THE DOCUMENT TO PREPARE WHEN YOU BUY LAND WITH C OF O

THE DOCUMENT TO PREPARE WHEN YOU BUY LAND WITH C OF O

Owning a property with a Certificate of Occupancy (C of O) is great and transferring that ownership to someone else requires the use of a Deed of Assignment.

In Nigeria, a C of O proves that the government has granted rights over the land to the holder.

But when the owner decides to sell or transfer that land, the C of O, the law requires that you get an experienced  Property Lawyer to prepare a Deed of Assignment, which is a legal document that formally transfers the seller’s rights and ownership of the land to the buyer (new owner).

Think of it like a car. The C of O is the car’s license, but if you sell the car, you must hand over the keys and prepare and sign change of ownership document. In land transactions, that change of ownership is the Deed of Assignment.

It spells out the seller, the buyer, details of the land, history of ownership, agreed price and that the buyer now steps into the shoes of the seller.

The Deed of Assignment must be registered so that Government and the world will recognize the buyer as the new rightful owner. Without it, the C of O remains in the seller’s name in official records and the buyer’s ownership is shaky.

So if you are buying land that already has a C of O, get a Property Lawyer to prepare a Deed of Assignment to transfer ownership from the seller to you.

That is the legal proof that ownership has moved to you.

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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