Republic Bank JoyNews Habitat Fair: Be careful during land purchase – Lands Commission to prospective homeowners

The Lands Commission has advised prospective homeowners to undertake comprehensive due diligence before buying land, warning that not verifying ownership and registering the land could put buyers at risk of fraud, double sales, and costly legal disputes. The Commission is attending the JoyNews Habitat Fair and stresses that prospective homeowners must verify land ownership, conduct searches, and ensure transactions are properly registered before proceeding with their purchase.

Surv. Raphael Hokey, Acting Deputy Executive Secretary in charge of Operations at the Lands Commission, advises buyers not to treat land acquisition as a routine purchase due to the significant long-term financial implications. He emphasizes the importance of conducting due diligence, which includes visiting the land, requesting the site plan, contacting the Lands Commission for a search, and gathering other relevant information.

Mr. Hokey notes that land ownership in Ghana is largely customary, with about 80% of the land held under customary ownership, and that buyers must be certain they are dealing with the rightful owner to avoid potential issues. He warns that buyers should be cautious of sellers who refuse to provide site plans before payment, as this is a strong indicator of possible problems.

Mr. Hokey also cautions buyers not to start construction on land before completing all necessary legal and regulatory processes, as acquiring land alone does not grant the right to build. He reminds landowners to register their property after acquisition, as registration provides a clear record of ownership and safeguards buyers from future claims.

Non-registration could result in lengthy legal battles if the property is later sold to another party. The Lands Commission's presence at the JoyNews Habitat Fair, along with financial institutions, developers, and other industry stakeholders, aims to provide prospective homeowners with essential information on land acquisition, property registration, financing, and other crucial steps towards secure home ownership.