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Why u Need A Lawyer When Closing A Land Transaction (part 1)by ibejulekkilawyer - Properties - Nairaland

Nairaland Forum / Nairaland / General / Properties / Why u Need A Lawyer When Closing A Land Transaction (part 1)by ibejulekkilawyer (539 Views)

One Important Question You Must Ask Before Concluding A Land Transaction / Why You Need A Lawyer When Closing A Land Transaction (part 2) (2) (3) (4)

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Why u Need A Lawyer When Closing A Land Transaction (part 1)by ibejulekkilawyer by phosky(m): 7:59am On Aug 18, 2016
One of the numerous mistakes made by land buyers is pretending they do not have to bother with any legal advice or guidance when they want to purchase a land or property. A property lawyer is trained to handle any issue that emerges in a land transaction that usually, the land buyer won’t recognize. In a typical land purchase transaction, the buyer goes into an agreement with a real estate agent to buy a land. At the point when the agent finds a potential dealer, transactions are led through the agent as a third party between the buyer and the seller. Once an informal understanding is achieved, the purchaser and seller go into a contract of Sale agreement for exchange and transfer of title, et cetera. Finally, the property is exchanged from the seller to the buyer. This appears to be simple, however without a lawyer, the outcome may be disastrous and heartbreaking.

WHY DO YOU NEED TO INVOLVE A LAWYER WHEN CLOSING A LAND TRANSACTION.

It is a common practice in Nigeria that people draw up documents without the aid of a lawyer. The Supreme Court has declared that lawyers in Nigeria must affix the Nigerian Bar Association (NBA) Stamp and Seal on any legal document that they in­tend to tender for legal transac­tions. Every document filed by a lawyer shall be deemed to be improperly signed and filed except it has the stamp issued by the Nigeria Bar Association. The effect of this statement is that anyone who is not a certified lawyer can not draft a legal document. This act will reestablish sanity and stop the procedure of individuals who have no clue on legitimate document drafting from working. it will also allow innocent buyers detect fraudulent individuals posing as lawyers from tendering a fake document.

Read full article here : http://www.ibejulekkilawyer.com/why-you-need-a-lawyer-when-closing-a-land-transaction-part-1/

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