IF YOU WANT TO PAY FOR LAND/BUILDING IN INSTALMENTS, HAVE A CONTRACT OF SALE OF LAND

IF YOU WANT TO PAY FOR LAND/BUILDING IN INSTALMENTS, HAVE A CONTRACT OF SALE OF LAND

Many land/building buyers in Nigeria lose buying their dream property not because they were careless, but because they failed to have a Contract of Sale of Land.

This important legal document protects a buyer who is paying in instalments from being cheated, sidelined or thrown into confusion after paying part of the money.

A Contract of Sale of Land is the formal agreement that comes before the Deed of Conveyance (for land with no C of O) or Deed of Assignment (for land with C of O).

It clearly states every term of the transaction: the agreed purchase price; the instalment payment plan; the completion date and other conditions that must be met before ownership is finally transferred.

Its most important purpose is legal protection. Once a Contract of Sale of Land is signed, the seller cannot cancel the sale or resell the land to another person during the agreed period, as long as the buyer keeps paying as scheduled.

Without this contract, the buyer risks having the seller terminate the transaction if the seller changes his mind midway.

A proper Contract of Sale prepared by a Property Lawyer gives the buyer legal power to demand completion of the sale once the final payment is made, paving the way for the preparation of the Deed of Assignment or Deed of Conveyance.

It is your legal protection against betrayal, loss and regret.

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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 with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com