How important is the certificate of occupancy to a real estate Business

[Ralphjoe]

The certificate of occupancy (CofO) is a government issued certificate granting right of a person or Business the right to occupy that land for mostly a period of time.
Having known this, what do you think will be the importance of a certificate of occupancy to a business?

 

[Kamon c4]

Certificate of occupancy ( C of O) serve as a legal document claiming you as the rightful and legal owner of your building. This will ascertain that you’ve done the necessary legal steps such as tax on the building. It’ll also provide coverage for your building in case of the future act towards your building from the government. Whenever there’s a demolition done by the government or any other agency you’ve the right to be the full value of your building before demolition

 

[GoldenLady]

Having seen many cases where people lose ownership of their land if they lose their C of O, I know it's very important.

It's also a means of protection against fraudsters who sell land that does not belong to them.

 

[Ojonuyo]

Certificate of occupancy is needed to show that you are the rightful owner of the property. The world is filled with numerous scam and Ponzi scheme every where, anyone can just pretend to own the property and disguise to cheat people of their money. But with your certificate of occupancy you have proven you are real owner of the property.

 

[GIFTMICHAEL]

The certificate of occupancy (CofO) is a government issued certificate granting right of a person or Business the right to occupy that land for mostly a period of time.
Having known this, what do you think will be the importance of a certificate of occupancy to a business?

Certificate of occupancy otherwise known as CofO is not given for business purpose but business can benefit greatly in any land having certificate of occupancy.
This certificate is give to land owner to legally occupy a particular land duely bought for a long period of time.

 

[kayode10]

Certificate of Occupance shows that you are the rightful Lord over the real estate property you own. It shows that government of the state has your record over the real estate property you acquire. This certificate of occupancy can be used to obtain loan to finance your real estate mortgage. Certificate of Occupance can be used to defend your property in the court of law.

 

[.V.]

It makes a person the exclusive owner of a property thereby preventing a situation where a single property is claimed by multiple owners.
Without a certificate of occupancy, the owner has no legal right to lease a property.

 

[btaliat]

Certificate of occupancy is always advisable to have. It can be used to protect and defend your land anywhere because government will have the details of the owner and the land. Also, it can be used to collect loans in bank.

 

[Trexxxy]

If it is as you described it that means the owner of the certificate is the legit and recognised owner of the property. That will dispel any cloud of doubt or perhaps owner tussle over who is the real owner of the property.

 

[Hassan14]

The certificate of occupancy (CofO) is a government issued certificate granting right of a person or Business the right to occupy that land for mostly a period of time.
Having known this, what do you think will be the importance of a certificate of occupancy to a business?

Obtaining a certificate of possession means that you are the rightful and real owner of the property because when you have your own certificate of possession you will never be able to get to know anyone and no one will be able to deceive you. There are many such companies and servants who cheat but no one will be able to cheat when you have your certificate.

 

[Highflyer]

A Certificate of Occupancy, also known as the C of O is a document issued by state governments in Nigeria to landowners and property buyers as a legitimate proof of ownership. This document also spells out what the land can be used for; residential, commercial or mixed development.Certificate of Occupancy, generally called a C of O, is the document issued by State governments in Nigeria to landowners and property buyers as a legitimate proof of ownership after requirements have been met.

 

[Yewande]

Obtaining a certificate of possession means that you are the rightful and real owner of the property. This can defend you in court if a second party wants to contend that land with you. It's highly important you get it. Mostly in this part of the world

 

[Nurudeen]

Certificate of occupancy C of O is very important in a real estate business because this will serve as a proof of ownership when anybody claims to own the land you are currently building on. For example, in my country there are set if people called the land grabbers they are majorly grabbing people's land and resell it but with the help of c of o they can't do that

 

[HIFSA LAHORI]

It is very important that you have a certificate. The world is free from deceivers. Prepare false papers. And don't even know what to do but your certificate guarantees that your building is legally yours. Because it is certified by the government

 

[Sariana23]

The certificate of occupation gives you security and stability in the establishment that you are occupying. It is a legal document that at any time, a government or law enforcement entity may request you, if you do not have it, they can easily demand that you vacate it, because in this case it would be an invasion of property.

 

[Alexandoy]

The certificate of occupancy is like a title although it is only a right to use the land and not an ownership of the land. Most of the cases that I know about people holding the certificate of occupancy are now the owners of the land because the government had granted them a title. But I am talking of the land in the urban areas only. That is pretty small at less than 100 square meters and usually it is just slightly wider than 50 square meters. With a big land in the rural area we have the homestead law under a government agency. We have a family friend who is a homesteader in the 1960s that he received a title to the 24 hectares that he now owns.

 

[Setfragil]

Certificate of occupancy is very important in real estate, it is the proof of ownership of a property in order to avoid future disagreement. If you do not have the certificate of occupancy of your properties, it can be taken away from you without nothing that you can do to it.

 

[Richard92]

Certificate of occupancy is very important in real estate, it is the proof of ownership of a property in order to avoid future disagreement. If you do not have the certificate of occupancy of your properties, it can be taken away from you without nothing that you can do to it.

certificate of occupancy is very important in a real estate business because it gives you the proof of ownership this is certificate that makes you the owner of the property.

 

[Prettyjanie]

Certificate of Occupancy is an important document when it comes to real estate. It's synonymous with proof of ownership. That is why it is advisable to get the document the moment you purchase a property.

 

[tyrim88]

Certificate of occupancy is a title document legally issued by the government to a property owner.It shows that he is the rightly owner of the land,thereby free from land grabbers and future tussle.The govt cannot just come and carry out developmrnt on the an area that has the land in question without you having claim to the full value of the land if the need be.