Transfer of leases is a simple process that is allowed under the conditions of a lease. Application for transfer is done at any of the respective branch offices for which area falls.
Transferors are required to and must provide the following for processing of an application to transfer:
• Surrender Original copy of lease.
• Clear all rents.
• A certified copy of valuation report.
• Pay inspection fees and 2% duty on current value of land.
• Completed, signed and notarized (by Commissioner of oaths), transfer application form
Transfer will not be done for leases with a remaining period of only one year. In such cases clients will be advised to apply for renewal first or surrender the lease.
Note: Renewal of a lease must begin processing not later than 30 days before expiry of the lease.