How to Buy your First Home in Nigeria

Posted February 28, 2021 by whod1982

It also shows that any individual who has acquired an interest in the land has been given now a statutory permission of occupancy by the government.
Don’t forget following key procedures and legal requirements while buying home in Nigeria so that you may not face any legal trouble with the property. Only a lawyer can prepare legal documents according to the Nigerian law, and he gets fee for this.

Necessary Documents for Buying Nigeria Property

Buying Nigeria Property requires several essential documents for passing good title to the purchaser. The documents include:

Approved Survey Plan

Approved survey plan shows the actual location and boundaries of the property and also reveals whether the land is under the government acquisition or not. It clears all the doubts about the land.

Deed of Assignment

It’s also a very important document made after the conclusion of any land transaction. It’s prepared by any of the both, the buyer or the seller of the land. It transfers an interest in the form of property from buyer to seller.

Probate and Letter of Administration

If the owner of the property is late in any transaction, the buyer has to request for probate or letter of administration for the property. Any document of the property before his death becomes invalidated after his death to convey the title.

Certificate of Occupancy

It certifies the legal ownership of any property irrespective of its use. It’s delivered by the government attesting to the owner’s interest by following the applicable laws. It also shows that any individual who has acquired an interest in the land has been given now a statutory permission of occupancy by the government.

Governor’s Consent

It’s the approval o f a governor of the state because under the Act of 1978, the transaction of any Nigeria Property is incomplete without this document.

Power of Attorney

When an agent is acting as the owner of the house, this document is required because it allows the agent to act as an owner on the behalf of the real owner of the property.

Steps for Buying Nigeria Property

Here are the some steps to buy Nigerian Property.

• The buyer has to get all the relevant document from the seller regarding property title.

• The buyer has to engage then to a lawyer to investigate the documents.

• The buyer also has to research at the land registry through his solicitor to make sure the property’s title.

• The seller and the buyer can go ahead if the title has been proved a genuine one after the investigation.

• The interest of the property has to be conveyed if the entire sum is paid.

• The buyer then has to go to perfect the tile of the land property with the land registry to finalize the whole transaction.

It’s a smart thing to involve a lawyer while buying Nigeria Property because his responsibilities are all-encompassing. After hiring a lawyer, now it’s his role to play in preparing the property contract. The lawyer is to save you from any legal trouble because you don’t want to face any legal problems even you have paid for this.

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Issued By Nigeria Property
Country United States
Categories Business
Tags nigeria property
Last Updated February 28, 2021