Family owned property,Common problems when buying

If it is a family property, you need to be extra careful here, problems that are common with family property are:

I. Problems arising from illiteracy-future denial of sale.

II. Dispute/ legal tussle/protracted court action that may not be known to you at the time you are buying,

III. There may be several branches in that family and all of them must consent to it otherwise the sale will likely be vitiated in future.

IV. Necessary signatures such as that of the family head and principal member or lack of authority of the family to sell.

V. Argument of the dimension of land sold.

VI. Boundary dispute.

So whenever you discover that the property you have interest in is a family property, you need to be patient and careful.

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