Land as security for loan: the debt recovery options
An Agreement for Sale for land (including houses and buildings) [...]
FAQ
Most frequent questions and answers
Engage a licensed lawyer who specialises in Real Estate/Land transactions to guide you through the following before you make any payment or sign any document with the seller:
- Conducting due diligence on the property and the seller;
- Negotiating terms of the Agreement for Sale in your favour;
- Ensuring the Purchase Price will be held safely pending conclusion of the transaction;
- Ensuring you get a good title in the Property; and
- Obtaining a loan to finance the purchase.
Our legal fee is usually based on the value of the land/house.
In addition to the legal fees, the lawyer handling your matter will also discuss with you other incidental costs to the transaction including stamp duty and registration costs.
Ordinarily, registration of a transfer in land takes about a month. However, sometimes transactions delay depending on documentation required and other delays by government offices involved in the transaction.
The success of a case largely depends on the court findings of your facts and evidence as aligned with the laws of the land.
Cases are presented through documents filed in court and various steps done through submissions by the advocate. However, hearings/trials require the presence and testimony of the client and witnesses before the court, although lately these procedures are often done virtually.
The duration of a case depends on various factors including first, where the case is filed as some court stations are currently faced with the challenge of case backlog. Second, what type of matter it is whereby certain cases such as family matters move faster than others. In matters of urgency, a certificate of urgency is filed to enable the commencement of an action concurrently with the filing of the action.
To change your name on your identification documents requires the
registration of a Deed Poll. To register a Deed Poll, we require the following:
a. Letter from your area Chief;
b. Certificate of fingerprints; and
c. Relevant identification documents.
We prepare the Deed Poll on your behalf and lodge it for registration and
gazettement to enable you to officially change your names on your identification
documents.
The main forms of business organisations are: sole proprietorship, a
partnership (here there are various forms) and a limited liability company. Each form
of business organisation has its advantages and disadvantages. Therefore, when
choosing the correct form for your business, the core focus should be on personal
liability and tax implications. Based on the foregoing, we encourage our clients to
reach out to us so that we can advise them on the business organisation best suited
for their needs.
We assist you in drafting the necessary resignation documents including an
affidavit confirming that you are willingly and voluntarily resigning as director and
shareholder.
We lodge all the required documentation on the Business Registration Service and
liaise with the Companies Registry to effect your resignation. We thereafter conduct
an official search on the Company to confirm your resignation.