CHB has made the transfer of house ownership easier for both the current owners and future buyers. A beneficiary is a term used for a person who is not related to the owner. The current rules stipulate that a CHB house owner can sell his house only on a general power of attorney (GPA) along with a will and a sale agreement. Of significance to the decision is the fact that the buyer is also required to obtain a written consent from the seller’s legal heirs, whether spouse or children or both.In future beneficiaries will be exempted from the tedious exercise of contacting the legal heirs of the seller for obtaining prior consent for the transfer of ownership.
The process of transferring houses on a GPA for beneficiaries would now become simplified for the reason that he or she would no longer have to first trace the legal heirs and then seek their consent for the transfer of ownership. The decision comes as good news for the CHB residents’ federation, which, for long, has been pressing for simplifying the transfer of ownership. In several cases, the beneficiaries were finding it difficult to obtain consent from legal heirs of the seller. There were even reports of legal heirs charging large sums of money from beneficiaries to accord their consent. Those who did not agree to succumb to such blackmail were left with no option but to battle it out in the court, which further delayed the transfer of property for years.
The buyer will only have to give an indemnity bond stating that any further dispute or litigation emerging out of a sale transaction would be dealt between the seller and the buyer with the CHB having nothing to do with it.
Part of the Dream Weave Walk Network 1998-2010