Securing Homeownership: The Correct Process of Land Acquisition | The Pyramid
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NewsTranscript
00:00 Westinglands and properties are one of the lucrative business enterprises in Ghana.
00:05 Notwithstanding the benefits of acquiring lands and properties in Ghana, it has its
00:09 own challenges.
00:11 Due to the uncertainty in land ownership system in Ghana, acquiring a land which is clean
00:16 and free from litigation and other burden can be very daunting.
00:20 It is therefore very important that the prospective buyer or investor undertake proper due diligence
00:26 to minimize the risk of entering into a fraudulent transaction.
00:30 Our discussion today is Land Acquisition - The Right Process.
00:35 Again you'll be telling us your story and your experiences by sending us a WhatsApp
00:39 on our WhatsApp line 050000018697.
00:49 The show takes a break, we return shortly.
00:55 Welcome back, this is your number one teleconstruction guide show.
00:59 My name is Emmanuel Owusu-Anson.
01:02 My guest today, a renowned property consultant, the managing director for Raybus Ltd here
01:08 in Accra, he is Mr. Wintemar Anibar.
01:11 So thank you for making time to join us on the show.
01:14 Thank you for having me.
01:15 To begin with, the conception.
01:17 Once an individual conceives the idea that I want to have a property, I want to own a
01:22 property, as an experienced consultant, what is the first step to be taken?
01:28 Yeah, as a consultant with such experience, I always advise anybody who has the intent
01:35 to acquire a property to do what we call due diligence.
01:40 Due diligence is very, very important.
01:43 Without due diligence, the probability of you losing your investment is very high.
01:49 So due diligence, you would want to work out through what due diligence is?
01:53 Yeah, due diligence is the processes that a person will go through to enable him not
01:58 lose his investment when it comes to purchasing a property.
02:02 And it's very, very necessary.
02:04 We have a lot of steps that you have to go through to enable you to go and you will not
02:09 have all those issues that people always get around.
02:12 But the story, as we know, trying to secure property, most importantly land, it has a
02:19 lot of terrible stories that we normally hear almost every day.
02:23 And why is it that it's still a challenge?
02:26 Yeah, it's a challenge because people are refusing to do the property.
02:30 People, you think the institutions, the government?
02:33 Yes, they are also trying to do their best, but their best is not always enough.
02:37 But they are also in the process of changing things to make sure that we'll be able to
02:41 do those due diligence in a fast and in a very short time.
02:47 Okay, now a bit of my reservation over these years, I've realised that it's always a call,
02:54 it's always an introduction to being told I've seen a property here, I've seen a land
03:00 here and the prospective buyer just jumps to conclusion.
03:05 Sometimes I feel they don't really have direction, it's just the availability of the property
03:10 and they wanting to buy.
03:11 Do you think it's right?
03:12 No, that is not right.
03:14 That is not right at all.
03:15 That is why I said we are supposed to always go through the processes of making sure that
03:20 nobody is taking your investment away.
03:23 You always ensure that you follow the steps of due diligence.
03:26 Okay, so I understand the due diligence, but the purpose for even the use of the property,
03:33 that's what I'm trying to hit at.
03:36 Probably the vision of which, you know, the person would want to buy the property.
03:42 Do you think every property should be bought?
03:44 Yes, that is also part of the due diligence I always talk about.
03:49 When you have the intent to purchase a property, first of all, what you are supposed to do
03:54 is know the exact purpose of that property, why you are acquiring the property.
04:00 So let's give an example.
04:02 If I'm acquiring a property for a hospital, I should be able to identify an area that
04:08 I will build up that hospital which will be beneficiary to me.
04:13 But you just don't go buy property anywhere and establish a hospital and at the end of
04:18 the day you fail.
04:19 So the first thing you have to know is where am I going to buy the property?
04:24 Which area do I want the property?
04:25 What exactly am I using the property for?
04:27 So when you know these things, it helps you to do your due diligence better and it helps
04:33 in you winning.
04:34 Now, the due diligence you've been talking about, who is supposed to do this due diligence?
04:39 Am I the assignee, sorry, the post person to visit this property, the land, to pick
04:47 my reconnaissance, then make the decision?
04:49 Or I need to employ the services of a professional to do this?
04:54 Yes, it involves a lot.
04:56 As you said, it will still require you getting a professional.
05:02 It will require you yourself also doing part of the work.
05:05 So let's say when you are doing due diligence, one of the things you have to look at is the
05:09 site, the actual location that you have been sent to, the physical location.
05:15 So immediately you are taken to the physical location.
