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Checklist For Property Acquisition In Lagos And Abuja - Properties - Nairaland

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Can A Certificate Of Occupancy Legalize An Illegal Property Acquisition? / Land Acquisition In Nigeria: Procedure And Requirements. / Documents Required For Property Transfer In Nigeria (2) (3) (4)

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Checklist For Property Acquisition In Lagos And Abuja by wellsprings: 10:52am On May 14, 2020
As a lawyer dealing in real estate matters, I have had the opportunities to advise many clients on the things to ask for when intending to purchase land or house in Lagos, Abuja, Port Harcourt or anywhere else in Nigeria. Many innocent people have been defrauded of their hard earned money all because they fail to conduct the necessary preliminary checks before paying for a prospective property. To be guided against these scammers, I made a checklist for your protection. The check-list are outlined below:

1. Availability and Readiness To Sell: It is important to KNOW that not all properties or land advertised for sale are ACTUALLY for sale. Many properties like these are common in Lagos metropolis carrying the notice "HOUSE FOR SALE", which in real terms are actually dud (scam) properties whose owners have no plans to sell. Before you pay for a property you must have conducted necessary SEARCH at Lands Registry in Alausa and also do community fact-finding to confirm the claims of the advertisers. For instance, in the case of family land or property, it is IMPORTANT that the HEAD OF FAMILY must sign the deed of assignment that will be given to the buyer. It is also good to conduct search to know if the land is not under government acquisition. Once you confirm the availability and willingness and readiness of the owner to sell, next you ask for title documents on the property in view.

2. Size and location of Land: In the case of land, it is important to ask and confirm the size of the land for sale. This is done by a surveyor or architect so that it is confirmed that the size advertised matches with the physical land being presented for sale. Land sizes in Lagos State comes in various sizes like 600 sqm, 500 sqm , 300 sqm ranges but it can also be in acres (6 plots) or in Hectares (6 acres) or even in smaller ranges like 25 by 80, 40 by 100, quarter of a plot etc. The location and size of land for sale usually corresponds to the price it will offered. A land in a developed area like a gated estate in the Lagos or Abuja metropolis will have a higher value (and price) compared to same land in outskirt or place like townships in Ogun State. Overall, size and location of land determines the value and price.

3. Title Documents: There is no land or property without a title. This is because ownership of land or property is asserted by proof of title. A title document of a land could be family receipt, deed of assignment or conveyance, Survey Plan, C of O, Excision Gazette, Will. Never should you accept a purchase of land on a word-of-mouth- title like “The land belongs to my father or it is my dead uncle that willed it to me”. As a matter of fact, it is advisable to have a lawyer with you to help you verify these claims. The title document(s) is what will be transferred by the seller to the new buyer as evidence of new ownership. (It is important to conduct search on the title claim too so as to be on safe side)


4. Transfer of Document and Post Sale activities: After confirmation of land title, size and location, payment to the owner and collection of receipt, there are post acquisition activities like preparing a deed of assignment that your lawyer would handle. You will also need to obtain a survey plan and make application for Certificate of Occupancy in your name.

Acquiring landed properties in Nigeria is a commercial activity that must be well coordinated, advisably by a professional who has his integrity and expertise to use for the best interest of the client. It is an expensive venture that you cannot afford to patronise quacks for because many criminals mask as estate agents to defraud innocent people. Be guided please.

As a lawyer who have helped many clients purchase and manage their land assets portfolio, I can assist you achieve this great feat. Give me a call.

Thanks for reading

Barr. Wale
LAW OFFICE, ALAUSA IKEJA
07033763276/07058584237


Rent or buy your dream house without hassles

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