Investing in land can be extremely lucrative in certain cases only. First-time land purchasers will typically check on: “Is the title unencumbered?” “Is it allowed to build on this land?” “Are there any further legal or government permissions required?” This post lays down the list of duties each potential buyer should check before putting down money to ensure an easy transaction and to greatly lessen their chances of having to endure unwanted expenses later on. 1. Check Land Title & Clear Ownership The first thing to check is the title of ownership: Full clear title means the person selling the land has full legal rights to it and is able to transfer the same to you. These papers should be at your disposal: Recent 7/12 Extract or equivalent ownership document Record of Rights (RoR) Encumbrance certificate showing the land is free of loans or legal claims Tip: It is always better to have a lawyer review all documents before you make any payments. 2. Confirm the Land is NA (No...
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