3 Ways To Know The If A Land Is Legit And Real In Nigeria – ways to know the land you’re buying now would pose huge problems in the future
One of the thriving businesses in Nigeria is real estate. Every day, we see various beautiful edifices being built and we get approached by numerous marketers flashing sweet deals in our faces to magnetize potential customers. Many people enter into property transactions without bearing in mind certain important things or having an idea of the implications that certain actions might have regarding their ownership of land. Listed below are some of the ways to know if you’re buying land that may give you concern in a couple of years. They include but are not limited to:
Failing to conduct due diligence on the land; Due diligence majorly refers to investigations made on a particular item or thing with an aim to finding out if there is any defect on that item or thing. Before you purchase a land, the first thing to do regarding that land is to make inquiries into everything that relates to that land. Ways to go about this include: going to the site in question for physical inspection, conducting a search on the land at the Ministry of Lands in the state the land is situated, finding out the root of title of the vendor, e.t.c
In the case of family land, not getting the consent of the principal members of the family
To purchase land that belongs to a family, one important requirement that can affect the legality of your transaction is if the consent of the principal members of that family is not sought. Your ownership of a particular land can be questioned and eventually nullified if the family head and other important members of that family do not authorize the sale of that land.
Not engaging the services of a property lawyer; One grave mistake a purchaser of a land can
make is to buy land without having a lawyer present to represent his interests. When preparing a land agreement or a deed of assignment, such should be done by a legal practitioner as they are the only ones with the power to prepare documents of conveyance. Documents prepared at cyber cafes, computer centers, or drafted by any person other than a lawyer would automatically render the land transaction void. Thus, it is important to consult a qualified lawyer before taking the huge step of becoming a land owner.
It is important to note that other factors could influence the possibility of land becoming a problem in the future. That is why it is advisable to employ the services of a legal practitioner before taking the huge step of becoming a land owner.