Realtor James Dheb

27/10/2024

Understanding the Distinction: Deed of Lease vs. Deed of Agreement

Recognize that these two documents serve unique purposes. To determine which document suits your needs, consider the following:

Deed of lease is for temporary possession (Rental) while deed of agreement is for a property sale and purchase.

Deed of Lease
A Deed of Lease is a contractual agreement between a lessor (landlord) and lessee (tenant) granting the lessee temporary possession and use of a property for a specified period (lease term).

Key features:
1. Lease duration: Typically ranges from 1-99 years.
2. Rent and payment terms: Specifies rent, payment schedule and conditions.
3. Property use: Defines permitted uses of the property.
4. Termination clauses: Outlines conditions for termination.
5. *Renewal and expiration: Addresses renewal options and lease expiration.

Deed of Agreement
A Deed of Agreement, also known as a Deed of Contract or Agreement for Sale, outlines terms for the sale and purchase of a property. Key features:

1. Sale and purchase: Documents the agreement to sell and purchase.
2. Price and payment: Specifies purchase price, payment terms and conditions.
3. Property description: Accurately describes the property.
4. Completion date: Sets the date for transaction completion.
5. Conditions precedent: Lists conditions that must be met before completion.

Key Differences
1. Purpose: Deed of Lease grants temporary possession, while Deed of Agreement facilitates property sale.
2. Duration: Lease agreements have a fixed term, whereas Deeds of Agreement aim for permanent transfer.
3. Ownership: Lease agreements do not transfer ownership, whereas Deeds of Agreement result in ownership change.
4. Obligations: Lease agreements emphasize rental obligations, whereas Deeds of Agreement focus on sale and purchase terms.

In summary, a Deed of Lease governs rental agreements, while a Deed of Agreement facilitates property sales.

------------------------ Realtor James Dheb

30/09/2024

Hurry and get your slice of Earth in this our estate before price increases.
Contact 07087110000

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02/09/2024

Plots of Land available in these locations in Benin city:

✓Upper airport road
✓Egba community, Auchi by-pass
✓Ekiadolor

Price of Land in these locations ranges from 600k to 700k.

Contact me on 07087110000 to get your own slice of Earth in choicest locations in the city.

27/08/2024

Everything you need to know about the C of O. We have six different types of C of O. A must read 👇👇👇

❗Pls help me, Lawyer don do me wayo ❗

I have a property in Epe and I called a lawyer to help me process the C of O.

Atanda, my C of O was ready last week and the lawyer brought Agricultural C of O for me.

Atanda, I no be farmer and na house I build, which one come be Agricultural C of O for my house

My Reply;

The lawyer did not do you any wayo sir, na you go build house for where Government allocate for farming.

Many people are not aware that we have Six different type of C of O in Nigeria.
Well, Atanda will tell you today and this is a very important information you need to know before buying a Land.

1. Residential C of O, also known as Individual C of O.

You only get this kind of C of O, if you buy Land where Government allocated for people to build houses and the C of O is valid for only 99 years. After 99 years e go expire.

2. Agricultural C of O

You get this kind of C of O if you buy land where Government allocated the land for the main purpose of farming, if you like build hotel or anything, na agricultural C of O dem go give you cos na farming dem say make u do for there...but over sabi don make you go build house there.

This C of O is valid for only 25 to 28 years.

3. Industrial C of O

You get this kind of C of O if you buy land in the area Government allocated for building industries

4. Family C of O

Some reputable Omonile Family have their own C of O in their own name and its valid and this type of C of O does not expire. Na for life.

5. Government Allocations
This one is when government use their own hand give you Land or dash you.

6. Excision
If your land dey for village area.
What you will get is Excision

So before you buy land, make sure you do your findings.

Mak you no go buy Land for where Government allocate say make dem build Grave and bury people 😅😅😅

Your ignorance won't save you in the court of Law.

20/08/2024

Owning land in Nigeria comes with its own set of challenges—navigating the tough economic landscape, dealing with the fear of scams, and avoiding issues with omo-onile and unexpected court cases that drain your resources and time.

The last thing you want is to be stuck in lengthy court battles over land disputes, but you also understand the long-term value of owning property.

You've heard about smart ways to secure land, but are unsure because the offers haven’t seemed right and you’re skeptical of deals that sound too good to be true.

If you're wondering when you'll find a trustworthy company/realtor offering irresistible deals that actually deliver, look no further.

I specialize in sourcing for investment opportunities that help individuals like you create and retain wealth through real estate.

For the past 10 years, I've been making lives richer by assisting over 500 clients like yourself to build wealth through carefully selected properties across Nigeria. without the hassle of:

❌ Court Cases
❌ Fraudulent Activity
❌ Omo-Onile Issues

I'm here to guide you through securing land in Nigeria’s prime locations with complete peace of mind.
My experience has guided me in helping Nigerians secure land with complete peace of mind.

18/08/2024

6 Steps Before Buying Land

Step 1: Obtain a Copy of the Title

When a real estate agent or landowner offers a property for sale, the first step is to get a copy of the land title.
Investigate at the Register of Deeds using this copy to ensure the land is free of encumbrances such as mortgages, claims, or other issues. Verify that the copy matches exactly with the records at the Register of Deeds to confirm it is genuine and problem-free.

Step 2: Conduct a Relocation Survey

Hire a Geodetic Engineer to conduct a relocation survey of the land boundaries.
Ensure there are no structures or fences from adjacent lots encroaching on the property you intend to buy.

Step 3: Execute a Deed of Sale

If the land is problem-free, proceed to execute a Deed of Sale or "Contract of Sale".
Both the seller and buyer must sign the contract, and it must be notarized.

Step 4: Pay Documentary Stamps

Within one month from the notarization of the Deed of Sale, pay the Documentary Stamps.
This is a crucial payment that must be made promptly to avoid complications.

Step 5: Pay Capital Gains Tax

The seller must pay the Capital Gains Tax to the BIR (Bureau of Internal Revenue) because they earned from the sale.
The BIR will issue a Certificate of Authority to Register, certifying that all taxes have been paid and authorizing the transfer of the title to the buyer.

Step 6: Transfer Fees and Title Transfer

Once you have the Certificate of Authority to Register, take it to the Register of Deeds.
Pay the Transfer Fees, which are relatively inexpensive.

The Register of Deeds will surrender the Owner’s Copy of the title, and you will need to wait for the title transfer process to be completed. Continuous follow-up is necessary because the process at the Register of Deeds can take some time.

Following these steps ensures that the land purchase process is smooth and free from legal issues.

16/08/2024

16/08/2024

IF YOU NEVER GET LAND, YOU NEVER LAND!

16/08/2024

Smart people make smart decisions.

Investing in our new Estate at EKIADOLOR COMMUNITY is a smart investment.

Remember this is prelaunch, take position early and secure your future.

Click on the WhatsApp link let's discuss properties
👇👇👇👇

https://chat.whatsapp.com/EXX6vCmCY6S6EhloPqbNxN