05:17 The next thing you should think about is trying to get a surveyor to pick the cadness of that
05:23 particular property.
05:25 So when you get it, then you just oppose it with the site plan the assignee or the lease
05:32 has given to you.
05:35 So when you do the comparison, you are able to identify that, yes, this is the exact land
05:40 we are talking about.
05:41 It's not a different property we are here talking about.
05:44 So what you're saying is that we should never use the site plan of the assignee or the lease
05:48 owner.
05:49 We should never use that?
05:50 No.
05:51 We should always go for...
05:52 I always ensure that we go for our own surveyor who picks the plot and be able to work with
05:59 the cadness, create a site plan, then we can use it to just oppose what?
06:03 What is a site plan?
06:04 A site plan is basically a document that describes your land in cadness.
06:12 So it indicates that this is the cadness of the land.
06:15 And every cadness is unique on the mother earth.
06:18 It's very unique.
06:19 So if you have your cadness, it doesn't have another person also having the same kind of
06:25 cadness.
06:26 Cadness are always different.
06:27 So if I have my cadness and it's on my site plan, I should own it.
06:32 An example, you asked a question so I want to use this to answer that.
06:36 There was a law firm that brought a lady for us to check her problem.
06:41 Her problem was that she had acquired a property, she was given a site plan.
06:47 And this site plan, she had stayed on the land for like three years without any disturbance
06:53 until one day they came saying that this land belongs to us.
06:56 And she said, "No, this property, I acquired it, they gave me these documents and there's
07:01 nothing that shows that it's not mine."
07:03 So when it was brought to me and I heard the story, what we did was that we also went to
07:09 the site, picked the cadness of that land, and when we just opposed it with her land,
07:15 we realized that there were two different lands we're talking about.
07:19 So in this direction...
07:20 So clearly the site plans was for two different sites.
07:24 Yes, it was for two different sites.
07:26 So it means the lady, what they are giving the lady was wrong.
07:29 Was wrong.
07:30 She was paid for it and she was living on the wrong location.
07:34 But later on when we did our searches, we realized that her land was far from where
07:38 she was staying and a mox had been built on it.
07:42 So we had nothing to do.
07:44 So clearly she loses the case.
07:45 She loses the case in a way.
07:46 So that explains why you think we should have our own independence, we had to develop a
07:52 site plan.
07:53 Yes.
07:54 So for the purposes of following this program, terminologies like assigner and assignee
08:00 simply means that the assigner means the person selling and the assignee means the person
08:06 buying so that you can also follow the program.
08:09 Annabelle, now you've been talking about due diligence, the person going to the site to
08:16 understand and also see for him or herself what the situation is on the ground.
08:21 What is the usefulness of that?
08:23 It is very, very necessary because when you go to the ground, there are a lot of things
08:27 you can pick up.
08:28 In case you want to buy and have your residence, you should also know that most of our lands
08:35 are waterlogged.
08:36 So when you go to the site, you will be able to identify if the land is good for that purpose
08:42 or not.
08:43 So if you have an expert and you get to the land, one of the things you should be looking
08:46 at is the level of the ground.
08:50 If it is upper, that is very good, but if you are lower, the hill, that is very dangerous
08:57 for you because as developments come up, all the rains that will be coming from uphill
09:02 will come towards your place and you will start having waterlogged issues.
09:07 Certain things that people are also supposed to do is that when you even get to the site,
09:11 you should be able to look at the kind of plants that grows there.
09:16 Having the kind of plants grow there, you having that understanding, you should be able
09:20 to tell if it is waterlogged or not.
09:23 Okay, now that is the typical site reconnaissance, one would say.
09:29 And after that, what happens?
09:30 Can I go ahead then, issue the cheque, pay the money?
09:33 No, no, no, no.
09:34 I don't think at that level you are done with doing your due diligence.
09:39 One of the things you have to do is conducting searches at the appropriate institution, which
09:43 is the Lands Commission.
09:44 Where is the Lands Commission?
09:46 The Lands Commission, okay.
09:48 The Lands Commission.
09:49 If you look at the constitution, Article 258 has given the Lands Commission the power to
09:55 be able to administer all our land issues, public lands, all kinds of lands.
10:00 They have that power to do that.
10:02 So when you go on the ground and you are satisfied with what you are seeing on the ground, then
10:08 now you go to the Lands Commission.
10:09 You apply for a search.
10:11 First, when you apply for a search, the Lands Commission has different departments that
10:17 will give you a report.
10:19 Like we have something like Survey and Mapping Division will give you a search report.
10:24 Like the Land Title Registry will give you a report.
10:27 And the Lands Commission, TVLMD, that division also gives you a report.
