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How to Safely Acquire Landed Property (Helpful Legal Hints)



Unfortunately, some people part with their hard earned money of which the legal and factual status they knew nothing about because they throw away caution any patience whenever they wish to purchase landed property and of course they end up litigation and ever lingering problem which some time surface immediately after payment, most of those problems are avoidable if you follow some of the hints provided below:

A.     RIGHT ATTITUDE

                     i.            Never be in a hurry to acquire or part with your money, it’s advisable to do the   right  thing even if it will cost you the transaction, count if it’s for good, no regret.
                         
     ii.            Don’t ever assume, be sure what you want is what you get.
                         
   iii.            Beware of those agent who say “trust me now”
                        
    iv.            Investigate every offer, if need be engage a professional to do that
                            
    v.            Be wary with property with unusually low price.


B.      INVESTIGATE THE PROPERTY THAT IS OFFERED TO YOU

There are many ways to investigate or conduct search over a property that is offered for sale.
Remember the aims of your investigations are:


              i.            To reveal the genuineness or otherwise of the offer.

 ii.            To reveal the actual title in respect of the property, whether its title is a legal one or equitable one, so that you can be put in a better position to understand the risk  that surrounds the property. The title can be documentary or traditional history i.e. family ownership.

 iii.            To reveal the identity and capacity of the seller and see whether there is any nexus between the seller and the property or documents pertaining to it.


  iv.            To reveal whether there is any encumbrance or inhibition on the property or the             right of the seller to sell. Encumbrance can arise from as a result of government acquisition, or court action or mortgage or whether there is a right of a third party over the property or it’s a subject of dispute in any form.

                                    v.         To see whether if you eventually buy the property, your interest in it can be legally  perfected, and secure or not.

                               vi.         To see whether if you eventually buy the property, taking possession will not become a problem.

  vii.         To see whether there are natural or environmental problems (patent or latent) in the neighborhoods of the land which may prevent you easy access or deny you peaceful and quiet enjoyment of the land

 viii.         To reveal the nature of the interest or title of the seller whether it is leasehold or absolute interest.

                     
    
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