ENSURE YOUR PURCHASE AGREEMENT IS IN WRITING

ENSURE YOUR PURCHASE AGREEMENT IS IN WRITING

Many people in Nigeria enter hire purchase deals for cars, buses, Keke NAPEP, other vehicles, equipment and assets based on trust, oral promises, text messages or Whatsapp chats.

That mistake has badly affected investments, businesses and dragged many people into wahala.

The law is that a Hire Purchase Agreement must be in writing for you to enjoy proper legal protection.

Without a written agreement, proving payment terms, conditions, payment duration, default clauses, repossession rights or ownership transfer duties can be very difficult.

One person may suddenly change the story, deny earlier promises or unlawfully seize the property. Without proper documentation, you are exposed to serious legal and financial risk.

A well drafted Hire Purchase Agreement states who owns the property, how payments will be made, what happens upon breach of agreement, when ownership will be transfered and the rights of each parties.

It protects both the seller and the buyer from avoidable confusion.

So engage an experienced Property/Real Estate and Business/Corporate Lawyer before entering such transactions. Avoid poorly prepared Agreement or copied internet template.

Experienced law firms like Apex Chambers understand the legal and practical dangers in hire purchase transactions and help clients structure Agreements that are enforceable, protective and legally sound.

In business and property matters, assumption is dangerous.

Get a Lawyer.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

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