10:31 But fortunately now, Lands Commission has been able to consolidate all the searches
10:36 into one.
10:37 It's a single search.
10:38 So immediately you apply, you just get a single search.
10:41 And the second phase of conducting the search is also to understand what the search is saying.
10:47 So you always need an expert who will be able to advise you, to be able to read and advise
10:52 you what you should do appropriately.
10:54 Because if you don't get an expert to do that, even the search report itself may mislead
11:00 you.
11:01 Why do you say that?
11:02 I say that because some of the recitals that comes with the search, if you don't read it
11:08 well, you might even think that you have lost the land for good.
11:11 But some of them, we have other ways we can go through it to still secure the land.
11:17 And they are very technical.
11:19 So this happens that if you want to talk about it, it will take a long time.
11:24 OK, surely we'll be having you for the weeks to come.
11:27 But let's talk about what most of the times we hear, official search and unofficial search.
11:34 And what is the difference between the two?
11:36 Yes, official search and unofficial search.
11:39 Official search is the process by which a person applies officially to the Lands Commission
11:45 for a search to be provided in respect to that property he or she wants to purchase.
11:52 But when you look at unofficial search, unofficial search is not acceptable.
11:56 It's not an acceptable practice.
11:58 Because this is the process whereby you go, you see people back door to go and look through
12:03 the Lands Commission books and be able to tell you whose name is there.
12:07 And even with that one, it doesn't come with details.
12:10 Because the search report must come with the date and all subsequent transactions.
12:17 But this one, they only write the last transaction for you, which can be misleading.
12:21 And I don't advise people to go for unofficial search.
12:24 Now, there are instances where the said name or the seller, that's the name, that's the
12:30 name I know, giving you the property.
12:34 You go, you do the search, conduct the search, and the name is far from the said person.
12:39 And sometimes too, even at the PVLMD and that of the survey and mapping, the names there
12:45 are different.
12:46 Yes.
12:47 Well, immediately you do a search and the names are different.
12:50 The name given to you on the ground when you went to do your personal investigations and
12:55 what you are getting from the search report, then it means that you have to move away from
12:59 it.
13:00 Now, the second question.
13:01 Yes, there are times that you do a search at the Lands Commission and survey, and you
13:06 see that the report are different, the names are different.
13:11 But with the name, it's being different.
13:14 It's not really a matter.
13:15 It all depends on the kind of transactions that have taken place on that particular land.
13:20 Let's come to think of it.
13:21 In case someone has property, go to Lands Commission, go through certain processes,
13:28 and his name is put in the records of the Lands Commission.
13:32 And he grants you that property for you to also have it as an assignment or a lease or
13:39 a sub-lease to you.
13:41 You go to Lands Commission to go through the process.
13:44 You will be required to go to the Land Title Division.
13:47 And as you go to the Land Title Division, you can also go through the process and plot
13:52 at Survey and Mapping Division, which will show your name.
13:56 And immediately it shows your name.
13:58 Your name will be at Survey and Mapping Division.
14:00 And the Lands Commission will also have your grantor's name.
14:05 In this instance, if you want to change your grantor's name at the Lands Commission, when
14:09 you are granted a certificate, you are able to go back to the PMVLMD of the Lands Commission
14:14 to plot that interest.
14:16 Immediately you plot that interest, then your name will cover whoever's name that was already
14:23 in the system.
14:24 Clearly understood, but there have been instances that I know, the person intending to sell
14:30 the land, claims it belongs to their family.
14:33 And probably you go, you see that at the PMVLMD.
14:36 But to the Survey and Mapping, it's another name.
14:39 I've been in that situation before.
14:42 And they are still making the claim that, look, this property belongs to us.
14:45 Our grandfather gave it to one so-so and so, so-so and so, and it was never surrounded
14:50 back, returned back.
14:51 So you can still go ahead.
14:53 Once you are lucky, you go ahead, you buy, and you are still safe.
14:56 You get to sit on the property.
14:57 Nobody disturbs you.
14:58 Yes, as I explained earlier, it happens.
15:02 It happens a lot.
15:04 You are given property.
15:06 But when you go to Survey and Mapping Division, you are seeing another name.
15:10 It is possible that somebody has also gone to the Land Title Registry with a document
15:15 trying to register their interest.
15:18 But when you are trying to register your interest, it is, what Land Title do is, they will always
15:25 make sure that they do an internal search at the Lands Commission to check if the name
15:32 corresponds with whoever is granting you that property.
15:35 And if the name matches, they will go ahead and give it to you.
