Notaries to charge new tariffs for property transfer and sales

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Wednesday, 06 March 2019 17:25

Notaries to charge new tariffs for property transfer and sales

(Togo First) - In Togo, notaries reviewed their fees for direct property sales and property transfers. This was decided during the extraordinary general assembly of notaries held last Jan. 31, in Lomé.

The new fees were set based on the property’s value, instead of degressive rates used previously.

“In the past, this rate was degressive and for properties worth more than sixteen to twenty million CFA francs (World Bank study), the fee perceived was about CFA350,000, against 250,000 currently),” said Sandra Johnson, State secretary and Coordinator of the Business Climate Cell (CCA).

From now on, notaries’ charges stand at CFA100,000 for properties worth less than CFA1 million, CFA150,000 for properties worth between one to five million. For properties worth between five to ten million, notaries will charge CFA200,000 and CFA250,000 for properties worth between 10 to 22.5 million.

“For sales or transfers of property valued at more than 22.5 million, notaries’ charges remain the same as before,” the new provision indicates.

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