Property Valuation Request Form (Ghana)

A Property Valuation Request Form in Ghana states what the requester is asking for and the basis on which it should be granted.

Section 20 of the Lands Commission Act 2008 (Act 767) specifically empowers the Lands Commission to carry out valuations of land and interests in land for purposes including compulsory acquisition, stamp duty assessment, estate administration, mortgage security, and statutory compensation. The Land Valuation Division of the Lands Commission employs government-licensed valuers who conduct assessments in accordance with the International Valuation Standards (IVS) as adapted to Ghanaian conditions. The Lands Commission's regional offices in Accra, Kumasi, Takoradi, Cape Coast, Koforidua, Tamale, and other regional capitals process valuation requests from members of the public and public entities.

Private chartered valuers operating in Ghana are regulated by the Ghana Institution of Surveyors (GhIS), which was established under the Institute of Chartered Surveyors Act 1975. The GhIS sets professional standards for valuation practice and enforces the Code of Ethics for Valuers in Ghana. A property valuation carried out by a GhIS-accredited valuer and submitted on the official valuation report format is accepted by the Lands Commission, the Ghana Revenue Authority (GRA), the courts of Ghana, and lending institutions including the Bank of Ghana-licensed banks.

The Land Act 2020 (Act 1036) replaced the earlier Administration of Lands Act 1962 and the State Lands Act 1962, consolidating the legal framework for land ownership, transfer, and leasing in Ghana. Under Act 1036, land in Ghana may be held under one of four tenure systems: allodial title (held by stools, skins, clans, and families), customary freehold, common law freehold, or leasehold from the State. A property valuation must identify the tenure type because the marketability of the interest — and therefore its market value — depends significantly on whether the land is freehold, stool land subject to a leasehold, or vested government land. Stool lands constitute the majority of land in Ghana and are administered through the Office of the Administrator of Stool Lands (OASL) under the Office of the Administrator of Stool Lands Act 1994 (Act 481).

The Stamp Duty Act 2005 (Act 689) requires that instruments affecting land — including sale agreements, assignments, mortgages, and gifts — be valued by the Lands Commission or a licensed valuer and that the appropriate stamp duty be paid to the Ghana Revenue Authority (GRA) on the certified value. A valuation report produced under this form is therefore a prerequisite for registration of land transactions at the Lands Commission and at the Deeds Registry maintained by the Land Administration Division. The GRA Stamp Duty Unit at the Lands Commission reviews valuation reports to confirm that the consideration stated in the instrument reflects market value before certifying the stamp.

The Real Estate Agency Act 2020 (Act 1047) regulates real estate agents in Ghana and requires that valuations used in property transactions be conducted by appropriately qualified professionals. Under Act 1047, real estate agents who support property sales must confirm that any valuation used in the transaction is prepared by a person accredited by the GhIS or the Lands Commission. A Property Valuation Request Form submitted through forms-legal.com records the essential information needed by the valuer — the property description, title documents, purpose of valuation, date of valuation, and intended use — so that the valuation report complies with the International Valuation Standards and the requirements of the Lands Commission.

The Land Use and Spatial Planning Act 2016 (Act 925) also affects property values in Ghana. The Land Use and Spatial Planning Authority (LUSPA) prepares land use plans that designate land for residential, commercial, industrial, or agricultural use. The planning designation of a parcel directly affects its market value; land zoned for commercial development in Accra's central business district commands substantially higher values than comparable land zoned for agriculture. A competent valuer will check the planning permission status of the property at the relevant MMDA before completing the valuation report.

A Property Valuation Request Form in Ghana is needed in several common circumstances that require an independent professional assessment of property value.

A valuation is required before the sale or purchase of land or buildings in Ghana. Buyers and sellers commission valuations to confirm that the transaction price reflects the current market value of the property, taking into account location, size, condition, title type under the Land Act 2020 (Act 1036), and comparable sales in the same district. Real estate agents operating under the Real Estate Agency Act 2020 (Act 1047) typically recommend independent valuations before listing or offering on property.

A valuation is required by mortgage lenders including universal banks licensed by the Bank of Ghana (BoG) under the Banks and Specialised Deposit-Taking Institutions Act 2016 (Act 930), and savings and loans companies before advancing a loan secured on real property. The bank's credit committee requires a certified valuation report from a GhIS-accredited or Lands Commission valuer confirming the forced sale value and open market value of the security property. The Bank of Ghana's prudential guidelines require lenders to obtain updated valuations at regular intervals during the life of the loan.

A valuation is required for stamp duty assessment purposes under the Stamp Duty Act 2005 (Act 689). Before an assignment, sale agreement, or mortgage can be registered at the Lands Commission, the instrument must be presented to the GRA Stamp Duty Unit with a valuation of the property. The Ghana Revenue Authority (GRA) levies stamp duty on the higher of the consideration stated in the instrument and the certified market value.

A valuation is required in connection with compulsory acquisition of land by the Government of Ghana under the Land Act 2020 (Act 1036). Section 20 of the Lands Commission Act 2008 (Act 767) requires the Land Valuation Division to assess and certify prompt, fair, and adequate compensation for any person whose land interest is compulsorily acquired. Affected landowners have the right to challenge the adequacy of compensation before the High Court (Land Division) in Accra.

