Starting the process of buying a property in Lagos is an exciting but complex undertaking. In the excitement of discovering your ideal house or investment, It’s important to understand the need of appropriate documentation. To ensure a safe and easy transaction, Nigeria’s Real Estate market necessitates exacting attention to documentation. This is a list of the crucial paperwork you require:
Certificate of Occupancy (C of O): The state government’s Certificate of Occupancy (C of O) is the definitive evidence of ownership. To prove the property’s legality, make sure the Certificate of Occupancy is current and legitimate.
Survey Plan: A survey plan gives a visual depiction of the lands, showing us it’s dimensions and limits. This an is essential document to ensure that the property meets your expectations and to avoid boundary conflicts.
Deed of Assignment : A legal document known as Deed of assignment is used to transfer ownership, rights and interests in real estate from a buyer to a seller. It’s an essential component in proving that you are the legitimate owner.
Governor’s Consent: Getting the governor’s consent is essential when transferring ownership of properties that have a Certificate of Occupancy. The state government’s acknowledgement of the property’s transfer of ownership is guaranteed by this official approval.
Receipt of Purchase: The receipt of purchase is a straightforward but essential document that certifies the amount you have paid for the item. It contains information such as the agree-upon purchase price and terms of payment.
Approved Building Plan: Having an approved Building plan from the relevant authorities is essential if you’re planning to construct or are purchasing a property with an existing structure. It guarantees that the building complies with all applicable municipal laws.
Power of Attorney: A power of Attorney is necessary in situations where the property owner is not directly participating in the transaction. This legal instrument gives someone the power to take action on the landowner’s behalf.
It takes careful attention to detail to navigate the Nigerian real estate market, and having this paperwork in order protects your investment. Speak with legal experts before completing any transaction to add another level of comfort. Recall that having a properly documented purchase is essential to a safe and satisfying experience as a property owner.