₦airaland Forum

MelaninGemstone:
The law, please what is the difference between deed of assignment and deed of agreement

Treash:
It's not a doubt that influx of property sellers are increasing, especially in developing part of Nigeria: Lagos, Port-Harcourt, and FCT. The sudden wake of property developers, estate agents and related persons can not also be overemphasized. However, it's quite noteworthy that court registries keep receiving fresh lawsuits between parties to lands as a result of communal clash of land ownership, impersonation of title owners, and fraud. Most of the incidences, however are effect of lack of sufficient due diligence on the part of property buyers.

I was briefed by a Nairalander how his hard earned property in Ogun State worth millions was acquired by a judgement creditor, whereas he never knew there was any pending case in court until the copy of the court order was pasted in the house. The best advice a rational person could give is to appeal to the higher court, but nevertheless, the judgement of that court is still valid until it is set aside on apeal. Property verification is essential in your quest to acquire one. Several land buyers have become homeless as a result of court order, government acquisition status and sale to multiple buyers on fraud.

It is however expedient that after verification is confirmed positive, such a buyer can go ahead to register his property with the appropriate government registry immediately purchase is done; due to the fact that the first in time prevails in equity.

Barr Ayo Adeolu Aderinto, 08068088866

Treash:
A lot of people seems to prefer buying their future homes either in a newly proposed estate or an ongoing one. It is obviously not a bad idea, especially in Nigeria where governments are yet to provide necessary infrastructures such as water, electricity and most important roads in existing or old neighbourhood. However,there are legal precautions everyone aspiring to buy a building or land from private developers should be aware of. These are:

1. First, anyone purchasing a property from a private developer should not just make payment blindly. It is better to engage the service of a lawyer to help trace and search the title of the property one intends to purchase. Recall that 37 Estates were marked for demolition by the Abuja Metropolitan Management Council (AMMC).

2. Another precaution is that it a prospective buyer should seek to perfect his or her own title immediately after purchase. According to the law, Governor’s consent is required in every state for a property transfer from one owner to another. A buyer’s failure to perfect his title is as good as no lawful transfer of property has taken place among the parties.

3. Furthermore, when a new buyer buying a property from a developer may insist on a contract of sale, especially when a developer is asking such buyer to pay a premium on the land for some proposed infrastructures such as electricity, road network among others. Contract of sale is a preliminary agreement in a land transaction before a deed of assignment. In a situation where the developer is offering a buyer 6 months or 2 years payment’s option, a contract of sale will prevent an arbitrary increase in the purchase price by the developer after receiving a deposit from the buyer.

4. Finally, we would advise that anyone seeking to buy a new home should not do so without a consultant, which is usually a legal practitioner who can properly ascertain the risks associated with such transaction or property in question.

Barr Adeolu Ayo Aderinto.

diggy4real:
Please, can someone comfortably buy a land from an individual that his community allocated land to. I mean this land has no document as it has not been given to anyone or sold before. This person is the first person to be given that land. And the community representative in the Local government is a witness and promises to follow up in the documentation of the papers if it is sold to me.
I need advice here and I am not ready to chat anyone privately, please.

Treash:
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Adeolu Ayo Aderinto.

Yansham:
I purchased land whose title is Excision and I am aware that the process to get the Certificate of Occupancy is ongoing.

I asked the surveyor who surveyed the land to give me evidence that the red copy has been lodged. He said red copies are only lodged when the processing of the Certificate of Occupancy is done. He said this is a new regulation in Lagos.

Please how true is this claim?

studM:
i think this make sense,will give it a shot,do u have anybody there yhat i van reach also?

Virtutis:
Pls, how much is land verification check done in Oyo state?

ShobayoEmma:
Please nairalanders, where a storey building is shared for two children of different mothers, and the mother of one of them is in possession of the house/land documents. How vulnerable is the other party.



And where family shares property of a late father to his children, does the family need to sign any documents in respect to such sharing?