In Kenya, there’s often confusion between a “Title Deed“, “Share Certificate” and an “Allotment Letter” and it’s important to understand the distinction.
Here’s a brief breakdown of Title Deeds, Share Certificates, and Allotment Letters in Kenya:
Title Deed: The Title Deed is the crown jewel of property documentation. It’s a legal document that proves your ownership of a piece of land or property. It includes detailed information about the property, including its boundaries, size, and the owner’s particulars. It’s like having the keys to your kingdom!
Share Certificate: Share Certificates are typically associated with ownership in companies and co-operatives. They represent your ownership stake in these entities, which may own or manage the property. Share Certificates are issued to shareholders and signify their rights and interests in the company or cooperative.
Allotment Letter: An Allotment Letter is a document issued by a property developer to a buyer, confirming the allocation of a specific property within a development. It’s an initial document that outlines the terms and conditions of the property purchase, and it serves as proof of intent to transfer ownership.
Understanding these documents is vital when buying or selling property in Kenya. The Title Deed is the ultimate proof of ownership, while Share Certificates and Allotment Letters are associated with shares and property allocations within organizations.
Always make sure to complete the necessary processes to secure your Title Deed and protect your property rights.