15:38 But if the name doesn't match, they will still leave your name there and they will not take
15:43 it off.
15:44 What happens is that when another person also tries to register, what happens is that it
15:49 becomes a conflict and it becomes multiple requests, which we call at the Lands Commission,
15:54 a multiple request transaction.
15:56 That means two people are seeking to register one property, which the Lands Commission will
16:00 write to you to go through the right process to have that land.
16:04 It's either you talk to the person to understand each other, or you go to the court to get
16:09 your verdict and come back to the Lands Commission.
16:12 So our discussion today, land acquisition, the right process.
16:15 Be reminded that you can also join the conversation by sending us a WhatsApp on 0500-18697.
16:26 Let us know of your experience.
16:28 And also on Twitter, that is thepyramid_show, thepyramid_show.
16:34 Leave your comments there and we will be reading them.
16:37 And remember to follow us.
16:38 - Can I again go back to the Lands Commission and some of the wahalis that go on there.
16:43 There's been instances where the SINO gives you even the site plan, or probably you've
16:49 conducted, you've made your own independent site plan, and you go to the Lands Commission,
16:55 and at these various divisions, it's not registered.
16:57 There's no name to that of the land seller.
17:02 - Yes, because the person has not gone through the process trying to register.
17:05 - Is it safe to go ahead and buy?
17:06 - Yes, it is.
17:07 It is, depending on the other due diligence you are going to do.
17:12 You know, due diligence is not just based on one.
17:15 You have to make sure that all the steps you take, going to check with the site plan, when
17:21 you are doing your personnel checks, when you visit the Lands Commission for the information
17:25 you get, and when you get the district assembly information too, you put all together to determine
17:31 whether or not you should go for the property.
17:34 - Okay.
17:35 Okay.
17:36 So, you would want to tell us about the fees involved?
17:40 - I think I don't have them, Ofan.
17:42 - You don't have them?
17:43 - Yes.
17:44 But what we would like to also discuss in respect to due diligence is you doing it at
17:48 the district assembly.
17:50 This is a place that a lot of people don't know, and the people don't do.
17:56 Doing it at the district assembly helps you a lot, because it helps you to know if the
18:01 property was sitting in a road, it helps you to know if you are sitting on a sewage, it
18:06 helps you to know if that place is demarcated for maybe a hospital by the district assembly,
18:13 or maybe a playground or something.
18:15 So you just don't get that by seeing somebody saying, "I'm selling land," and you buy it.
18:20 What they always say is that land is not like tomato.
18:23 You go to the market and you see the market woman, you just negotiate and you pay and
18:27 you go.
18:28 Land, we don't do it that way.
18:30 You have to always make sure, because the courts will not stand by you if you don't
18:35 even do your due diligence.
18:37 - Okay.
18:38 So with the district assembly, what is the procedure like?
18:41 But then I wanted to ask, what is the duration for the search?
18:45 I mean, once you apply, you put in the application, how long does it have to stay?
18:50 - To be frank, we don't have a particular duration.
18:55 What happens is, when you apply, sometimes it takes about two weeks, sometimes it takes
19:01 about a month, sometimes it takes even longer, depending on the issues even the lands commission
19:05 is facing in respect of that property.
19:08 So there are searches that I have applied and for a year now I have not gotten them.
19:13 There are searches you do within a week, you get the results.
19:17 - Okay, thank you on that.
19:18 But you made mention of the district assembly.
19:20 With the land commission, we know we have to pick up the form or present site plans
19:26 with a few documents and we are there.
19:28 What is the situation with the district assembly?
19:30 - Yeah, with the district assembly, it's also the same thing.
19:32 You go with the site plan, then you apply and you go through the necessary process.
19:38 Sometimes they come to the site, come and check.
19:40 Sometimes even when they sit in the office, they are able to give you all the information
19:44 you need in respect to that property.
19:46 - Okay.
19:47 So at what point do I go into negotiating with the assignor?
19:51 - Yes, after you have gotten all the information you think that you are ready to go.
19:57 That is when you request to meet the assignor.
20:00 So in meeting the assignor, you are now having all the questions to ask the assignor.
20:10 So in this stage, you are making sure that you are clear with the size of land you are
20:16 purchasing.
20:17 You are also clear with the kind of instruments you are getting.
20:20 So when I talk about the size of land, you see sometimes somebody tells you, "Oh, I have
20:25 two plots of land which I want you to purchase."
20:28 But when you bring a surveyor to pick the coordinates, after you have your site plan,
20:33 you realize that even there's a reduction in the size of the plot.
