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Tema Development Corporation officer urges caution in real estate transactions

February 9, 2024
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Mr Ian Tabalor Okwei, the Protocol and Administrative Officer at Development Corporation (TDC) Ghana Limited, has emphasized the importance of conducting thorough investigations before purchasing properties from real estate companies. Speaking in an interview with the (GNA), Mr Okwei stressed the necessity for prospective buyers to ascertain the jurisdiction of the land in question and verify the legitimacy of the real estate company as the rightful owner.

He urged individuals to engage with state agencies such as the Lands Commission or the TDC to verify the ownership status of the land before proceeding with any transactions. Mr Okwei emphasized the importance of checking all relevant land documents and understanding the transfer procedures to ensure a smooth property transfer process.

Mr Okwei cautioned against trusting real estate companies that fail to provide satisfactory answers to crucial questions regarding land ownership and documentation. He highlighted the risk of acquiring properties without legal documentation, which could render individuals illegitimate owners despite their assumptions of ownership.

“It's worrying that many people have acquired properties without proper legal documentation, leaving them in a vulnerable position,” Mr Okwei stated. He advised against being swayed solely by the name or reputation of real estate companies, stressing that registration within the TDC database is essential for legitimacy.

In conclusion, Mr Okwei urged Ghanaians to exercise diligence and prudence when engaging in real estate transactions, emphasizing the need for thorough investigations and adherence to legal procedures to avoid potential complications or fraudulent activities.

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