Sunday, 11 March 2018
LAND MATTERS 15.0
*LAND MATTERS 15.0*
“He is not a full man who does not own a piece of land”- Hebrew Proverb.
*'3Ps' of LAND TRANSACTION*
Land, by nature, is sui generis- unlike other products, land is not an off-the-shelf commodity. One cannot walk into a 'land mart' pick what land one desires, make payment and walk away.
Due to this fact, certain cautionary measures must be taken for proper land transaction. Three of these would be given here. These are dubbed the '3Ps'.
1. *Proper Payment:*
The regime of cashless policy has whittle down the impact of this, nevertheless it is important to stress it: Never make cash payment for land! Land transaction should be routed through a financial institution for evidential purposes. When an online payment platform is utilized, successful transaction details should be printed and safely kept.
2. *Proper Parties:*
It is instructive that where a person wants to reserve the spouse's name to reflect in the land purchase agreement, such name must be written out in full.
To illustrate, the proper parties are, "Mr. Edward Owolabi and Mrs. Ronke Owolabi" and not "Mr. and Mrs. Owolabi." Using the latter is vague and can result in needless controversy in future. In the event that the man has or marries other wives, it becomes contentious which "Mrs. Owolabi" has an interest in the property. Moreover, the man's siblings also have "Owolabi" as their surnames and can as well lay claim to the land in future.
3. *Proper Vendor:*
The interest one has in a land is as good as that possessed by one's predecessor-in-title. The effect of this is that a vendor cannot give a better title than what he himself possess. Simply put, where one buys land from a person who by right has no title to such property, one has only succeeded in buying nothing.
Unlike other products, proof of payment does not ipso facto amount to proof of title to land. Buying land from unscrupulous and fraudulent elements, who are unfortunately increasing in this clime and are lying in wait to pry on innocent people, will amount to buying a law suit.
Don't buy a Law Suit! Talk to us for hassle and worry-free land in our various estates at Lekki, Ajah, Ibeju Lekki, Magodo, Mowe, Ikorodu, Shimawa, Arepo, Ibadan, Abuja, Amambra, etc. We have some amazing discounts for you this Easter Period.
Contact: 08034334692
Visit: www.qlhomes.blogspot.com
www.facebook.com/qlhomes
Your interest is paramount to us!
“He is not a full man who does not own a piece of land”- Hebrew Proverb.
*'3Ps' of LAND TRANSACTION*
Land, by nature, is sui generis- unlike other products, land is not an off-the-shelf commodity. One cannot walk into a 'land mart' pick what land one desires, make payment and walk away.
Due to this fact, certain cautionary measures must be taken for proper land transaction. Three of these would be given here. These are dubbed the '3Ps'.
1. *Proper Payment:*
The regime of cashless policy has whittle down the impact of this, nevertheless it is important to stress it: Never make cash payment for land! Land transaction should be routed through a financial institution for evidential purposes. When an online payment platform is utilized, successful transaction details should be printed and safely kept.
2. *Proper Parties:*
It is instructive that where a person wants to reserve the spouse's name to reflect in the land purchase agreement, such name must be written out in full.
To illustrate, the proper parties are, "Mr. Edward Owolabi and Mrs. Ronke Owolabi" and not "Mr. and Mrs. Owolabi." Using the latter is vague and can result in needless controversy in future. In the event that the man has or marries other wives, it becomes contentious which "Mrs. Owolabi" has an interest in the property. Moreover, the man's siblings also have "Owolabi" as their surnames and can as well lay claim to the land in future.
3. *Proper Vendor:*
The interest one has in a land is as good as that possessed by one's predecessor-in-title. The effect of this is that a vendor cannot give a better title than what he himself possess. Simply put, where one buys land from a person who by right has no title to such property, one has only succeeded in buying nothing.
Unlike other products, proof of payment does not ipso facto amount to proof of title to land. Buying land from unscrupulous and fraudulent elements, who are unfortunately increasing in this clime and are lying in wait to pry on innocent people, will amount to buying a law suit.
Don't buy a Law Suit! Talk to us for hassle and worry-free land in our various estates at Lekki, Ajah, Ibeju Lekki, Magodo, Mowe, Ikorodu, Shimawa, Arepo, Ibadan, Abuja, Amambra, etc. We have some amazing discounts for you this Easter Period.
Contact: 08034334692
Visit: www.qlhomes.blogspot.com
www.facebook.com/qlhomes
Your interest is paramount to us!
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