Investors in real estate know that it is not enough to pay the purchase price of property in real estate transaction. The purchaser must go further and register the property to ensure his title is secured.
BELLOW ARE TIPS ON HOW YOU CAN GET YOUR PROPERTY REGISTERED IN NIGERIA
1. Get the transfer of title documents -the first thing you need for registration of property in Nigeria is the transfer of title document like the Deed of Assignment, Irrevocable Power of Attorney, Deed of Gift etc. The transfer of title document must be dully executed by both the vendor and the purchaser in the presence of witnesses and in some cases in the presence of or before a notary public or a commissioner for oath.
2. Get a Survey plan – another vital document needed for registration of property in Nigeria is the survey plan. Where the land has no survey plan you will engage a surveyor to get it done but where there is a survey plan already available all you need do is apply for change of name using the transfer of title document.
3.Get Affidavit of Attestation – in some states before your property will be registered you must file Affidavit of Attestation from the witnesses testifying that they were presence when the transaction occurred.
4.Get your tax certificate – the registration authority will like to see that you have been up to date with your tax obligation so you need to obtain tax clearance form make the required payment to get your tax certificate.
5. File the documents in the land ministry – the next stage to get your property registered in Nigeria is to approach the ministry of land or other designated authority depending on the state, obtain registration forms. Fill it and file all the already mentioned documents .
6.Make the necessary payment - registration of property in Nigeria is done for a fee. The payment varies from state to state and in most cases payment is Ad Valoram.
CONCLUSION
After the registration you may proceed to apply for a certificate of occupancy or right of occupancy depending on the location of the property . It is only after successful registration of the property that you can be sure that your title is secured.
