Real Estate

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...

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...

... “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...

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...

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...

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...

The Physical and Land Use Planning Act, 2019 (previously Physical Planning Act (Cap 286) now repealed) change of use: “The owner of Plot LR NO.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...

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...

When you see the word debt, what comes into your mind? Is it the HELB loan, the soft loan you took from a friend, the goods unpaid for in the shop in your estate, mortgage or that credit card debt that keep following you? We have two forms of debt that are fundamentally different and can never be painted with the same brush. Read on and you might discover how debt can actually be good for you, when...

Leverage (debt) magnifies outcomes. What does this mean? To illustrate how leverage works in a real estate investment, we'll take the following investment parameters (The figures are hypothetical but not so far from reality, just to put the points across): •Construct 5 units for sale each at construction cost of 5M (inclusive of land) •Financing at 14% interest (service interest during...

When it comes to Real Estate Investment, it is often said that the secret to success is location, location and location. Where you invest is generally more important than how much you invest. There is a very strong link between where your real estate investment is located and the financial success you will enjoy. There are several examples of individuals with access to a lot of money and who also...