Understanding Property Law and Land Acquisition in Nigeria

Property transactions in Nigeria can be complex, with potential risks ranging from fraudulent titles to regulatory challenges. At McGuire’s Legal Consult, we offer expert guidance to ensure your property dealings are secure and legally sound. Here’s what you need to know:

Key Considerations in Land Acquisition

1. Conduct Due Diligence

• Due Diligence: A thorough investigation to verify the property’s legal status, ownership, and any encumbrances (legal claims or liabilities attached to the property).
• Land Registry: The government office where property titles and transactions are recorded.

Check for:

• Authenticity of title documents
• Existing disputes or litigation
• Government acquisition or restrictions

2. Engage Professionals

• Legal Practitioner: A qualified lawyer who provides legal advice, verifies titles, and drafts contracts.
• Registered Surveyor: A professional authorised to conduct land surveys and demarcate boundaries.

Professional involvement helps prevent fraud and ensures legal compliance.

3. Draft and Review Agreements

• Sale Agreement: A contract outlining the terms of the property transaction.
• Lease: A contract granting temporary possession of property in exchange for rent.
• Power of Attorney: A legal document allowing one person to act on another’s behalf.

Ensure agreements are clear on payment, possession, and dispute resolution.

4. Perfect Your Title

• Title Perfection: Completing all legal steps to secure ownership rights, including:
• Registration of Deed: Recording the transaction at the land registry.
• Governor’s Consent: Official approval from the state governor, as required by the Land Use Act.

Proper documentation is vital for resale or development.

5. Plan for Estate Management

• Estate Planning: Arranging for the management and transfer of property upon death or incapacity.
• Will: A legal document specifying how assets should be distributed after death.
• Trust: An arrangement where a trustee manages assets on behalf of beneficiaries.

Regularly update documents to reflect changes in ownership or use.

Protect your property interests with confidence. Contact McGuire’s Legal Consult for comprehensive support in land acquisition, title verification, estate planning, and property dispute resolution.