20:39 And if the person started saying that, "Oh, you can take it for 20,000," then now that
20:44 you know that the land is not up to what he was saying earlier, then you can now do a
20:49 better bargain.
20:50 - So is there a debate?
20:52 Is there a standard size?
20:54 Some say 70 by 100.
20:56 Some are saying 70 by 70.
20:58 - It depends on the family.
20:59 It depends on who is selling.
21:01 So if I'm selling my land to you, I might say that 0.16 is one plot.
21:07 So it has now become a norm.
21:09 0.16 is now.
21:10 We are all saying it is one plot.
21:12 - But the government or the land commission is not specific what the size is?
21:16 - No, no, no.
21:17 It's not specific about that.
21:19 - But on the average, it ranges between?
21:21 - Oh, the 0.16 is now accepted.
21:24 - 0.16?
21:25 - Yes.
21:26 That's a plot of land.
21:27 - And that goes like 70 by 100 or 70 by 70?
21:29 - Yes, that's 70 by 100.
21:30 - 70 by 100?
21:31 - Yes.
21:32 70 by 100.
21:33 - Okay.
21:34 Thank you so much.
21:36 At this point, we'll be taking a break here.
21:38 We'll return with more for you.
21:39 (upbeat music)
21:42 Welcome back from the break.
21:49 It's now time for the interactive segment with Audrey Dushy-Kafui.
21:53 - Thank you, Manos, on our interactive segment for the day.
21:57 We're discussing all new experiences with regards to land acquisition.
22:00 You can share in your comments and experiences with us on WhatsApp at 0500-18697.
22:08 So we dive right into our comments.
22:10 So our first comment coming in is from someone, and he is asking, "If you acquire a new land
22:16 from traditional people, they give you allocation papers, signed site plan and receipts.
22:22 Is this enough documentation for any future litigation?"
22:25 And then moving on next is, "What of those already demarcated into plots whereby you
22:31 can't find their coordinates on this site?"
22:33 So that was coming in from Shadrack from Kumasi.
22:38 Next comment is, "Please help me in the land dimension of two plots, 800 by 800.
22:45 Good afternoon, sir.
22:47 Thank you for the education.
22:48 Please, how much does it cost to do a set, and how long does it take as well?"
22:55 Next comment from another person, "A family land was sold out to someone in 2008, and
23:01 he paid part payment."
23:03 He is here in the case we had given out the indenture to the buyer until now.
23:10 He hasn't paid in full.
23:12 What should the family do?
23:14 So, "Hello, if I want to buy shopping space out of a multiple owned by an individual in
23:22 the same building, what due diligence do I need to do?
23:27 Please."
23:29 You have a good program, and I want to add that your choice of surveyor is important.
23:33 We have official surveyors, staff of survey departments, licensed surveyors, retired senior
23:38 surveyors of SMD, and other surveyors with stated integrity, and so licensed to practice,
23:45 and others who are trained.
23:47 Others are also not trained and are called quacks.
23:50 I would suggest you look for a licensed surveyor because he is authentic - because he authenticates
23:56 the plan, and so he has the integrity at stake.
24:00 The second would be SMD staff that you can attest to their integrity.
24:05 Choosing the right surveyor will ensure that you have a good site plan.
24:11 Next comment, "Please, I acquired a land from a surveyor, but as it stands now, I can't
24:16 access the land because someone claims to also have documents of same land number.
24:25 And upon visiting the lands commission, I was told the said number hasn't been registered.
24:30 What should I do then?"
24:33 Good afternoon.
24:34 Please, I want to know.
24:39 "Please, my mom died leaving a plot of land inherited from his father.
24:51 Now this new chief from my grandfather's family is claiming ownership of the land,
24:57 the cocoa farm, his building, and other properties belonging to my grandmother.
25:02 What do I do?
25:03 I bought a piece of land at a jistle starting building to a lantern level, but I didn't
25:12 do any search and no litigations so far."
25:16 So then, that will be all for the interactive segment.
25:21 You can keep sending in your comments to us on WhatsApp at 0500 180 697.
25:29 Thank you, Emmanuel.
25:31 Thank you so much, Audrey, and the many people that sent in the messages.
25:36 Annabelle will be answering them.
25:38 Then again, you're also reminded to visit the Twitter page.
25:42 That's the Pyramid_Show.
25:43 Follow the page, like the page, and also leave your comment.
25:47 We shall be picking them.
25:48 Annabelle, quite a number of interesting submissions there.
25:52 I would want you to tackle the dead chief versus this new chief saga that's most of
25:59 the times happening in Ghana.
26:01 That story, that story is so disturbing.
26:04 You buy this new chief and it's almost as if you have to go see the new chief settling
26:09 before you can have access to your property.
