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Buying land as a Group
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mozenrat
#1 Posted : Tuesday, September 22, 2009 12:40:00 PM
Rank: Veteran


Joined: 5/18/2008
Posts: 796
People,

I have this group of old ladies that is looking to purchase some land from an individual who is insisting on selling the whole piece as a block... they've been advised that to ease the process that they should nominate a few of them to carry out the transaction on behalf of the rest...

However,they need help in coming up with an agreement that will secure each of their interests once the deal is concluded i.e. at the point of splitting the land according to each person's contribution to its purchase. I have read of such arrangements in some of the threads here...

anyone mind sending me a sample of such an agreement? or advise on how to go about it?
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mozenrat
#2 Posted : Wednesday, September 23, 2009 7:06:00 AM
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Joined: 5/18/2008
Posts: 796
140 views,no replies....

come on people,share the knowledge
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Kamaa
#3 Posted : Wednesday, September 23, 2009 7:41:00 AM
Rank: Veteran


Joined: 10/6/2007
Posts: 1,177
Location: Nairobi - Kenya
why not get the sample of such agreement from a lawyer's office...?

Evil men understand not judgment: but they that seek the LORD understand all things.
When you hear what I say, you will not understand. When you see what I do, you will not comprehend
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Achiever
#4 Posted : Wednesday, September 23, 2009 1:31:00 PM
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Joined: 5/12/2009
Posts: 152


tafuta real shaft....




don't worry....be happy
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KURUTU
#5 Posted : Wednesday, September 23, 2009 2:14:00 PM
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Joined: 9/12/2006
Posts: 22
@mozenrat you should advise the group to engage the services of a lawyer to do the agreement for them. The appointed lawyer will draft the doc to their desired specs. You can try Dima on dimacadima@yahoo.com. He is based at Maendeleo house 9th floor. All the best
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a4architect
#6 Posted : Friday, September 25, 2009 2:44:00 PM
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Joined: 7/1/2009
Posts: 11
you can advice them to own the plot through the sectional property act which is less cumbersome-this is the law that is used to purchase apartment blocks,estates e.tc whereby you can own the 4th floor 3 bedroomed unit in a block of flats..

www.a4architect.com
www.prismafrica.com
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mozenrat
#7 Posted : Monday, September 28, 2009 9:58:00 AM
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Posts: 796
Will do.. Thank you people..
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lexxus
#8 Posted : Monday, September 28, 2009 1:23:00 PM
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Joined: 4/17/2009
Posts: 14
you need a lawyer in this. There is lawyer called Akunga momanyi and associates here in riverside at general conference building 2nd floor the buliding is opposite australian embassy. you can come to talk to him to know more this is free of charge but for him to document and such legal steps he should take def you will have to pay. but the good thing in the end you will your deal very clean.

Good luck


If you think ONLY money will make you happen think again.
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Phaoro
#9 Posted : Monday, November 30, 2009 5:02:31 PM
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Joined: 10/6/2009
Posts: 164
This type of business is better conducted through a lawyer. Matters of land can easily become problematic especially when you have many people involved as you describe. Without a Lawyer you will be lucky to have a consensus on the agreement. Good Luck.
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anasazi
#10 Posted : Thursday, December 03, 2009 7:29:07 AM
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Joined: 6/8/2007
Posts: 675
Nice, will look into the sectional property act... Was having this discussion exactly. Have bought some land as a group, and need to protect all our interests.
Form is temporary, class is permanent
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