At Apex Chambers, best Law Firm of Property/Real Estate & Business/Commercial Lawyers, we advise that whenever you make payment for land through bank channels, demand for & receive payment receipt upon the confirmation of such payment by the seller.
The receipt is your evidence of payment for the land. Don’t accept to be issued such payment receipt later in time. Ideally, receipts are issued at the time of payment.
Whether it is hand-written or typed out, the buyer should ensure it is duly signed and dated by both him and the seller and that the receipt clearly states the details of the seller and those of 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.
In the event of any corrections and amendments on the face of 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 bona fides (in good faith) at the time. The buyer should be given an original (counterpart) 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 vendor keeps the carbon copy. Be sure to keep the receipt safe and in good condition.
If you need help with any Property/Real Estate and Business/Commercial transaction or matter, call or Whatsapp Apex Chambers, best Law Firm of very experienced Property/Real Estate and Business/Commercial Lawyers, Barristers, Solicitors, Advocates, Attorneys and Notary Public near you in Port Harcourt, Rivers State, Nigeria, anyday, anytime and from any part of the world on +2347030868694.