26:11 Yes, that is the issues that are happening on the ground, which is quite unfortunate.
26:19 When the Alodia owners have their property, most of the time they are known to be the
26:25 property owners.
26:27 And when the head passes away, you see that the siblings start to go apart and fight each
26:33 other.
26:34 So this one says, "I'm the one who is supposed to inherit."
26:38 This one says, "I'm the one who is supposed to inherit."
26:40 So the person with the greater number of land guards takes over the land and they start
26:47 to sell.
26:48 So in the absence of that person, another one also takes over to do that.
26:52 And this has been an issue.
26:55 But luckily, when you look at the new Land Act, which is the 2020 Act, it has come to
27:03 solve most of these issues, which Lands Commission is in the process of implementing them one
27:10 after the other.
27:11 I believe that very soon, these things are going to be the thing of the past.
27:15 Okay.
27:16 There were quite a number of questions that were asked.
27:18 I'll give you some brief time to answer them.
27:22 I think there was a question that was asking no-code-ness on his site plan.
27:28 It is very unfortunate because if you have a site plan which has no-code-ness, then it
27:33 is an issue.
27:34 It's an issue because we will not be able to locate that property.
27:40 There is no way we can locate it.
27:41 It's just like you losing your phone number and being not able to recollect it.
27:48 The only way we can do that is going back to the site with the instruments to pick the
27:53 coordinates, then the system will create a new coordinate for you.
27:58 There was this other question.
27:59 He said the size of the land is 800 by 800.
28:01 I only believe as in feet.
28:03 He was saying 80 by 80.
28:04 80 by 80.
28:05 Yes.
28:06 He was saying 80 by 80.
28:10 That is why I said that.
28:12 It depends on the person selling the land.
28:14 I have five acres.
28:15 I want to sell it.
28:16 I have decided to demarcate it 40 by 40 and sell.
28:19 But that's not fair.
28:20 30 by 30.
28:21 Don't you think it's high time maybe the government take a stance and tell us what the dimension
28:26 of a plot should be?
28:27 I disagree with you when you say it's not fair.
28:30 Because when I'm buying land that is 30 by 30, my consideration will be less.
28:34 I will be paying a lesser consideration.
28:36 If it is 40 by 40, I will be paying a little bit higher.
28:39 When it is 50 by 50, 60 by 60.
28:41 So it depends.
28:42 If you are not able to negotiate well, that is where the issue is.
28:46 Okay, so the consideration simply means that's the selling price for the property, the consideration.
28:52 Now, Anabah, we were on the subject that is negotiation.
28:56 And at this point, I'm asking what are some of the factors that will influence the consideration?
29:02 As I said, when you are negotiating, one of the things you have to look at is the size
29:07 of land.
29:08 Because if you know the size of land, then you know the consideration that you intend
29:13 to pay.
29:14 And secondly, you have to also know the kind of instrument you are receiving.
29:18 The instrument is what we call indentures.
29:23 And indentures is just a generic name of what we call an assignment, a lease, a sub-lease,
29:30 a conveyance, all those ones are all instruments.
29:35 But most of the time, we just use the word indenture, indenture.
29:39 But indenture is just a generic word.
29:42 So let's say if I know I'm getting an assignment, and the assignment is also transferring to
29:48 me only 40 years, then I know that I'm negotiating for 40 years' time to be on that land.
29:55 So it helps me knowing the size and knowing the duration I have on that particular land.
30:02 Because immediately your duration ends, it reverses back to the original owner if it
30:08 is an assignment or even if it is a lease.
30:11 It goes back to the loader owners.
30:13 But you agree with me that most of the times, what happens is that the properties are for
30:21 sale, they go into negotiation with the assigner, not even understanding the number of years
30:28 they are being given.
30:29 Probably the person acquired the property and has stayed on the property for about 50
30:33 to 60 years, and the lease period was somewhere around 99, bringing it to, that is making
30:39 a deduction of almost about, bringing it to 29 years.
30:42 Now it's 29 years, and the said person is selling it to you, and people do not study
30:46 these details.
30:47 All they think is, "Okay, I'm buying the property, and that's it."
30:50 And that's why you're trying to say it has an influence on the consideration, that's
30:54 the selling price, right?
30:56 Right.
30:57 Right.
30:58 So in explaining further, if you are acquiring a property, the duration is very, very important.
31:05 That is going to determine how long you are going to be the owner of that property.
31:09 So if a document is given to you, and you don't go through the document well, you end
31:16 up buying something that you don't even know the duration.
