HAVE AN INDEMNITY CLAUSE IN YOUR LAND/HOUSE PURCHASE DOCUMENT

HAVE AN INDEMNITY CLAUSE IN YOUR LAND/HOUSE PURCHASE DOCUMENT

An indemnity clause is a term in a land or house buying Agreement where the seller confirms that the land or house is his own and that there are no legal issues affecting the land/building.

It includes a confirmation that the Deed (land/house purchase document) fully transfers ownership from him to the buyer, and that he (the seller) agrees to pay for losses or damage to the buyer due to ownership claims or other interest on the land or house by a third party arising from his negligence or his not disclosing facts which would lead to the buyer losing the land or house.

An indemnity clause ensures that the seller has a duty to refund the purchase price and other money spent on the land or house by the buyer.

The point being made here is that every land purchase document should have an indemnity clause in it.

An indemnity clause is important because where the seller turns out not to be the true owner of the land, it becomes a case of fraud and the seller automatically attracts criminal liability to himself.

So ensure you have an indemnity clause in land/building purchase document to secure your investment and developments on it.

Do not buy land or building without legal protection.

Let the indemnity clause be your legal bulletproof vest.
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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)
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