PAY FOR LAND/BUILDING THROUGH BANK CHANNELS ONLY

PAY FOR LAND/BUILDING THROUGH BANK CHANNELS ONLY

While making payment for land or house, ensure you do so through bank channels and platforms. That is banking hall, online transfer, bank draft or cheque.

This will provide the necessary evidence (reflected in your bank statement) that you will need to prove you made payment.

Making land/house purchase payment with cash should be avoided by all means. In fact, it should be included in 1,000 ways to die.

Even if you have cash at hand, pay through the bank and indicate in the payment narration that the payment is for land or house. The bank’s records are very
good safeguards in the event of the need for you to prove payment for land or building.

Even if you will be issued a receipt, making payment with cash is a wrong move. Don’t do it. It leaves you vulnerable to the land seller or his representatives.

The authenticity of the receipt could even be challenged. An insincere seller could deny the cash payment, leaving you frustrated.

Trust is an expensive luxury you cannot afford. Do not give the seller the benefit of the doubt. It is a business transaction, not a friendship or family affair.

It is serious business and must be treated as such. Secure your property interests and try not to sacrifice your financial and investment interests on the altar of trust, friendship or familiarity.
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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