31:19 There was a time I had such client coming to me with an indenture of a land he had purchased,
31:28 and he had paid everything, he had started developing.
31:31 But when I saw the document and I started reading, I realized that he was only getting
31:36 45 years.
31:37 So I asked him, "Why are you getting only 45 years?"
31:40 He said he didn't even know.
31:42 He don't know.
31:43 And I said, "Wow, now you have to assign to it.
31:46 As far as you have executed it, there is no way you can go back.
31:50 It means you have agreed with the terms and conditions of the instruments."
31:54 So let me help you understand this better.
31:56 Assuming you're buying a property within the prime areas, an example being Cantume,
32:01 so you're talking about the airport areas, and it's just left with a lease of about
32:06 10 years, and you're buying it for a million dollars, it's not for the fact that it's
32:10 in the prime area, so $1 million is fair.
32:13 It's just not fair.
32:14 You need to pay attention to the number of years left for you to stay on that property.
32:20 And Anabat, you mentioned to us that the document, but from what I understand, most of us think
32:26 documents should be given to us after payment.
32:29 But you've made it known to us that we need to ask for the document concerning the land,
32:34 study it, read the recitals, the schedules, then know even the number of years left to
32:40 vacate the property.
32:41 Yes.
32:42 What document is that?
32:43 I don't intend today to go too much into documentation, which may be the subsequent
32:48 programs we will have.
32:50 But if you look at an example, a lease.
32:54 A lease is a document that always has two different parties.
32:59 The person, the leasor, and the leasee.
33:02 So you see the leasor's name and the leasee's name.
33:05 And you see the recitals.
33:07 The recitals will indicate who it is coming from.
33:11 Is it a family?
33:12 Is it a school?
33:13 It will all indicate in the recitals.
33:16 And it will also indicate what we call the schedule.
33:19 The schedule is written in English off your site plan, bringing it into words.
33:27 So the coordinates and everything, the direction, the size of the land, all being put in plain
33:33 words for you to be able to understand.
33:36 And one of the things you must also ensure you have it in the lease is where you execute
33:42 where the two parties are going to execute.
33:44 Put their signatures.
33:46 Because if you don't put your signatures, you don't bind it.
33:50 So to be able to bind it, then you have to put your signatures and you should have witnesses.
33:55 And after that, we have the auto-proof page.
33:57 Wow.
33:58 Now you're going to, I mean, it's getting detailed.
33:59 I mean, we'll be looking at it come next week.
34:02 We'll be talking about, I think what the fact is, you've told us you need to consider the
34:07 number of years, lease years, and also the location.
34:11 Any other thing we need to know?
34:12 Yes.
34:13 You have to also look at what is already on the property before you are purchasing.
34:17 An example can be if there is something like an existing building, you should take into
34:23 consideration that when you purchase and you are now to put up whatever you intend to,
34:31 you have to demolish.
34:32 And the cost of demolition is not a joke.
34:35 So most of the time when you are negotiating and the person has an existing property, all
34:40 you do is that you get a qualified technical person to go and do your technical things
34:48 to indicate how much it will cost you to demolish such a property.
34:53 So that when you are bagging in, you'll be deducting the amount from your consideration.
34:58 Thank you so very much.
34:59 At this point, you can also call and be part of the show.
35:02 The numbers on your screen are 0302 21 16 91, 0302 21 16 91.
35:10 I was just coming to the question of all these technicalities you're telling me.
35:14 I mean, this is just too much for me to comprehend.
35:19 Why not the service of a valuer?
35:21 And why would I need a valuer at the point of, you know, considering the consideration?
35:28 You need a professional, not just a valuer alone.
35:33 You would need an expert.
35:35 I'm sorry to break you, but let me go on to the phone.
35:38 Hello?
35:39 Yeah, hello.
35:40 Yes, your name, where are you calling from?
35:42 Yeah, please, this is Keilani calling from Thakrani.
35:45 Thakrani, talk to us.
35:46 Okay, earlier I sent a message and it had to do with me acquiring a land from a surveyor.
35:57 And then afterwards, after visiting the site, I realized someone also has documents bearing
36:03 the same number as mine.
36:06 And I visited the land commission and then I was told that particular number hasn't been
36:10 registered.
36:11 So I started with my registration.
36:13 But as it stands now, the fellow is trying to make things violent.
36:19 So I want to find out whether it is possible me demanding for a new parcel from the surveyor
36:24 or demanding for my money back because it's been two years now and I can't claim ownership
36:29 of the land.
36:30 Okay, thank you, thank you.
36:33 Anabah?
36:34 Okay, my advice would be that, first of all, I think you do not do your due diligence work.
