Surveys and competitive platforms, have found that Optiven Limited is the go to company for investors in Real Estate. Why, when there seems to be so much happening within the sector? Three out of five investors with Optiven Limited have cited issuance of title deeds upon completion of purchase as a top reason for investment. Over the years, the Optiven Team has made numerous trips to deliver title deeds to customers in Kenya and the Diaspora.
Types of Title Deeds in kenya and transfer process
In Kenya, there are several types of title deeds that can be used to transfer ownership of property. The most common ones include:
- Freehold title deeds – These are issued for properties that are not subject to any lease or tenure, and the owner has absolute ownership and control of the property.
- Leasehold title deeds – These are issued for properties that are subject to a lease agreement with a landowner, usually for a period of 99 or 999 years.
So then what do you need to get your title deed?
With increasing interest in owning land and property in Kenya, there is a need to understand the new property registration process as outlined below. The new property registration process in Kenya through the ministry of Lands and Physical Planning in 2019 announced the new guidelines governing the property registration process.
The process of transferring ownership of property in Kenya involves the following steps:
- Obtain a search from the Ministry of Lands to verify the ownership of the property and to check if there are any encumbrances on the property.
- Draft a sale agreement that outlines the terms of the sale, including the purchase price and payment terms.
- Sign the sale agreement in the presence of witnesses.
- Pay stamp duty and any other applicable taxes at the Kenya Revenue Authority (KRA).
- Lodge the transfer documents, including the sale agreement, title deed, and land rent clearance certificate, at the Ministry of Lands.
- Obtain a consent to transfer from the relevant authorities, such as the county government and the National Land Commission.
- Wait for the transfer to be processed by the Ministry of Lands, which usually takes a few weeks.
- Collect the new title deed from the Ministry of Lands once the transfer has been completed.
Would you wish to own any of our properties? Get in touch with Optiven Today
Contact Optiven Group: 0790 300 300