Rental contracts last for the duration of the advance payment,
usually one to three years. An option to renew can be included in the
contract.
If the tenant wishes to pre-terminate a contract, he must inform the
landlord three months in advance. In most cases, the tenant must look
for someone to take over the lease for the duration of the contract, or
wait for the repayment since the landlord may have invested or spent
the money already.
The Rent Act was passed to protect the tenants from frequent
evictions by the landlord, especially when the former are not able to
cope with incremental rent increases. Under this law, a tenant is
usually given time, usually three months, to find a suitable place to
relocate before being asked to leave. He can only be ordered by the
court to vacate the premises immediately if the landlord has
demonstrated that the property is required for his or his immediate
family’s personal use or that he wants to remodel and renovate. But
even then, the tenant must still be given time to find a suitable
place.
Thursday, 19 September 2013
Saturday, 7 September 2013
Guidelines to purchasing a property in GHANA.
There are no restrictions on
foreigners buying property in Ghana. However, different kinds of land, some of
which cannot be privately owned.
There are four types of land in
Ghana: Government Land, Vested Land, Customary/Stool Land, and Family/Private
Land.
To acquire Government Land or Vested
Land, an application must be filed with the Executive Secretary of Lands
Commission or the Regional Lands Officer, depending on the location of the
land.
Customary Land belongs to different
Stools in Ghana, who have the authority to grant the particular customary land
for which they are responsible. The 1992 Constitution states that there must be
no free hold interest granted in land.
Customary Land granted to private
individuals or families before the 1992 Constitution is now considered private
land. In this case, the buyer has to go directly to the owner of the land.
The services of a real estate agent
and a lawyer are needed in acquiring property. A title search is very important
to determine the ownership and kind of land the buyer is interested in. Once
all agreements have been settled, a Deed of Conveyance, or an appropriate
instrument of transfer (indenture), is prepared by the lawyer. Upon signing,
the title is transferred to the buyer, who, at the same time, pays for the
property.
The title is registered at the Lands
Commission Secretariat. Property registration takes around 382 days to
accomplish, with seven procedures.
Legal fees are regulated by the Ghana Bar
Association.follow us on twitter @ghpropertynet
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