WHEN BUYING LAND/BUILDING IN NIGERIA, ASK FOR CLEAN PAYMENT RECEIPT

WHEN BUYING LAND/BUILDING IN NIGERIA, ASK FOR CLEAN PAYMENT RECEIPT

When you pay for land or house in Nigeria through bank channels, demand for and receive payment receipt on confirmation of the payment by the seller.

The receipt is your evidence of payment for the land. Do not accept to be issued such payment receipt later. The receipt should be issued at the time of payment.

Whether it is hand-written or typed, the land/building buyer should ensure it is duly signed and dated by both himself and the seller and that the receipt clearly has the details of the seller and the buyer, and also describes the purpose and details of payment made.

Mutilations and cancellations in receipts are not permissible, even if a signature of the correcting party is made beside the detail corrected.

Where any correction or and amendment is made on the payment receipt, it is the buyer’s duty to demand for a replacement with a clean copy, as such cancellation or correction may work against the buyer.

Arguments may arise from the cancellation made, even if it was made without bad intentions at the time.

The buyer should be given an original copy of the payment receipt. If the receipt comes in two copies (original copy and carbon copy), the buyer is entitled to the original copy while the seller keeps the carbon copy.

Ensure you keep the receipt safe and in good condition.

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