Many land buyers in Nigeria are making big mistakes and they do not even know it.
By law, once you buy land you should pay stamp duty and register it within one year.
If you miss it, you there is penalty for late registration and also full registration fee.
But there is more.
If your land document is not stamped and registered, the court will may recognize it as proof of ownership. It will only treat it as a receipt, not evidence of ownership.
So you can forfeit the land in a dispute, and the court will say: “here is your money back, the exact sum you paid.”
Even if the land is now worth 20 times more. This is avoidable.
This ignorance is widespread.
Sadly, the system is flooded with touts and fake agents who forge stamp duty papers and fake registrations. Many buyers discover too late that what they paid for is legally worthless.
In land matters documents do not just speak; they win or affect your case.
We advise you register land immediately you buy it. If not, you may forget.
So get a Property/Real Estate Lawyer to do your land registration and help protect your land with genuine registration that holds up anywhere, not fake paper that will affect you when it matters most.
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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate /Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public in Port Harcourt, Rivers State, Nigeria