Buying land in Nigeria is a major investment, but neglecting the verification of title documents can turn your dream into a nightmare.
Imagine losing your hard-earned money because the land you bought wasn’t properly documented or legally owned. Let me share a story to emphasize why verifying title documents is non-negotiable.
Grace, a young entrepreneur in Lagos, saved for years to buy her first plot of land. The seller seemed trustworthy, and the price was reasonable, so she paid without verifying. Excitedly, she started building her dream home. A few months later, government officials marked the property for demolition. It was part of a government-acquired area for a future project.
Grace not only lost her money but also the structure she had already begun. Her loss could have been avoided with proper verification of the title documents because verification ensures the following:
1. Confirms Ownership
Title document verification shows firsthand that the seller is the rightful owner of the land. Without this, you risk buying land from fraudsters or family members who aren’t authorized to sell.
2. Protects You from Government-Acquired Land
Some lands are under government acquisition and cannot legally be sold or developed. Using the title document provided by the supposed owner of the property, you can verify with the relevant authorities to ensure the land is free from such encumbrances.
3. Eases Resale and Development.
On provision of Authentic title documents, like a Deed of Conveyance/ Assignment, Certificate of Occupancy (C of O), a buyer’s fear is allayed and this expedites the sales process.
While there might be imminent risks synonymous with property transactions, doing your due diligence might just be what you need to escape the snares of property fraudsters
