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Help! I Saw This On The Document Of The Property I Want To Buy. - Properties (5) - Nairaland

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Be 100% Sure Of The Property You Wish To Acquire At Ibeju Lekki / Land Without Document / LAND DOCUMENT OR TITLE To Know Before Buying Property In Lagos #Safety first (2) (3) (4)

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Re: Help! I Saw This On The Document Of The Property I Want To Buy. by precised: 12:41am On Jul 02, 2016
OP in as much as the deal is good, a lease is a lease unless it means something else in naija, here in the uk, you either buy on freehold or on lease, tho here after the lease is close to running out like 15 to 20yrs remaining its always adviced to extend by contacting the person that owns the freehold tho in some cases there might be a clause for non renewal, I'd walk away from such deal, did I see the lease was from 1922? Which to me the 70yrs lease as already expired or it 1972. If that's the case means uv got 40something years left, might not create a prob now but cld in future with your kids
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by nini007(m): 4:26am On Jul 02, 2016
kenazuu:
is the land is owned by Govt? if yes, it means is transfer of ownership but still under lease arrangement
Grammar Aye
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Lexusgs430: 4:43am On Jul 02, 2016
coolsalm:
Good day Nairalanders,

Please i need the help of experienced people and lawyers in the house for purchasing a property in Lagos.
So recently i decided to purchase a property in Lagos at Agbara area, after negotiating the price with the seller i asked for the land documents, the documents which were handed over to me were the Receipt from Original family owner of the land, Survey plan and the deed of assignment,
what i am worried about now is that in the deed of assignment, there is a clause that states that the original family leased the land for 70 years to the person who wants to sell the property to me now, though currently there are flats with tenants on the said land. attached is the image of the deed of assignment.

So please experienced Nairalanders, i need to know if that 70 years clause will affect me in the future before i can decide to proceed with the purchase.

Thanks


Lucky you that you read the clause. After 70 years if you are still alive, you would pack your load and vacate premises (or the person that inherits it from you)
Best to either seek the cost of lease extension or totally buying the leasehold from the leaseholder (making building a freehold).
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by 4labi: 5:32am On Jul 02, 2016
My stock in trade...you may contact me on 08023037677 for clarification and further investigation as per the property...a good lawyer knows the law while a great lawyer takes the judge out for lunch!

1 Like

Re: Help! I Saw This On The Document Of The Property I Want To Buy. by 5altysleek(m): 6:17am On Jul 02, 2016
Agbara nah still Lagos suburb oo.. Ever heard of Ajagungbale? Baba'baba wa Loni ileyi! Find better nitro boost and zoom!
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Kayrich(m): 7:12am On Jul 02, 2016
coolsalm:
Good day Nairalanders,

Please i need the help of experienced people and lawyers in the house for purchasing a property in Lagos.
So recently i decided to purchase a property in Lagos at Agbara area, after negotiating the price with the seller i asked for the land documents, the documents which were handed over to me were the Receipt from Original family owner of the land, Survey plan and the deed of assignment,
what i am worried about now is that in the deed of assignment, there is a clause that states that the original family leased the land for 70 years to the person who wants to sell the property to me now, though currently there are flats with tenants on the said land. attached is the image of the deed of assignment.

So please experienced Nairalanders, i need to know if that 70 years clause will affect me in the future before i can decide to proceed with the purchase.

