Home Article What You Need To Know Before Buying That Land

What You Need To Know Before Buying That Land

Sometimes ago a client of mine (Wale) complained bitterly about how he was duped (in the year 2008) of his hard earned money by some fraudsters or the so called Omo onile (as they are popularly referred
to in Yoruba language) while trying to purchase a parcel of land for himself.

Wale had been a very diligent and meticulous chap with a good taste for life. At that material time, he had just had a breakthrough in his business and was determined to spend his fortune wisely by embarking on his house project to liberate him from the Landlord/Tenant palaver.

His dream to own his house however is yet to come through till now, all thanks to the so called Omo-oniles. What a lofty plan Wale had but same was short-lived. I believe this story is not new to you, as you must
have heard someone else share this kind of experience with you or worse still, you had once been in Wale’s shoes.

My friend, it is on this basis that I write to you to inform you that purchasing a genuine land does not necessarily have to be a herculean task, leaving you at the mercy of luck. More often than not, land
buyers do not fall victim of fraudsters or Omo-oniles because of their smartness, rather, one falls victim as a result of either of these two things:-
Ignorance of the extant rules and procedures for land purchase.
Disregard for observance of the extant rules and procedures for land purchase.

Friend, I deem it important to share with you these so called extant rules and procedures, which I believe will guide you as you take a decision to purchase your own parcel of land. The unwritten extant
rules include:
Carrying out a Chart of the land at the State’s Bureau of Land to confirm if same is free from government acquisition.
Conducting a search at the State’s Bureau of Land to confirm the legal status of the land as well as the ownership, if same has been registered.
Conducting an independent field enquiry to confirm the real owner(s) of the land.
Conducting an interview with the real owner(s) to confirm valid title root.
Conducting an interview with the real owner(s) to confirm the status of ownership whether individual or joint ownership.

Conducting an interview with the real owner(s) to confirm if there are any existing covenant(s) or peculiar custom/tradition applicable to the land.

Conducting an interview with the real owner(s) to extract relevant information necessary for the preparation of a valid Deed of Conveyance or any other title document depending on the peculiarity of the transaction.

Preparation of valid and relevant title documents with the inclusion of standard covenants that will protect the buyer in case of defect in title of seller.

Payment to be made at the same time the agreement papers are signed by both parties with a clear video coverage of the transaction.

Please be informed that the above mentioned rules are not exhaustive of the to-do list and their application may not be as simple as mentioned above for an unskilled person when on the field. Therefore, it is expedient that you do the under listed if you wish to take full advantage of the above guidelines.

Firstly, you must know and acknowledge that there are professionals in the aspect of land purchase with hands-on experience in the application of the extant rules and procedures (at the different stages of the rule) and they are readily available to assist you. These professionals include: Surveyors and Legal Practitioners.

Secondly, it is wise that you engage the services of these professionals who can effortlessly detect any anomaly at each stage of the rule, thereby cancelling a defective transaction or ultimately securing for you a safe delivery of your expectation of procuring a flawless and an unencumbered title in your desired parcel of land. So my friend, having discussed thus far with you, I am convinced that you have been enlightened as to what to do when you are set to purchase your land and unlike other ignorant persons you should not fall victim of the fraudsters or Omo-oniles except you choose to disregard the
observance of the unwritten extant rules and procedures for land purchase.

This article is from the stables of CURATORES PROPERTIES & FACILITIES. A property management and maintenance company with vast experience in Administration, Sales, Purchase, Lease, Management and Maintenance of your landed properties. For further discussions, contact us at: 56, Surulere Street, Off-Pepsi Junction, Quarry, Abeokuta, Ogun State Tel: 07038634637 or 08185264226 Motto: “….. Maintaining your property for posterity”.

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