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Is Dividing a 100x100 flat plot by three wise?
Rank: New-farer Joined: 1/4/2013 Posts: 35
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Okey new &small money describes me at (26yrs).I want to start building my home next year. since I have very small money I was thinking dividing a 100x100 plot between three of my friends to easen the burden of purchase would it be possible to build in the resulting plot...30X100? has anyone built in such so i can see practically?
Many thanks
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Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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Subdividing means getting individual titles.Is that size allowed in your area? Not heard of 30 × 100 except in commercial plots. 2 (50×100) sound ideal and will give you room to be creative on the design. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Member Joined: 6/17/2010 Posts: 572
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Go vertical, get your pals to share your building idea then form a holding company and list you and your pals as the directors, transfer the title to the company, build a two storey apartment where you and your pals will have a floor each then register each floor under the sectional properties Act, each of you will get a title then you can kill the company or let it run to manage the common areas 'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
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Rank: Member Joined: 8/16/2012 Posts: 660
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Have you been to Mwalimu @Marty's thread ? Here: The power of financial education:Of Certificates and BallotsQuote:I have also witnessed interesting cases especially in Ruiru (Murera Area) where guys subdivide land into tiny plots measuring 60ft by 40ft and sell using certificates. What purchasers should know is that you can never get a title with that size of a plot around that area. In fact the smallest piece you should buy must be a minimum 40ft by 80ft or equivalent area. My advice is that we avoid these certificates at all cost. There is a trove of info in that thread you will be forever grateful to ever come across. Please take your time to go through it. It will provide answers to questions you haven't even asked. Many Wazuans will echo that am sure. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Veteran Joined: 2/3/2010 Posts: 1,797 Location: Kenya
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you can put all your 3 names in the title. But the resulting plot will be sufficent for a small house with small yard esp if you do one story I may be wrong..but then I could be right
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Rank: Veteran Joined: 4/4/2007 Posts: 1,162
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remember subdivision means you have to allow for access roads and other services wayleaves. even if it was possible to subdivide a 100x100 plot, it would be a challenge to provide access roads vis a vis other plots
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Rank: New-farer Joined: 1/4/2013 Posts: 35
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Many thanks Wazua family for your wisdom and advise. I will go with the vertical idea,that way the 100X100 will leave a playground for children etc.
Have a productive week ahead.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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GalMU wrote:Okey new &small money describes me at (26yrs).I want to start building my home next year. since I have very small money I was thinking dividing a 100x100 plot between three of my friends to easen the burden of purchase would it be possible to build in the resulting plot...30X100? has anyone built in such so i can see practically?
Many thanks It is more than adequate for a 3 bedroom one storey massionette with an SQ and 2 cars parking and an acceptable backyard. If you can download the Greenspan Estate floor plan, the 3 b/r massionettes are built on 25 by 70 ft plots. The only hurdle will be the council approvals if its in a controlled development single dwelling area.  Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne
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At 26, i would advise you postpone the building idea for a while (since you say money is a challenge). Get some productive ideas to do on the plot e.g green house farming for a while to accumulate funds to build, or alternatively look into doing low cost rentals for a while (mabati kind of thing) for 3-5 years and this way the plot gets to "build itself".
