WHY YOU NEED A LEGAL ADVICE BEFORE BUYING PROPERTY IN NIGERIA

The duty of a property lawyer in Nigeria is to protect the interest of the parties in any property transaction (i.e. either the Purchaser or the Seller).

CHAMAN LAW FIRM

6/10/2022 3 min read

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WHY YOU NEED A LEGAL ADVICE BEFORE BUYING PROPERTY IN NIGERIA

Buying and selling of properties are very crucial and delicate transactions that need the services of experts like property lawyers. The duty of a property lawyer in Nigeria is to protect the interest of the parties in any property transaction (i.e. either the Purchaser or the Seller).

One very crucial duty of a property lawyer is to give advice to his client who wishes to purchase a property. This is to prevent the client from being scammed and to make the client’s choice easy to make.

It is very disheartening that in Nigeria, there are so many fakes; fake properties, fake owners of properties, fake agents as property buying is the easiest 419 people fall prey to. This has made it difficult to make a wise choice when purchasing a property. A client that is not an expert in real estate will ordinarily not know how to detect a fake property or a property that will not benefit him or fit his desired property.

This is the reason an expert opinion is needed before a client finally makes a choice on the property to purchase. The Lawyer has a lot cut out for him as he has to be knowledgeable enough to detect a property that would not be good enough for his client, or a property that is fake, or an owner that does not have a right to sell the property, or a defective property.

The Lawyer must also be vast in the law of Nigeria to be able to advice his client on his rights as a buyer, what he is to do and what he is not to do.

Many people have been victims when it comes to buying property in Nigeria. Therefore, the services of a lawyer is needed to give advice on various aspects on the buying of a property:

  • The Lawyer is to advise the client to conduct a property search to confirm the validity of the property. This is done by visiting the appropriate government office to confirm the property details.

  • The Lawyer should advise the client to follow due diligence before buying a property. And if defects are detected in the property, the lawyer is to advice the client on what to do.

  • The lawyer is to advise the client to purchase a property designated as ‘Committed’ or ‘under acquisition'.

  • The Lawyer is to advise the buyer on the best way to treat ‘Omoniles’.

  • The Lawyer advises the client on what to do when the property is not free from encumbrances.

  • Advice may include raising issues with the legal element of the title to the land, problem with a land information memorandum (LIM).

  • The Lawyer gives advice on the best course to take when the Vendor’s root of title is defective.

  • The Lawyer is to advise the buyer on the importance of property documents like Survey plan, Deed of Assignment, Certificate of Occupancy, Governor’s consent.

  • Advice on structure ownership, relationship property consideration and complexity around family trusts, guarantees, gifting and insurance.

  • The Lawyer should also give advice on the pest mode of payment and documentation.

  • Where a loan is needed to finance the purchase, the lawyer advises on the best way to go about it or if a loan is the best option at all.

IMPORTANCE OF LEGAL ADVICE

  • The client is protected from fakes.

  • The buyer is prevented from making very costly mistakes.

  • The buyer at the end of the day gets the perfect property that fits his desire.

  • The buyer does not have to waste money on matters that could be avoided.

  • The buyer has a smooth process of buying a property.

  • The Lawyer helps the buyer go through the due process of doing things.

  • The buyer will not fall prey to scammers. · A lot of time will be saved.

  • The probability that conflicts will arise is reduced.

  • The authenticity of documents is guaranteed.

  • Negotiation between the parties are smooth.

In Conclusion, the duty of a lawyer in property purchase cannot be overemphasized as the lawyer is indispensable and can make the purchase of property stress free and credible for a buyer. It is therefore be very important to seek the services of a lawyer before buying a property in a country like Nigeria.

NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact chamanlawfirm@gmail.com

WRITTEN BY CHAMAN LAW FIRM TEAM

EMAIL: chamanlawfirm@gmail.com

TEL: 08065553671, 08024230080