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Role Of Solicitors In Property Practice - Properties - Nairaland

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Role Of Solicitors In Property Practice by PropertyLawyer(m): 8:38am On Sep 25, 2018
One major role of a Solicitor in property law practice is the Conveyancing process of transferring and vesting of interest in land from one party to another. The practice of property law involves all those steps or things a Solicitor does, that commences with the investigation of title sought to be transferred, preparation of the formal contract by the seller's solicitor, approval of the contract by the purchaser's solicitor and exchange of contract, preparation of the deed or transfer instrument, payment of stamp duties and registration. The role of a Solicitor property law practice in Nigeria may come under the following areas :

1) Investigation of title sought to be transferred of the property. The investigation maybe conducted in any of the registries where the property is to be located. It is the obligation of the Solicitor conducting a search of title to be diligent to note matters that are relevant to the title and to correctly make a record of these matters for the purposes of advising the client.

2) Advising on the viability or otherwise of the title of the property sought to be transferred. This responsibility is important because the advice given determines whether or not the parties would proceed with the transaction.

3) Preparation of the formal contract by seller's Solicitor that encapsulates the agreement of the parties in respect of the property that is being transferred. Excellent drafting skills are required for this to ensure that the document reflects the full intention of the parties.

4) Approval of the contract by the Solicitor of the purchaser.

5) Exchange of the contract by the parties to the contract.

6) Obtaining the consent of the relevant authorities for permission to transfer the legal interest in the property. The prior consent of the Governor of a State for example, is mandatory for the transfer of the legal interest in a property.

7) Preparing and ensuring the execution of the deed or the instrument that transfers the legal interest in the property.

cool Payment of stamp duties and other taxes in respect of the property being transferred.

9) Registration of the instrument that conveys the legal interest in the land.

10) Finally, the Solicitor forwards the papers and final documents in respect of the transaction to the parties and winds up the transaction.

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