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Rank: Member Joined: 2/20/2007 Posts: 767
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vky wrote:Go vertical, get your pals to share your building idea then form a holding company and list you and your pals as the directors, transfer the title to the company, build a two storey apartment where you and your pals will have a floor each then register each floor under the sectional properties Act, each of you will get a title then you can kill the company or let it run to manage the common areas
For those in the know, what are the costs of transfering land title from an individual to a company whose director is the individual .... as in it is not a sale. A related question, if I have title to a piece of land and I want to attach someone else to that title to make it joint property, is it possible. I am more interested in knowing the fees payable in these two scenarios and the process if possible. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 8/16/2012 Posts: 660
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tom_boy wrote:vky wrote:Go vertical, get your pals to share your building idea then form a holding company and list you and your pals as the directors, transfer the title to the company, build a two storey apartment where you and your pals will have a floor each then register each floor under the sectional properties Act, each of you will get a title then you can kill the company or let it run to manage the common areas
For those in the know, what are the costs of transfering land title from an individual to a company whose director is the individual .... as in it is not a sale.A related question, if I have title to a piece of land and I want to attach someone else to that title to make it joint property, is it possible. I am more interested in knowing the fees payable in these two scenarios and the process if possible. Of course it is a sale. From my limited knowledge, a company and an individual are two separate legal entities. A percentage of the value of the land is payable for a transfer of title. Please see Marty's thread on The power of financial education:Of Certificates and BallotsHapo kuna information itasaidia to 'clear the fog' kiasi hopefully. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: New-farer Joined: 1/4/2013 Posts: 35
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dunkang wrote:GalMU wrote:Okey new &small money describes me at (26yrs).I want to start building my home next year. since I have very small money I was thinking dividing a 100x100 plot between three of my friends to easen the burden of purchase would it be possible to build in the resulting plot...30X100? has anyone built in such so i can see practically?
Many thanks It is more than adequate for a 3 bedroom one storey massionette with an SQ and 2 cars parking and an acceptable backyard. If you can download the Greenspan Estate floor plan, the 3 b/r massionettes are built on 25 by 70 ft plots. The only hurdle will be the council approvals if its in a controlled development single dwelling area. Well well, many thanks Dunkang,the plans look really nice.
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Rank: New-farer Joined: 1/4/2013 Posts: 35
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Rahatupu wrote:At 26, i would advise you postpone the building idea for a while (since you say money is a challenge). Get some productive ideas to do on the plot e.g green house farming for a while to accumulate funds to build, or alternatively look into doing low cost rentals for a while (mabati kind of thing) for 3-5 years and this way the plot gets to "build itself". The mabati structures is a nice idea and will think about it harder. I am tired of enriching the landlord and i was hoping to start early and take my good time. Then again making more money has its glitters. Thanks.
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Rank: Member Joined: 2/20/2007 Posts: 767
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Museveni wrote:tom_boy wrote:vky wrote:Go vertical, get your pals to share your building idea then form a holding company and list you and your pals as the directors, transfer the title to the company, build a two storey apartment where you and your pals will have a floor each then register each floor under the sectional properties Act, each of you will get a title then you can kill the company or let it run to manage the common areas
For those in the know, what are the costs of transfering land title from an individual to a company whose director is the individual .... as in it is not a sale.A related question, if I have title to a piece of land and I want to attach someone else to that title to make it joint property, is it possible. I am more interested in knowing the fees payable in these two scenarios and the process if possible. Of course it is a sale. From my limited knowledge, a company and an individual are two separate legal entities. A percentage of the value of the land is payable for a transfer of title. Please see Marty's thread on The power of financial education:Of Certificates and BallotsHapo kuna information itasaidia to 'clear the fog' kiasi hopefully. @Museveni, thank you for directing me to that thread. However. some fog persists. What is current applicable stamp duty and is there a fee payable to add your spouse's name as a joint owner in property that you already own as an individual. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 8/16/2012 Posts: 660
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@tom_boy These rates are not standard in all areas. Best place to find exact figures would be the lands office in that area. But generally, transfers are divided into two categories i. Urban Land [land in the municipalities] - stamp duty rate is 4% ii. Agricultural land Outside the Municipality– stamp duty rate is 2% Percentage on value of property. Except from Stamp Duty Act (Cap. 480)Quote:10. (1) All the facts and circumstances affecting the liability of any instrument to duty, or the amount of the duty with which any instrument is chargeable, shall be fully and truly set out in the instrument; and every person who negligently or with intent to defraud the Government-
(a) executes any instrument in which all those facts and circumstances are not fully and truly set forth;
or
(b) being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all those facts and circumstances, shall be guilty of an offence and liable to a fine not exceeding one hundred thousand shillings. In short, failure to declare the correct amount [valuation of the said land] for stamp duty is an offence. The above applies for gifts too where no sale is executed. Hope this helps. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Is Dividing a 100x100 flat plot by three wise?
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