Check with the Land Registry that the seller is providing a clear and non-encumbered title
Agency: Land Registry (“Conservation Foncière”)
The notary will contact a surveyor (géomètre au niveau du chef de service de la conservation foncière). The surveyor will identify the property; verify in the archives of the Cadastre that the seller is the real owner of the property. The certificate summarizes the property’s characteristics. It confirms the identity of the owner, indicates its extent and boundaries, states whether it is encumbered with a mortgage or other liens, and shows whether any tax relating to the property is still unpaid or outstanding.
Time and cost: 7 days, no charge
The notary drafts the Sale agreement and both parties sign it
Agency: Notary
The notary drafts the sale/purchase agreement that both parties sign (the representative of each SARL), after which, the notary will authenticate the sale/purchase agreement by signing it.
Time and cost: 5 days, XAF 284,037.96 (2% of the property value)
Publish the Sale Agreement at the Municipality
Agency: Municipality
By law, it is mandatory to publish the sale agreement to avoid future dispute. This can be done by posting at the local Municipality.
Time and cost: 45 days, no charge
Register the Sale Contract with the Fiscal Authorities
Agency: Fiscal Authorities
The notary files the original of the sale contract “the minute” and pays the Stamp Duty 4000 FCFA (1000 FCFA/page, 4 pages in general) + three copies of the sale contract (“expeditions” and 6000 stamp duty) to the Tax department (Service des Impots).
Note: if payment is not made within the deadlines, there is 100% of penalty. The deadline is one month (1 month) if the sale agreement is prepared by a notary and of three (3 months) if the sale is under private signature.
Time and cost: 2 days, XAF 1,075,142.35 (7.5% of purchase price + FCFA 10,000 (Stamp Duty))
File for name change at the Land Registry “Conservation Foncière”
Agency: Land Registry (“Conservation Foncière”)
The land registry will once again check that all precautions have been taken to avoid any mistake. The name of the new owner will be registered on the title of ownership and the new owner receives his title deed.
Time and cost: 21 days, XAF 203,826.57 (1% of purchase price (Taxe de publicite Fonciere) + 0.4% purchase price (Salary of the Registrar ‘Conservateur’) + 5000 (Deposit Tax))