Thanks


First, The lease remains 30years as u re buying. If u re regaining the land from the lessee after purchase, i advise u dont go for it cos that lease agreement still stand except if the agreement state of its termination if need be such as yours situation.
Secondly when u see such alteration, simple instinct tells u there is fowl play somewhere and u shouldnt near such.
The funniest thing about deals like is that they can be genuine but no proper/valid documentation available. I wont be surprised if the lawyer attached to this property who is to proffer legal advise also aware of the alteration cos im sure he would have been informed of the sale.
Well as an estate surveyor and valuer which are the No1 consultant as regards real estate issues, thats my advise.
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by jidxin(m): 7:45am On Jul 02, 2016
coolsalm:
Good day Nairalanders,

Please i need the help of experienced people and lawyers in the house for purchasing a property in Lagos.
So recently i decided to purchase a property in Lagos at Agbara area, after negotiating the price with the seller i asked for the land documents, the documents which were handed over to me were the Receipt from Original family owner of the land, Survey plan and the deed of assignment,
what i am worried about now is that in the deed of assignment, there is a clause that states that the original family leased the land for 70 years to the person who wants to sell the property to me now, though currently there are flats with tenants on the said land. attached is the image of the deed of assignment.

So please experienced Nairalanders, i need to know if that 70 years clause will affect me in the future before i can decide to proceed with the purchase.

Thanks
my broda I got dz ur post late but u know wat I want to tell u is dat DONT BUY THE LAND. A sublessor cannot alienate a leased land more than the year he originally agreed upon...for instance he had used 50 years out of d 70 years he can only alienate the unexpired residue of the original tenure of d land and that's 20yrs after 20 yrs d agreement expires. the agreement will not even indicate a deed of assignment but a deed or sub lease. my brov caveat emptor
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by jidxin(m): 8:09am On Jul 02, 2016
whirlwind7:
Go with caution.
I see from the document the words "lessor" and "lesee" used to address both parties. This clearly shows that the land is under a lease title, and not outright purchase.
Get a good property lawyer to handle this for you, to see if these terms can be amended. Otherwise, avoid it and look elsewhere.
My deeds of assignments usually have the words "donor" and "donee" to refer to the seller and buyer respectively.
re u fvking kiddin me donor nd donee?? is it a gift den who re assignor nd assignee
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by YoungOldGee: 8:10am On Jul 02, 2016
I have second hand experiences of Omo-Onile's and thier operations. So, when i wanted to get a property for myself, a friend introduced me to ADRON HOMES & SERVICES LTD. They are a real estate development company who builds and develops estates for the high, middle and low class earners. Thanks to thier flexible payment plan, i was able to pay for my land for a period of 36 months in the absence of which i may not be able to pay outrightly for the land which costs a million naira as at then. The most amazing thing about them is that they let you keep your land for as long as you want without the fear of loosing it. Since then, i have indirecly turned myself to their marketer. So @coolsam, my advice for you is this, run from that leased land because one day, the original owners are going to come for their land. 08102030355 is the marketers number, talk to him, he'll tell you how to go about it.
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by jidxin(m): 8:14am On Jul 02, 2016
whirlwind7:
Go with caution.
I see from the document the words "lessor" and "lesee" used to address both parties. This clearly shows that the land is under a lease title, and not outright purchase.
Get a good property lawyer to handle this for you, to see if these terms can be amended. Otherwise, avoid it and look elsewhere.
My deeds of assignments usually have the words "donor" and "donee" to refer to the seller and buyer respectively.
re u fvking kiddin me donor nd donee?? is it a gift den who re assignor nd assignee ??
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Totfulguy: 9:33am On Jul 02, 2016
whirlwind7:


And what makes you think I don't?

Its the very reason you are in this debacle because you DID NOT! Stop sounding RUDE!
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by toluvibe: 9:36am On Jul 02, 2016
whirlwind7:


And what makes you think I don't?

Lol!! if you did then you don't need our service here dumb ass....
You don't know and you are bragging... you must be a jonzer.
Since you know go buy ham na, shey 70years go soon reach, infact the person wey wan sell ham fit don use 60years out of ham self....10years no far...your court case go long tire...
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by whirlwind7(m): 9:55am On Jul 02, 2016
toluvibe:


Lol!! if you did then you don't need our service here dumb ass....
You don't know and you are bragging... you must be a jonzer.
Since you know go buy ham na, shey 70years go soon reach, infact the person wey wan sell ham fit don use 60years out of ham self....10years no far...your court case go long tire...

