Question: Can a foreigner own a real estate property in Lagos, Nigeria. The simple answer to the question is Yes. A foreigner can own a real estate property in Lagos, Nigeria. However, the rights of a foreigner to own a real estate property in Lagos comes with some limitations. The first limitation is that property ownership in Nigeria no longer exists because the Land Use Act of 1978 abolishes...
A deed of assignment is a document that is often used in real estate transactions in Lagos. But many potential home owners do not understand what it is. Partly because it is prepared by lawyers and filled with legal words. However, as long as you are looking to buy a property in Lagos, you are required to sign a deed of assignment. That's exactly why we are going to take some time to explain what it...
Property documents are important before and after you buy property in Lagos. Before you buy a property, you need a copy of the property documents of the seller to conduct due diligence. By conducting due diligence is how you verify that the person selling to you is the genuine owner of the property. After you buy the property, you need to have the property documents that bear your name show that you are...
Benefits of Hiring A Lawyer Before Buying A Property Many years ago, someone we know who was rich and famous wanted to fulfill his lifelong dream of buying a house for his mum. He contacted an agent and they found the perfect house. He inspected the house, he loved it and then closed the transactions immediately. A few days later his mum moved into the lovely house and it felt like his dream had come...
When you buy a property that already has a certificate of occupancy, then you would need to process or obtain the Governor’s Consent on the property. At the end of the sale transaction, the previous owner would sign a document known as the Deed of Assignment. It is this document that you would need to process the Governors consent upon. Governors consent simply has to do with the stamp of...
Procedure To Obtain A Certificate of Occupancy In Lagos State There is a laid down procedure to obtain a certificate of occupancy in Lagos. The procedure includes payment of fees, submission of documents and follow up on the process. But before discussing the procedure to obtain a certificate of occupancy in Lagos State, let’s answer the question, what is a certificate of occupancy and why is it...
If you are looking to verify a land in Lagos before you purchase, then this article is for you. In this article we would outline the simple steps you need to take to verify that a land is genuine before you purchase. Why do you need to verify a land in Lagos before you purchase? Purchasing land in Lagos can be a risky venture especially for the first-time buyer. Without carrying out the...