A valuation is required for estate administration and probate proceedings before the High Court of Ghana where the deceased's estate includes land or buildings. The Administrator-General's Department requires a certified valuation of all immovable property in the estate before granting letters of administration. Similarly, the Ghana Revenue Authority (GRA) requires estate valuations for capital gains tax and inheritance tax assessment purposes under the Income Tax Act 2015 (Act 896).

A valuation is required for insurance purposes. Property insurance premiums charged by insurance companies licensed by the National Insurance Commission (NIC) are calculated on the basis of the declared replacement cost value of buildings. An outdated or inaccurate reinstatement cost figure can result in underinsurance — meaning the insurer pays only a proportionate share of any claim under the average clause. A current professional valuation protects the property owner against this risk.

A valuation is also required for accounting and financial reporting purposes. Companies incorporated under the Companies Act 2019 (Act 992) that hold land or buildings as fixed assets must carry those assets at fair value or at cost less depreciation on their balance sheets prepared under International Financial Reporting Standards (IFRS) as enforced by the Institute of Chartered Accountants, Ghana (ICAG). A periodic professional valuation supports the directors' representation to the auditors appointed under the Companies Act 2019.

A complete and valid Property Valuation Request Form in Ghana under the Lands Commission Act 2008 (Act 767) must contain the following key elements.

Client Details: Full name, address, and contact information of the person or entity commissioning the valuation — whether a private individual, a company incorporated under the Companies Act 2019 (Act 992), a bank licensed by the Bank of Ghana (BoG), or a government agency. Where the client is a company, the company registration number issued by the Office of the Registrar of Companies (ORC) should be stated for identification purposes.

Property Description: The physical address, plot number, block number, and registration number of the land parcel as reflected in the site plan or cadastral map maintained by the Survey and Mapping Division of the Lands Commission. For stool land and family land, the name of the owning stool or family should also be stated. The GPS digital address issued by Ghana Post should be included where available, as it helps valuers and the Lands Commission to locate the property precisely on mapping systems.

Title Documents: A list of the title documents held in respect of the property — for example, a Land Certificate issued under the Land Title Registration Law 1986 (PNDCL 152), a registered Lease from a stool or the Government, or an Assignment accompanied by an Indenture. The valuer must review the chain of title to assess the marketability of the interest and any encumbrances registered at the Lands Commission, including mortgages, caveats, and court orders.

Purpose of Valuation: The specific purpose for which the valuation is required — mortgage security, sale, purchase, stamp duty assessment, compulsory acquisition compensation, insurance, estate administration, or accounting. The purpose of valuation determines the basis of value (market value, replacement cost, or investment value) in accordance with the International Valuation Standards. A valuation report prepared for one purpose — for example, mortgage security — may not be used for a different purpose without a new instruction.

Date of Valuation: The effective date as at which the valuation is required. For retrospective valuations in litigation, the relevant date is determined by court order or the date of the event giving rise to the dispute before the High Court (Commercial Division) in Accra.

Instructions to the Valuer: Any specific instructions regarding access to the property, tenancy information, existing planning permissions under the Land Use and Spatial Planning Act 2016 (Act 925), and environmental conditions that may affect value. For commercial properties, the current rental income and the terms of existing leases must be disclosed.

Fees and Engagement: The valuation fee schedule of the Ghana Institution of Surveyors (GhIS) or the Lands Commission fee schedule applies depending on whether a private or government valuer is engaged. The fee is typically calculated as a percentage of the assessed value. The engagement letter between the client and the valuer should confirm the fee, the reporting format, and the delivery date.

Governing Framework: The valuation report produced pursuant to this request must comply with the International Valuation Standards, the GhIS Professional Conduct Rules, and the reporting requirements of the Lands Commission. Forms-legal.com provides this Property Valuation Request Form as a starting point for property owners, buyers, lenders, and solicitors operating in Ghana. Parties should consider seeking advice from a solicitor enrolled with the Ghana Bar Association and a GhIS-accredited valuer for transactions involving significant commercial value. The Lands Commission Land Valuation Division, located at Cantonments, Accra, is the competent authority for official government valuations under the Lands Commission Act 2008 (Act 767) s.20.

For mortgage security valuations, the Bank of Ghana (BoG) Prudential Guidelines require lending banks to obtain updated property valuations at prescribed intervals — typically every three years for commercial property and every five years for residential property — to monitor changes in the value of security held against outstanding loans classified under the BoG's loan classification framework. Valuers preparing mortgage security reports must state both the open market value and the forced sale value (typically 70–80% of open market value for well-located Accra properties) and must describe any constraints on the marketability of the property such as encumbrances registered at the Lands Commission, boundary disputes recorded in court files, or planning enforcement notices issued by the relevant MMDA under the Land Use and Spatial Planning Act 2016 (Act 925).

For insurance reinstatement cost valuations, the National Insurance Commission (NIC) licensing requirements for property insurance include that the sum insured must reflect the current replacement cost of the building based on a professional valuation. Underinsurance — where the sum insured is less than the true replacement cost — results in a proportional reduction of any claim paid by the insurer under the average clause. A current professional valuation from a GhIS-accredited valuer protects the property owner from this risk and is a condition of many commercial property insurance policies issued by NIC-licensed insurance companies including Enterprise Insurance, SIC Insurance Company, and Vanguard Assurance.