PAYMENT FOR LAND/BUILDING IS NOT OWNERSHIP

PAYMENT FOR LAND/BUILDING IS NOT OWNERSHIP

When buying land or house, paying money is not enough. Ownership of land/building requires more than making payment for bush entry and even paying for the land itself.

In Nigeria, one of the biggest mistakes buyers make is believing that once they pay they become the land/building owner. It is not so.

Land or building ownership is not about receipts, witnesses or possession. It is about legal proof: verifiable and legally recognized proof.

Before you even pay, you must get a Property and Real Estate Lawyer to conduct comprehensive due diligence (investigation) on the property.

And if the result of the due diligence shows that the property is clean, until your name appears on the right land/building purchase documents prepared by a Property Lawyer, properly signed, stamped and registered, what you think you own may still legally belong to someone else.

A seller can collect your money and still retain legal control if the transfer of ownership is not perfected.

Another person with better legal documentation can emerge and lawfully take priority over you. Courts do not decide who truly owns land/house based on who paid first. Rather, they rely on who can prove ownership.

Do not celebrate too early because you paid for land. Celebrate when your ownership is legally secured and fully documented.

In Nigeria you do not truly own land or building until you comply with property laws.

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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