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The power of financial education – By Mwalimu SG Njenga

I have taken a keen interest in acquisition and dissemination of financial education. It is rather obvious that the biggest handicap to most people achieving financial freedom is lack of financial education. We have people all over who are keen to invest and start business but the truth of the matter is that 90% of the business started fail within the 1st 5 yrs of operation. More often than not, we are...

Activating that financial genius in you

Note: We will get practical in this journey to financial education. For now we are just dealing with basic but very important concepts. We’ll also be relating to the Kenyan scenario(s) so as not to sound theoretical. Just to caution readers that I have a bias to real estate and most of the topics will revolve around it in future. However, other important topics like financial planning, chamas, Life...

What is a FAKE TITLE DEED?

A deed is a signed agreement especially about the ownership of property or legal rights. A Title deed is a legal document providing somebody’s right to property and subsequently ownership. Then what is a deed plan? This is a signed plan by the Director of Surveys showing the precise particulars of a surveyed piece of land. It shows the details as in the shape of the plot, the distances and bearings...

Understand that agreement before you sign it: Part 1

I signed that agreement and I never really understood most of the clauses therein. This is a common issue with most land purchasers. Did you know in the unlikely event of failure to complete a land purchase transaction and in the event of failure to resolve amicably any issues that may arise, the recourse the purchaser or the seller have will be based on the content of the agreement. Let us try and...

Understand that Agreement: PART 2

Continued……….. “The sale is subject to the Law Society Conditions of Sale (1989 Edition) in so far as they are not inconsistent with the conditions in this agreement.” The LSK Conditions of sale (1989 Edition) are boiler plate set of conditions to aid in drafting of agreements and guide the sales and conveyancing process. They outline how critical matters are to be dealt with...

The subdivision Process

We shall base the info herein on a subdivision of a freehold title. Before you subdivide any land, you must get the consent to do so from the Land Control Board. Ideally the consent is issued upon the proprietor appearing before the Board. Notice that all land transactions are controlled. However, we all know that in Kenya, we may not necessarily appear before the board, but we can get what they call...

Plot sizes and Tenancy

If you look at a title deed, you’ll notice that the approximate area of the plot/land is normally in hectares. 1Ha = 2.47105381 Acres = 10,000 Square Meters 1cre = 0.404685Ha 1 Meter = 3.2808399 feet Having understood the above, what is a 50 * 100? This is usually in feet. If you look at a plot that is 50*100 (exact measurements), then the same would translate to...

The procedure for lease renewal at the expiry of 99years in the case of a leasehold title?

Just before the expiry of your lease make sure you write a letter to the Commissioner of Lands informing him that you are the current holder of the lease and you are requesting for its renewal. You also must undertake to pay the charges attributable to the renewal. The letter will be filed at records and a request dispatched to the land officer of the respective land registry where the Certificate of...

Change of Use and Controlling developments

The Physical and Land Use Planning Act, 2019 (previously Physical Planning Act (Cap 286) now repealed) change of use: “The owner of Plot LR NO. AAA/AA located wherever is proposing to change the use from agricultural to residential (multi-dwelling) subject to approval by AAAA Council. Individuals, institutions etc. with objections to the proposal are requested to forward them in writing within fourteen...

Of minors and registration of land in trust

You probably don’t trust your wife/husband that much and you think it is wiser to register that property in the name of the kid. In the new act (Land Registration act 2012) the issue of minor’s registration is dealt with in section 47: “The name of a person under the age of eighteen years may be entered in the register to e n a b l e the minor’s interest to be held in trust and shall be...

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