WHO GETS COPIES OF YOUR LAND/BUILDING PURCHASE DOCUMENT

WHO GETS COPIES OF YOUR LAND/BUILDING PURCHASE DOCUMENT

The land/building was paid for, the documents were signed and the buyer was happy, convinced that the transaction was complete.

Three years later, he found a willing buyer. The price was good, everything seemed perfect until a question was asked:
“where are the seller’s original ownership documents?”

The buyer had his purchase agreement, receipts and a survey plan. But he never collected the original documents relating to the seller’s ownership when he bought the property.

This is a mistake many land/building buyers make in Nigeria.

People often focus on payment, possession and fencing the land. Very few pay attention to the proper distribution of original land purchase documents or the importance of taking the seller’s original ownership documents where the buyer is buying all the land.

Those documents show the chain of ownership and are important when selling, registering, gifting, developing or defending ownership of the land/building.

The risk is greater for Nigerians in the diaspora who rely on relatives or agents to conclude transactions on their behalf.

A transaction may appear successful today but become complicated years later because necessary documents were not collected.

This is why land/building purchase should be guided by an experienced Property and Real Estate Lawyer.

Legal guidance ensures that important documents are identified, collected, shared correctly and well preserved.

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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