Do you want to prepare a land agreement to cover your landed property purchase? If yes, read this. In real estate transactions in Nigeria, it is typically the buyer who is responsible for preparing the land agreement. The buyer’s Attorney is commonly involved in preparing the deed document. However, it’s important to note that practices can vary depending on the specific circumstances and local laws.
The seller is generally responsible for conveying clear and marketable title to the buyer. This conveyance of title is documented in the deed to be prepared by the buyer’s Attorney to indicate a transfer of ownership of the land to the buyer. The buyer’s Attorney will ensure that the deed is properly drafted, accurately reflects the terms of the transaction, and complies with all legal requirements.
That being said, it’s essential for both the buyer and seller to have their own legal representation to protect their interests throughout the transaction. The seller’s Attorney will review the deed and other documents to ensure that the seller’s rights and interests are properly safeguarded.
In the Southern and Eastern parts of Nigeria, the document commonly used to transfer title and covey equitable interest in land is the Power of Attorney while in the West, what is commonly used is a Deed of Conveyance. However, there is no difference between the two as they both serve the purpose of conveying equitable interest and title in land to the buyer.
It’s always recommended to consult with a qualified real estate Attorney to prepare the land agreement/handle the deed preparation and other legal aspects of a land transaction. They will guide you through the process, help navigate any complexities, and ensure that all necessary legal requirements are met.
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