Small common law interests in land, such as facilities and licences, are also recognized by law, as are customary rules, such as rights to shares. Another important development that could have an impact on the real estate industry is the recent creation of six new regions in Ghana. Previously, Ghana had 10 regions. Three of these regions were divided into two different regions and one in three. It was argued that the new regions should be created to accelerate the stagnation of development in these regions. This recent development is remarkable, as it implies the need to create branches of competent state institutions in the new regions. This could mean, for example, that state institutions such as the Federal Commission, once established, may require the re-registration of land in these areas with the corresponding regional branches. There is also a proposed land law (2018) that would revise and consolidate most land laws, land management and land management. The bill, if passed, would complement the Lands Commission Act, 2008 (Law 767), the Administration of Stool Lands Act, 1998 (Law 481) and the Use and Planning Act, 2016 (Law 925).
Notable amendments to the law include excluding non-lawyers from the production of documents to lawyers, transferring and registering land interests electronically, and distributing notices electronically. The bill also provides for registration-related offences to prevent fraud and ensure liability. It also eliminates payment for consent to assignment, sublease, party with property, mortgage or change of use, lease renewal, lease surrender and any other transaction related to leased property or shares of real estate. There are four types of countries in Ghana: government countries, Vested Country, Customary/Stool Country and Family/Private Land. The acquisition of real estate requires the services of a real estate agent and a lawyer. The search for securities is very important in determining the property and the type of land to which the buyer is interested. Once all the agreements have been concluded, the lawyer prepares an act of transport or an appropriate instrument of transmission (recovery). With the signature, the title is transferred to the buyer who pays at the same time for the property. The highest interest in land under Ghanaian land law is allodial interest. This interest, which stems from customary law, is absolute and a priority over all other interests in the country and, although theoretically capable of being held by an individual, it is generally held by a stool, a family or the state. The title in these countries is usually held by the stool head fiduciary for the stool or by the head of the family in trust in the extended family.
Allodial`s owner`s rights exclude certain rights that accrue to the President, such as the right to exploit rocks, minerals, minerals and fossil fuels found in the countryside, under or in the countryside.2 According to recent legislative amendments26, all commercial rents and other expenses, such as overhead maintenance and incidental expenses, are subject to VAT of 12.5%. However, the delivery of goods used as housing or intended for use is exempt from VAT27 Although VAT is a tax on end-users that can be passed on to the tenant, the lessor is responsible for collecting and paying the tax. However, the lessor has the right to deduct from tenants` VAT and incidental costs (TAXE OUTPUT) the total tax on value added paid by the lessor when the service of its services (upstream vat) on certain goods and services and is only required to pay the excess VAT through VAT upstream. Payments are made monthly, with the presentation of a return.