And please don't forget to share this with friends and family members to also have the knowledge about it..
The biggest mistake you’ll ever make in any land transaction would be;
paying for the land without receiving any proof of transfer of
ownership…
Land transactions unlike what most persons think, do not end when you pay for land and collect a receipt.
At the end of a proper land transaction, there should be a document that shows a transfer of ownership from one party to another.
This document is called a “deed of assignment”.
A deed of assignment is one of the most important documents you must possess at the end of a land transaction.
Without a deed of assignment, it becomes easy to defraud you because you have no proof that the land in question has been transferred to you by the owner.
As a matter of fact, if you invest in land through a real estate company, part of the document you get at the end of the transaction is a “deed of assignment”.
On the other hand, if you buy land from an Omo-onile family, you should get a lawyer to prepare a deed of assignment which you will take to the family and ensure that all parties involved sign the deed.
What exactly is this deed of assignment?
“A deed of Assignment is an agreement between the owner of a Land and a Buyer of that Land indicating that the owner has transferred all his rights, his title, his interest and ownership of that land to a new person (the buyer)”
The deed contains relevant information for a real estate transaction. It states the date of transfer of the land. The deed also gives a specific description of the property that is included in the transfer of ownership.
When the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction..
Brightel Properties Ltd.
Our contacts numbers are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29
With Us Your Property Is Secured...
Land transactions unlike what most persons think, do not end when you pay for land and collect a receipt.
At the end of a proper land transaction, there should be a document that shows a transfer of ownership from one party to another.
This document is called a “deed of assignment”.
A deed of assignment is one of the most important documents you must possess at the end of a land transaction.
Without a deed of assignment, it becomes easy to defraud you because you have no proof that the land in question has been transferred to you by the owner.
As a matter of fact, if you invest in land through a real estate company, part of the document you get at the end of the transaction is a “deed of assignment”.
On the other hand, if you buy land from an Omo-onile family, you should get a lawyer to prepare a deed of assignment which you will take to the family and ensure that all parties involved sign the deed.
What exactly is this deed of assignment?
“A deed of Assignment is an agreement between the owner of a Land and a Buyer of that Land indicating that the owner has transferred all his rights, his title, his interest and ownership of that land to a new person (the buyer)”
The deed contains relevant information for a real estate transaction. It states the date of transfer of the land. The deed also gives a specific description of the property that is included in the transfer of ownership.
When the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction..
Brightel Properties Ltd.
Our contacts numbers are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29
With Us Your Property Is Secured...
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