Form LRA 60 (Transfer Pursuant to Purchase by Chargee with Leave of Court) is a specialized land registration document used in Kenya during the foreclosure process. This form facilitates the legal transfer of property when a lender (the Chargee), having exercised their power of sale following a borrower's default, seeks to purchase the charged property themselves. This document is jurisdiction-specific to Kenya and is governed by Regulation 75(1) of the Land Registration (General) Regulations, 2017, issued under the Land Registration Act, 2012. Because a lender cannot ordinarily purchase a property they are selling under their power of sale, this form specifically requires and records the necessary Leave of the Court to ensure the transaction is legally valid and transparent.
This advocate-reviewed template is available for download on wansom.ai and is intended for financial institutions (banks and lenders), legal practitioners (conveyancing advocates), and court-appointed process servers. It is a critical instrument for finalizing the transition of ownership from a defaulting Chargor (borrower) to the Chargee (lender) as the new Transferee.
The downloadable template includes essential fields for the Title Number, details of the Court Order (including Case Number and Date of Order), and the Consideration (purchase price) for the transfer. The form explicitly states that the transfer is subject to the Land Act and the Land Registration Act, and while it acknowledges existing interests in the Register, it effectively clears the property of the previous Charge. Execution must be performed as a deed by the authorized attorneys of the Chargee in their dual capacity as Transferor and Transferee. Rigorous Section 45 verification is required, including the attachment of colored passport photographs, National ID numbers, and Tax PINs, all of which must be authenticated by the person certifying the execution. This legally compliant, ready-to-use template ensures that the high-stakes process of a lender purchasing a charged property is handled with strict adherence to Kenyan statutory requirements.