what should be a priority if you have some cash , completing the building on a land(with a survey plan) or getting a c of o to prevent this problems?

john_shagb: pls who actually read this thing?

Everyone interested in buying a land, so many ppl

DO YOU KNOW THAT

1. Buying a Land that is deemed to be “free” but it has no Certificate of Occupancy or Governors Consent or Gazette / Excision is a gamble?

2. Buying a Land with “Gazette in Process” and “Excision in View” or “File Numbers” is an unsecured investment? This is a commonly used scam / trick by real estate development companies in Lagos, Nigeria.

3. There are cases where fraudulent Sellers present cloned Certificate of Occupancy or Registered Titles, alongside fake or forged means of identification?

4. In a situation where a Property is owned by a Corporate Body incorporated or registered under the Companies and Allied Matters Act, Search at the Companies Registry is paramount?

5. Without a grant of probate and /or letters of administration, no Vendor or Seller [whether family members or otherwise] possesses the requisite authority to sell the estate or property of a deceased person? Hence Search at the Probate Registry is vital.

6. The consent of the principal members and head of the family or community to the sales transaction needs to be obtained so as not to make the sales transaction void or voidable?

7. If the Title of a Land is defective, whoever buys a House built on such a Land is merely a tenant at the mercy of the true Owner with a valid legal Title to the Land? The Legal Maxim: “quicquid plantatur solo, solo cedit” in very instructive. It simply means that whatever is affixed or planted to a land belongs to the land.

8. It is the duty of the Lawyer of the Buyer or Purchaser to prepare the Documents which includes: Contract of Sale; and Deed of Assignment; or Deed of Sub-Lease; or Deed of Conveyance; or Deed of Transfer; or Power of Attorney; as the case may be? The rationale for which the duty of preparation of the Documents is on the Lawyer of the Buyer or Purchaser flows from the right of the Buyer or Purchase to the non - reversionary interest of the property.

9. If there is litigation on a property, the Court may order that status quo be maintained and the person in possession would remain in possession? After making payments and executing Title Documents, a Buyer can take possession by: erecting a small fence, farming on the property, putting tenants on the property, putting a security person on the property, putting construction materials on the property, etc.

10. The Land Use Act prohibits alienation of Land without the consent of the Governor?

11. Failure to pay stamp duty renders a title document unacceptable for registration and inadmissible in evidence in a court of law?

12. Registration does not cure defects neither does it confer validity on the Instrument which it would not have otherwise had but for its registration?


You need to know how to go about the process of buying and owning a Property in Nigeria. There are several Laws which govern and regulate the process. Hence, usually, it is time and capital intensive. On Property transactions, the legal maxim is apt: “Caveat Emptor” - Buyers Beware. It is not for a Seller to beware. A Buyer needs to exercise full caution and due diligence when buying a property.


READ MORE https://www.nairaland.com/4136950/guide-how-buy-property-land

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annalong:
Am a property agent now. But back in 2006 when i brought a land in Iju area, the Baale claimed to own the land and i had started building before the real owner who had travelled to the US for the past 7years came back after hearin that someone was building on the Land. I had to pay for the Land again to the real owner after my investigation since i did not want to go to court. But i collected my money from the Omo onile oooh (The guy suffered) and sold the uncompleted property since i knew the Omo oniles may want to get back at me.I just wanted the Omo onile to know that you cant cheat everybody and go scot free. Good one Lawyer.

How did you collect your money pls