ASK FOR CLEAN RECEIPT OF PAYMENT

ASK FOR CLEAN RECEIPT OF PAYMENT

When you are buying  land or building and you make payment through bank channels and the payment is confirmed, demand for and receive payment receipt from the seller.

The receipt is your evidence of payment for the land. Don’t accept to be issued a payment receipt later. Receipts are issued at the time of payment, not later.

Whether it is hand-written or typed receipt, the land/building buyer should ensure it is signed and dated by both him and the seller and that the said receipt clearly states the details of the seller and the buyer, and also describes the purpose and details of payment made.

Corrections and cancellations in receipts are not allowed, even if a signature of the correcting party is made beside the detail corrected.

Where corrections and amendments are made on the payment receipt, it is your duty as the buyer to request for a replacement with a clean copy, as such cancellation or correction may work against the buyer.

Arguments may arise from the cancellation made, even if it was made in good faith at the time. The buyer should be given an original (counterpart) copy of the payment receipt.

If the receipt comes in two copies (original copy and carbon copy) the buyer is entitled to the original copy while the seller keeps the carbon copy.

Be sure to keep the receipt safe and in good condition.
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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