site plan, the lease duration, covenants, and other terms. You must also identify your buyer’s name and include your name as well. You should also detail the price of the land after proper negotiations, and the terms of purchase. You should discuss the mode of payment with your client. Hire a certified lawyer to assist you in putting together this sales and purchase agreement. After preparing and signing the document, the property is deemed to have been transferred from you to your client.
You are advised to give all relevant documents covering the land to the new owner right after making payment because they will need it in their registration process.
After the agreement is signed by you and your client, your lawyer will sign as well and witness from both parties, to show that there were people who were with you when you both made the decisions so that if any altercation occurs in the future, these witnesses will be called to give their unbiased opinions and an accurate account of how the agreement went on. Payment can now be made. You and your client should have decided the mode of payment, either outright payment or installment. For the owner, outright payment will favor you because you get to submit all documents to your clients, get your money and go your way. The latter will also do your client better because they can get the opportunity to clear any last minute loopholes while taking their time to make the rest pf their payment.
Once documents are signed and payments is completed, you no longer have ownership of the land. Before you sell your land, it is essential to do enough enquiries especially from real estate developers, how much your plots of land can go for, how much it is on the market, this way, you can know how much to sell your land to make a reasonable profit.
For individuals who wish to purchase a land in Ghana, it is crucial to also do enough research before buying a land, we have an article on it here on Asetena, You can read our articles about buying a land in Ghana, and if you want help with choosing the best places to buy a land to serve residential, commercial or industrial purposes.
Many people may think that selling a land means bringing the buyer to see the ground, letting them know how big it is, giving them fake assurances of it being litigation-free and receiving payment, after reading this article, you and I can establish the fact that, that ideology and practice is wrong. There are legal processes you need to go through, as stressful as it may seem, it is the correct procedure that would protect you and the buyer for a long time, but if you are a buyer who is uninterested in this process, you can go ahead and purchase a land without legal documents and face the consequences later.
If you still need more information about how to register your land to get the legal documents before selling it, please visit the Lands Commission, Ghana website www.lc.gov.gh or even call them on 050 323 9464
If you have some questions relevant to this article, leave them in the comment section below.