All You Need To Know About Land Documents
Do you want to purchase a landed property in the city of Lagos? Here are the things you need to know about the documents involved in processing any landed property with DPKay Homes & Properties Ltd.
DPKay Homes is a reputable private real estate company that handles several real estate projects such as buying and selling of landed properties and already built properties. They offer real estate consultancy services, surveying, facility management, construction services and many more.
DPKay Homes has several lands for sale and they are in Estates such as; Bella Vista Estate, Sea View Estate 1 & 2, Comfort Zone Gardens, Lakeshore Gardens, Balmoral Estate, Queen’s Gardens and City View Gardens. These estates are very affordable and are extremely good real estate investments for anyone to feel safe investing his or her money in. All the properties are legal and genuinely documented. Below are the documents that DPKAY Homes provides for clients interested in investing in a property.
Proof of Government Excision
Government Excision is a document to proof that the landed properties has been legally handed over to Indigenous settlers and it is free from government acquisition. With a proof of government excision, processing C of O will be very easy to do. Processing excision documents take time and community consulting i.e. speaking with the Heads of the Settlement. The Head of the community who could be the Baale will forward excision application documents to the Land Use and Allocation Committee on the Community letter headed paper. The documents will be filed and given a file name while other monitoring procedures like Site Inspection will be carried out after some days. After days of inspection from government agency and the property is deemed satisfactory and has met all requirements, the technical committee will submit a report to the Governor’s office recommending for Excision Approval. Any property with government excision approval is safe for investing as you have rest of mind that the government would not intrude on the property for its use.
Deed of Assignment
Deed of Assignment is known as the most important document a land owner must have. It is your proof of purchase. Deed of Assignment is a signed agreement document that shows that the seller also known as the Assignor has transferred all his legal rights, title and interest of the property to the buyer also known as the Assignee. This document specifies the date at which the property is effectively transferred from the Assignor to the Assignee. It also states the exact description of the property being transferred like square metres of the land. Deed of Assignment documents is usually documented with Land registry as proof to the public that the property has changed hands. It contains specific information like the names and addresses of the both parties involved, the agreed cost of the land and the willingness of the seller to pay, the promises that both parties make to perfect the transfer of the document and the history of the land stating how it was transferred to the current seller. Most importantly, the document contains the signature of both parties and witnesses.
- Survey Plan
Surveys of lands are carried out to find out what purpose the land has been mapped out for the government. Survey plan is a primary document that all land transactions must have. Survey plan helps in giving accurate description of the landed property. It is prepared by a Land Surveyor. Survey plan of a land contains specific information about the property, such as; the title of the survey which is usually the name of the owner, the exact location of the land, the area of the land, the status of the land, the boundary of the land, the boundary beacons, the plan number, the bearings to the nearest minute of arc and distances (in metres), the surveyors address, seal and signature. A genuine survey plan should also contain a stamp showing that the land is free from government acquisition. Without the stamp showing it is free from government acquisition on the survey, the land is not safe for purchase. Having a survey plans saves you a lot of misunderstanding when it comes to identifying your property giving you more confidence about your property. Without a survey plan land buyers are at risk of losing their land to the government in the future as they will not be aware what the property has been mapped out for. With a genuine survey plan, a land owner can acquire loans and mortgage from financial institutions.
Receipt of Payment
Just as you get receipt for payment of items you purchase in the market, it is also very important to collect receipt for a land purchase. The receipt should contain the actual amount of payment made for the property. This is usually the first thing a buyer gets once he or she has made complete or paid in instalments for the land. Receipt of payment is free and it doesn’t come with extra charges. It is usually signed by parties, the seller and the buyer. As a land buyer it is advisable not to make payment of property with cash so as to avoid being scammed. Cheques and bank transfers are more appropriate as the seller can be easily traced in case of emergency. A receipt of payment should have the seller’s name or logo on it, the invoice number, the date the payment was received, the amount received and the remaining balance due.
DPKay Homes is a transparent company which any land investor should feel safe with. The company presently has genuine documents mentioned above for its landed properties. It is a company free of Omonile stress and you can be rest assured that its properties will not be invaded or taken over from the government. Investing with DPKay homes is safe and affordable. Investing in DPKay Homes promises to give you a high Return on your Investments. Smart investors are making smart moves; join the train.
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