Skip to main content

What you need to know before buying any property

SOME FREE LEGAL TIPS TO CONSIDER WHEN BUYING LANDED PROPERTIES IN NIGERIA 1. When buying family properties, especially royal or traditional families, ensure that you are dealing with the Head of the family and at least two principal members of the family, who are adults. Anything short of this, the sale is NULL. Head of the family alone cannot sell family property and principal members of the family alone cannot sell family property. It’s even worse if you are dealing just one person claiming to be the representative of the family. 2. When buying land from a company, ensure that you get the Status Report of the company before paying. Be certain that the property is not only registered in the name of the company but also the directors are the ones signing the documents with you. Insist on getting the means of identification of the seller. If they tell you they are selling on behalf of the family, refer to number 1 above by requesting for the Deed of Power of Attorney. 3. The fact that a property has a C of O is not a conclusive proof of title. You have to be certain that the C of O was not falsified or obtained by fraud or obtained over an encumbered property. Similarly, when a property is covered by a Deed of Assignment, ensure that it is a duly registered and stamped Deed and it is verified to be unencumbered. An unregistered Deed of Assignment cannot transfer a valid legal title. Ir is not different from a Contract of a sale of Land. 4. When buying property from a Church or Mosque, ensure that it is registered in the registered name of the Church or the Mosque. Also, make sure that you are dealing with the registered Trustees because not all Imams and Pastors are Trustees of the Church and Mosques. In most cases, they are just employees and get paid monthly salaries. So they cannot sell any property to you. 5. When buying property from a couple. If possible, request for their marriage certificate and do not deal with either the husband or wife. Make sure you deal with both of them. Don’t fall for, I have my husband or wife permission to sell. Also, make sure they both sign your documents in the presence of a witness. Otherwise, the sale can easily be set aside, especially when they are going through a divorce. 6. When buying a property that’s a subject of a will. Don’t fall for “my dad or mum” willed it to me without sighting the will. Also, sighting the will is not enough, you must make sure that the will is not subject to any litigation and the Executors of the Will have issued an Assent to the beneficiary selling the property to you. Without the document called “Assent”, no beneficiary can sell any property he or she inherited to you. Also, make sure you ask for a copy of the “Probate” issued to the Executors; because that’s the only document that gives the Executors the power to issue Assent. If it’s not a will, then ensure you have a copy of the Letters of Administration. Without this, you have not acquired a property. 7. When buying a property from a Developer, the title documents are not enough. Ask for development or building permits. Ask for evidence of payment of ground rents and land use charges on the property. For more Legal tips, consult a Lawyer. @highlight

Comments

Post a Comment

Popular posts from this blog

Meet the new boss of Alvan Ikoku College of Education

Meet the new boss of Alvan Ikoku College of Education. A new boss has been appointed as chairman governing council of Alvan Ikoku College of Education. Hon. Abinye Alex-Hart was appointed recently  to head the activities of the institution. Hon. Alex-Hart was born on June 21, 1956, in Bonny, to the family of Late Pa. A.B. Hart (the famous Headmaster, Bandmaster and Choirmaster) and Late Mrs. Violet E. Alex-Hart (the famous Educator and Opera singer). He is the last child in the family of six, whose miraculous birth was an answer by God to persistent prayers for male children.  He grew up under the tutelage of a grand disciplinarian when discipline was not a story-book idea, but the merciless grinding reality of everyday life. EDUCATION: Hon. Abinye Alex-Hart began his formal education at the famous Bonny Government School, left in 1972 and proceeded to Bonny National Grammar School, where he came out with flying colours in the West African Schools Certificate Examinations ...
75 comments
Read more

Rivers: APC gubernatorial candidate (Tonye Cole) escapes assassination

Report made available to newsmen has it that the Candidate of the All progressive Congress, Arc. Tonye Cole narrowly escaped what appears to be assassination. Here is the full details. "SUSPECTED PDP GUNMEN OPEN FIRE ON TONYE COLE’S CONSULTATION TEAM AT OLD BAKANA …A serving Commissioner in Wike's govt from the area fingered Blood bath was averted today (Friday, November 16, 2018) at Old Bakana as gun men alleged to be sponsored by a PDP serving Commissioner in Nyesom Wike’s government from the area opened heavy gun fire on Pastor Tonye Cole and his team as they were carrying out ward-to-ward consultation in the community. On arrival at the community and as is usual with the team, Tonye Cole and other leaders of the All Progressives Congress, APC, on the delegation had gone to pay a courtesy call on the traditional head of the community prior to commencement of the exercise when heavy gunfire erupted from all directions of the community. Pastor Tonye Cole immedia...
1 comment
Read more

Hon (Prince) Kayode Moshood Akiolu: A visionary leader championing progress beyond Lagos Island II

Hon. Prince Kayode Akiolu, a federal lawmaker representing Lagos Island Constituency II has proven to be more than just a representative to his people, but to Lagos state at large. He is a passionate servant of the people, a visionary leader, and a tireless advocate for progress. With a deep love for his constituents and an unwavering commitment to the development of Lagos State, Hon. Akiolu has taken bold strides in capacity building, youth and women empowerment, job creation and visible infrastructural developments. His initiatives have opened doors of opportunity for countless individuals, nurturing local talent and encouraging economic growth at the grassroots level. As the Chairman of the House Committee on Anti-Corruption, he has not only led from the front but also championed the fight against corruption with integrity and determination. His leadership in this area reflects his belief in transparency, accountability, and a better Nigeria for all. Hon. Prince Kayode Akiolu ...
Post a Comment
Read more