Sorry, asshole. The joke's on you. Go to the first page to check who created the topic.
You're no different from the rest of them dumb fvcks who keep quoting me since yesterday, thinking i'm the one asking for advice.
Little wonder everyone is getting dumber nowadays. Look who's calling who dumb. sad

I wouldn't even need advice from the likes of you, who couldn't differentiate his dick from his cell phone.


Totfulguy:

Its the very reason you are in this debacle because you DID NOT! Stop sounding RUDE!

Kindly check the first page of this thread to realize you're barking up the wrong tree. I didn't create the topic, wasn't the one asking for advice.
What do you guys have a brain and a pair of eyes for? Quit mentioning me. Geez!

2 Likes

Re: Help! I Saw This On The Document Of The Property I Want To Buy. by yemmat2008(m): 10:11am On Jul 02, 2016
Pls, go look else where.... That land is not worth it. It happen to my in-law sometime ago in that same area. When it comes to the issue of land. I don't advice anyone to look toward that area.
coolsalm:
Good day Naira
Please i need the help of experienced people and lawyers in the house for purchasing a property in Lagos.
So recently i decided to purchase a property in Lagos at Agbara area, after negotiating the price with the seller i asked for the land documents, the documents which were handed over to me were the Receipt from Original family owner of the land, Survey plan and the deed of assignment,
what i am worried about now is that in the deed of assignment, there is a clause that states that the original family leased the land for 70 years to the person who wants to sell the property to me now, though currently there are flats with tenants on the said land. attached is the image of the deed of assignment.

So please experienced Nairalanders, i need to know if that 70 years clause will affect me in the future before i can decide to proceed with the purchase.

Thanks
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by DAntivirus: 12:04pm On Jul 02, 2016
whirlwind7:


Sorry, asshole. The joke's on you. Go to the first page to check who created the topic.
You're no different from the rest of them dumb fvcks who keep quoting me since yesterday, thinking i'm the one asking for advice.
Little wonder everyone is getting dumber nowadays. Look who's calling who dumb. sad

I wouldn't even need advice from the likes of you, who couldn't differentiate his dick from his cell phone.




Kindly check the first page of this thread to realize you're backing up the wrong tree. I didn't create the topic, wasn't the one asking for advice.
What do you guys have a brain and a pair of eyes for? Quit mentioning me. Geez!

I can see her hand in all dis dude... U broke her heart, now she's after u grin
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Kentmoret(m): 3:05am On Jul 04, 2016
whirlwind7:
Go with caution.
I see from the document the words "lessor" and "lesee" used to address both parties. This clearly shows that the land is under a lease title, and not outright purchase.
Get a good property lawyer to handle this for you, to see if these terms can be amended. Otherwise, avoid it and look elsewhere.
My deeds of assignments usually have the words "donor" and "donee" to refer to the seller and buyer respectively.

Modified: I had to add this to my post.

What is it with guys quoting me since this thread got to front page? I've had so much people quoting me, even cussing me, obviously mistaking me for the OP.
Please stop this nonsense. I don't even see how you guys keep making that error.
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by beesammy(m): 5:36pm On Dec 24, 2021
The holders/owners of such land have freehold interest, this means it belongs to them in perpetuity (bar compulsory acquisition for public use, such as roads etc). This is because the government holds Power of Eminent Domain. I hope I answered your question.

Also, sorry I’m just seeing your reply. Lol

sweatlana:

What of land that was acquired before 1978?
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by beesammy(m): 5:41pm On Dec 24, 2021
The reason is that, in most cases, government has the power to compulsorily acquire any landed property from anyone, IF its intended use is for public use, such as roads, hospitals etc. It is called ‘Power of Eminent Domain’. Public interest will always override personal interest. The property will be valued, and Compensation will be duly paid in accordance with the approved federal government gazette.


baqina:


Going by your "outright owner",why do governments pay compensation for relocation and demolition?

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