Important property documents list You Need to Have When Buying Property in Nigeria

Buying a property in Nigeria is a great move, but as with any other major purchase, you'll need to consider the documents you'll need to own it carefully. There are some things that are completely necessary (such as the title and deed of assignment), while other documents might not be so important (like survey plans). However, it's important to know what they all mean to be prepared when buying land or building your own property.  

Certificate of Occupancy  

The local authority issues a Certificate of Occupancy (C.O); it's proof that your property has been fully developed and is ready for occupation.  

In Nigeria, you need to obtain a C.O before you can apply for a mortgage.  

Deed of Assignment  

A deed of assignment is a document that transfers property ownership from one person to another. It is a legal document, signed by both parties and witnesses, which details the terms and conditions of the transfer.  

As with any other property documents listed in Nigeria, knowing who should receive this document and what it contains is essential. The assignee (the new owner) should be named on the deed along with their contact information so they can be contacted in case there are any questions or concerns regarding the transfer of ownership from one party to another.  

The deed should also include information about taxes on properties bought for sale or rent and any other fees associated with this process, such as stamp duty charges.  

Receipt of purchase  

A purchase receipt is a document issued by the seller to the buyer after payment is made. It contains information about the property and the seller. The buyer's receipt, or seller's transfer certificate (as it's called in Nigeria), is a document that confirms the sale of a property from one person or entity to another.  

Survey Plan  

The survey plan is a property map showing all the land's boundaries. It shows the location of the property with other landmarks and roads. In addition, it offers essential features such as water bodies, roads, buildings, and other structures. The survey plan is prepared by an engineer who uses surveying techniques to draw up a map of your house or apartment block.  

Surveying has been carried out since ancient times when people began to move away from nomadic existence towards permanent settlements. Surveying as we know it today was formalized through legislation in Great Britain after 1662 when King Charles II passed an Act requiring that every square mile be surveyed into six-square-mile sections called townships (or sections).  

Title Document / Agreement  

A title document is a legal document that shows the ownership of a property. The title document contains information about the owner of a property and may include details such as:  

• Date of purchase  
• Amount paid for your home  
• Land use (residential, commercial, etc.)  

Whether you are buying your first property or have already bought some, it is important to have the following documents before buying.  

These documents will help protect your interests and ensure that no one can cheat you out of your hard-earned money.  

You can get them from the seller or relevant authorities, but it is best to get them directly from the seller.  

Conclusion  

As we have seen, there are many things you need to know about the property you're buying. The most important thing is that it's legal and valid, which means that the deed of assignment should be signed by both parties involved in selling and buying the house.