Land Registration & Property Conveyancing in Gambia
When it comes to buying or selling land or property in The Gambia, there are specific procedures for land registration and property conveyancing that must be followed. To ensure a smooth and legally sound transaction, it is highly recommended to engage the services of a reputable property solicitor or conveyancer in The Gambia. At Gambia Property Sales, we have a team of highly qualified Gambian property lawyers and real estate attorneys who are fluent in English and can represent your interests throughout the process.
Conveyancing Process and Private Contracts
Unless a full cash payment is made immediately, the conveyancing process involves the drafting of a private contract by the respective lawyers. This contract outlines crucial details such as the property description, purchase price, payment terms, completion date, and possession date. Similar to European law, a deposit, typically 10% of the purchase price, is paid upon signing the contract, with a standard completion period of approximately 30 days.
Deed of Conveyance and Registration
Upon payment of the remaining balance, the seller issues a public deed of conveyance to the purchaser, guaranteeing the property is free of liens and encumbrances. This deed is then submitted to the Tax Office for assessment of Capital Gains Tax and Stamp Duty, after which it is forwarded to the Property Registry for formal registration.
Land Registration Fees and Conveyancing Costs
Land in The Gambia is registered at the Property Registry, similar to the English Land Registry, providing immediate confirmation of the seller’s ownership without any liens or encumbrances. However, it’s important to note that there is still unregistered land or property available, as in Europe. To avoid confusion, European buyers and sellers need to understand the distinction between freehold and leasehold terms used in both regions. In The Gambia, these terms have different implications than in Europe.
Understanding Land Ownership in The Gambia
In The Gambia, there is no concept of absolute ownership of land and property since all land is ultimately owned by the government and leased to private purchasers for a period of 99 years. However, it’s crucial to note that this leasehold status does not correspond to leasehold land as understood in Europe.
Land or property can be either leasehold or freehold, depending on whether it has been registered at the Property Registry. Unregistered land/property holds a freehold status, while registered land/property is considered leasehold. During the purchasing process, it is important to register previously freehold land/property as leasehold at the Property Registry. This documentation ensures your unequivocal ownership of the property.
Trust Gambia Property Sales for a Seamless Conveyancing Experience
When it comes to land registration and property conveyancing in The Gambia, trust Gambia Property Sales to provide you with a seamless experience. Our expert team is dedicated to safeguarding your interests and ensuring a legally compliant transaction. Contact us today to benefit from our extensive knowledge of the local market and to discuss your specific conveyancing needs.