How to Acquire Properties in Kenya
There are several ways in which one can acquire property legally in Kenya. Some of them include;
Dominic Mwangi
1. License
A person who owns a property can create a license for their property to allow another person to conduct an activity on their land. However, the property owner can revoke the license at any time without prior notice. This is because the license does not give full ownership interest for the property to the licensee. The licensee cannot transfer the license to another person.
2. Lease
This is an agreement outlining the terms and conditions, where a party agrees to use a property owned by another party for some specific time with a regular payment of rent. The tenant has mandated the property in the outlined way. The lessor, on the other hand, is assured of regular payment for the specified time. There are also consequences to be suffered for the breaking of the lease agreement. This is because the leases are legal and binding contracts. The lease can be extended through negotiations between the tenants and the lessor.
The lease can be either;
a) Short term lease
A short term lease is any contact for ownership of property by a tenant that does not exceed six months. It is majorly on a month-to-month basis. The tenants pay the rents on the basis of the agreement. It's majorly by landlords for residential property.
b) Long term lease
This is a contract between a tenant and a lessor that allows the right to hold or use a property for a fixed or an unlimited time generally against an annual payment of rent. It allows the holding of the title for a specified period of time.
3. Purchase
This is the acquisition of property for the utility by a transaction by a legal tender. It allows the user or the buyer to put the property into any use as long as it abides with the government policies.
