04/08/2022
Avoid Being Scammed: Common Documents That Every Nigerian Real Estate Investor Should Have Before Buying Any Land in Nigeria
As a real estate investor, before you consider any deal, it is important that you do your research.
One of the most important things to seek in your research … especially in Nigeria is how authentic a deal is.
This is because, many people have lost their hard-earned money when they failed to look closely through research.
The most assured way to be sure about an authentic deal is with the documents associated with that property.
Here are the most common ones that you should know about
DEED OF ASSIGNMENTS:
A deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to that the Seller that has just bought land.
The person or Seller who transfers his rights or interests in that property is usually called the Assignor and the person who receives such right or interest from the Seller is called the Assignee.
The deed contains very important information for a real estate transaction.
1. It shows the date when the ownership of the property transfers from one owner to the other.
2. It gives a detailed description of the property that is included in the transfer of ownership.
3. when the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction. Such recorded Deed of Assignment come in the form of either a Governor’s consent or registered conveyance.
Image: Sample Deed of Assignment in Nigeria
Image credit: Omonile lawyer