36:40 First of all, you are buying a property from a surveyor.
36:45 Who is a surveyor?
36:46 Is he the owner of the land?
36:49 Is he part of the school or the family that owns the land?
36:55 So you should have known all this.
36:56 You just don't buy land from people who stand in.
36:59 You should make sure that the name that is transferring the land to you is the person
37:03 you are dealing with or somebody who has power of attorney to act on that person's behalf.
37:09 That is the thing that we have to always do.
37:11 But in going straight to your point, what I will advise you is if the person is ready
37:16 to change another land for you, take it.
37:21 But this time, do the proper turn.
37:23 Just try to make sure that you conduct the searches and be sure that it will go through
37:27 so that you don't have any issues again.
37:30 So let me pick Martin, but my next question would be when somebody stands in, is there
37:35 any documentation they have to present in dealing with the, that's a sign in.
37:40 Hello Martin.
37:41 Hello, good evening, boss.
37:42 Good evening, sir.
37:43 Please, I'm calling from Asante Mampong.
37:46 My name is Martin Asante.
37:47 Okay.
37:48 Please, we have a land at Asante Mampong and then we want someone who can just do this
37:54 for us so that we go to negotiations and then we will know the years or maybe we want to
38:03 know the years, maybe they will just give it to us.
38:06 Thank you so much, Martin.
38:07 So Martin, you get to call us after the show.
38:09 We can look at that.
38:10 Thank you so much, Martin.
38:12 So Anubha, I'm talking about an event where there's somebody standing in for the family
38:17 or the assignee.
38:19 Is there any documentation you need to see?
38:23 At the first instance, you don't need any documents.
38:26 The person who takes you to the land to show you this is the land, that's at that point
38:30 it's okay.
38:31 But immediately you get to many issues, negotiating table.
38:36 You have to make sure that you are understanding what you are doing by asking even the person
38:44 who sits in there, can you show me an ID to make sure that I know who I'm talking to,
38:49 I know if he's the rightful person.
38:51 If he's not a rightful person, then he must show a power of attorney to be acting on behalf
38:57 of the rightful person.
39:00 Okay.
39:01 Hello?
39:02 Stephen.
39:03 Hello, Stephen.
39:04 Yes, sir.
39:05 Yes, Stephen from AHAFO, please go on.
39:06 I just want to be helpful with this.
39:07 I bought the land in that franchise from a chief.
39:08 And later when I went to the land permission register, we were told that the land was a
39:09 name of his own.
39:10 But the chief also told us, so he came back to the chief and he pointed out and he told
39:11 us that yes, it's true, but the government has given that portion to the rightful person.
39:12 So I'm not sure if that's true.
39:13 But the chief also told us that it's true.
39:14 So I'm not sure if that's true.
39:15 So I'm not sure if that's true.
39:16 So I'm not sure if that's true.
39:17 But the chief also told us that it's true.
39:18 So I'm not sure if that's true.
39:19 So I'm not sure if that's true.
39:20 So I'm not sure if that's true.
39:43 Thank you.
39:51 What you have to do is that whatever documents he has gotten from government, because he's
39:56 telling you that government has released those portions to them.
40:01 So definitely government will not use just saying it to them.
40:06 Definitely there will be a document that indicates that this portion of land is released back
40:11 to their family.
40:13 So that's when you see it, you get an expert to look at it.
40:16 And if it is the right document, then we'll be able to go through.
40:21 Our next caller from Kumasi, Shadrack.
40:23 Hello, Shadrack.
40:24 Yes, hello, sir.
40:25 Good afternoon.
40:26 Good afternoon, Shadrack.
40:27 I have two questions and one that I really want to try to answer.
40:28 The first one has to do with I bought the land in Kumasi and there happened to be a
40:29 leak for 15 years on the land.
40:30 And the person reapplied the, what do you call it, the documents to me.
40:31 And the person reapplied the documents to me.
40:32 And the person reapplied the documents to me.
40:33 And the person reapplied the documents to me.
40:34 And the person reapplied the documents to me.
40:35 And the person reapplied the documents to me.
40:36 And the person reapplied the documents to me.
40:37 And the person reapplied the documents to me.
40:38 And the person reapplied the documents to me.
40:59 And the person reapplied the documents to me.
41:23 And the person reapplied the documents to me.
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42:20 And the person reapplied the documents to me.
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42:22 And the person reapplied the documents to me.
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42:24 And the person reapplied the documents to me.
42:25 And the person reapplied the documents to me.
42:26 And the person reapplied the documents to me.
42:27 And the person reapplied the documents to me.
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