Tuesday, September 4, 2012

7 Basic Steps to Successful Buying Land in Ghana

Whether this is your first time making a land purchase, or if you own properties in different locations throughout the world, buying land in Ghana can be a very attractive option and challenging. While Ghana does not maintain any restrictions against foreigners purchasing land, there are several principals that need to be understood so that you can successfully buy land in Ghana. As a brief overview, these include:
  1. Verify land ownership
  2. Check with the Land Commission to find out who truly owns the land
  3. Check seller’s reputation
  4. Find out whether the land is a leasehold or freehold
  5. Ask for a transfer of ownership process
  6. Check the cost to transfer and register the land at the court
  7. Verify lawyer fees if any
In order to help you understand the process a little better, there are also certain concepts that you need to understand.

Land Ownership

The constitution of Ghana was approved in April of 1992. According to this constitution, all public land was vested in the President on behalf of the people. Prior to this time, Customary Land had been granted to individuals and families. Customary Land is now considered to be private land. If you want to purchase private land, it is necessary to talk to the individual who owns it; otherwise, all land is purchased from the government.

Ghana Land Freehold vs Leasehold

There are distinct differences between leasehold and freehold land. When someone owns freehold land, they have exclusive rights to the land as well as the building or home on that land. Contrastingly, purchasing a leasehold property means that you purchase the rights to the building or home on a given property for a certain amount of time – several decades, usually – but the actual land does not belong to you.
These are a few of the most important things to understand when you are in the process of purchasing property in Ghana. By following these seven steps, you will find that the purchasing process goes much more smoothly.

What's your Ghana land buying experience? Leave a comment below.

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