LASG sets December 14 deadline for development of residential schemes

The Lagos State Government has charged allottees of State lands, particularly those within Victoria Island, Ikoyi, Lekki 1 & 2 and Abijo Residential Schemes, to take physical possession and develop the plots allocated to them on or before December 14, 2015.

When a Lizard can, why can't we?

WHEN A LIZARD CAN, WHY CAN'T WE? 
This is a true story that happened in Japan. In order to renovate the house, someone in Japan breaks open the wall. Japanese houses normally have a hollow space between the wooden walls. When tearing down the walls, he found that there was a lizard stuck there because a nail from outside hammered into one of it's feet. He sees this, feels pity, and at the same time curious, as when he checked the nail, it was nailed 5 years ago when the house was first built !!! What happened? The lizard has survived in such position for 5 years!!!!!!!!!! In a dark wall partition for 5 years without moving, it is impossible and mind-boggling. Then he wondered how this lizard survived for 5 years! without moving a single step--since it's foot was nailed!

Mortgage Loan

MORTGAGE LOAN

A mortgage loan, also referred to as a mortgage is an instrument of debt, covered and protected by the collateral of a specific property, which should be paid back with a pre determined terms of payments by the borrower. Individuals and businesses makes use of mortgages to make large real estate purchases without paying the entire value of the purchase price outright. After a period of many years, the loan is repaid by the borrower, with interest, until he/she eventually owns the property free and clear. Mortgages are also known as "liens against property" or "claims on property." If the borrower fails to keep to the terms of payments of the mortgage, the bank can foreclose.

Power of Attorney

What is a Power of Attorney?

A Power of Attorney is a document that could be under seal which authorises a person to act on behalf of another person as his agent. The person who donates the power is called the "donor" (Principal) while the person to whom it is donated is called the "donee" (Attorney) .

The Nigerian Property Market- The Situation

THE NIGERIAN PROPERTY MARKET – THE SITUATION

This year we have experienced or read about mind-blowing transactions and so 2015 will be remembered as the year of big numbers but these sincerely happened before the election of same year. In this same year we are witnessing a drastic down fall with reference to change in “Premium transactions “.

The change in country’s leadership, policies & party in power has made a lot of deals go from active to pending and from pending to maybe never. As agents & representatives of property owners,investors or buyers you must understand its a network. Your network & alliance also has a lot to do with where your deals come from & same with your financial strength.

Supreme Court decision on use of Legal Stamps

SUPREME COURT AFFIRMS THAT FAILURE TO AFFIX NBA STAMP & SEAL ON A LEGAL DOCUMENT RENDERS SUCH LEGAL DOCUMENT INCOMPETENT

In a judgment delivered today in Appeal No. SC/722/15 All Progressives Congress (APC) V. General Bello Sarkin Yaki, the Supreme Court upheld the 2nd Cross-Appellant’s Cross appeal against the decision of the Court of Appeal, Sokoto Division which summarily dismissed the 2nd Cross-Appellant’s preliminary objection which challenged the Appellants’ Notice of Appeal for failure to bear the stamp/seal of the legal practitioner who signed it.

In allowing the appeal the Supreme Court upheld the sole issue formulated by the 2nd Cross-Appellant; ‘Whether the Court of Appeal was right to hold that failure of a legal document to have affixed to it a Stamp/Seal as mandated by rule 10(1) of the rules of professional conduct did not carry with it the consequence of rendering such legal document incompetent’.

Everyone has a story, be willing to hear it before you judge

A 24-year old boy looking out through a train's window shouted, Dad, look, "the trees are going behind; they are moving very fast" his Dad simply stared at him with so much joy and smiled! A young couple seated nearby looked at the 24-year old and thought to themselves, he's so grown up but so childish, he must have a mental disorder for his father not to be bothered. Suddenly the young man exclaimed again; Dad, look, "the clouds are running with us" the couple could not resist and

Deed of Assignment

A deed of assignment is a legal document that is used in the assigning of interest in real estate and land property. The deed of assignment is a very important document that should be kept in a save place at all times, particularly in the case of real estate. The deed of assignment is a legal instrument with a probative value which signifies an agreement or pact binding on the parties who have entered into it. The deed of assignment, in other words, is a document employed where a holder of a term of years in property assigns his interest to another usually for a consideration.

Deed of Conveyance

A deed of conveyance is a signed legal document that shows a title or deed has been transferred. It is used to prove ownership in a piece of property. A deed of conveyance is signed, witnessed, and notarized by the seller and the buyer as well as anyone else with a vested interest in the property being transferred. To thoroughly understand a deed of conveyance, it can be split into two parts: the deed and the conveyance.

Conveyance

Conveyance is the process of passing title, ownership or interest in real (land) property from one person to another by a document, such as a deed, lease, or mortgage.

Property Law

Property Law are the principles, policies, and rules by which issues and matters arising over property(s) are settled and the method by which property transactions are structured. The major difference between property law and other types of law is the fact that property law deals with the relationships amongst members of a society or group of persons with respect to “things.” These things may be tangible, such as land or a building or a diamond ring, or they may be intangible, such as stocks and bonds or a bank account

A little "Hello and Bye" could save life

A lady worked at a meat distribution factory. One day, when she finished with her work schedule, she went into the meat cold room (Freezer) to inspect something, but in a moment of misfortune, the door closed and she was locked inside with no help in sight. Although she screamed and knocked with all her might, her cries went unheard as no one could hear her. Most of the workers had already gone, and outside the cold room it's impossible to hear what was going on inside. Five hours later, whilst she was at the verge of death

One Stop Search Centre

ONE STOP SEARCH CENTRE

Now you can conduct all your search in a minute by a single click on just one single page with just a link to the owner of the property in 95% of the briefs with us here by Clicking the links below to locate the under listed briefs :-

The One Thousand Naira Note

Two important management lessons I learnt from a 1000 Naira note. 

 1. It happened some time ago but . I was in an audience listening to a motivational speaker. The speaker got out his wallet & pulled out a 1000 Naira note. Holding it up, he asked, "Who wants this 1000 naira note?" Lots of hands went up. Including mine. A slow chorus began to build as people began to shout "Me!" "Me!" I began to wonder who the lucky one would be who the speaker would choose. And I also secretly wondered (and I am sure others did too ) why he would simply give away 1000 naira. Even as the shouts of "I want it" grew louder, I noticed a young woman running down the aisle. She ran up onto the stage, went up to the speaker, and grabbed the 1000 naira note from his hand

Mini-flat / One Bedroom Flat

A Mini-flat apartment refers to an apartment that has a single bedroom. It is also known as a “one-bedroom flat”. Single apartments usually have a full kitchen, either fully apart from the main living room or separated from it by a counter, as well as a dining area, which is typically an extension of the living room.

Self Contained / Studio Apartment

A Self-contained/Studio Apartment unit of accommodation is one which usually consist of a large single main room which acts as the living, dining room and bedroom combined and usually also includes facilities for food preparation, for washing, bathroom and toilet inside it for the exclusive use of the household living within the unit. If the occupiers need to leave the unit to gain access to any one of these amenities then that unit is not aself contained/studio apartment.

A Room Apartment

A Room apartment is one in which the room is separate from other basic needs of a standard apartment, such as the kitchen, toilet and bathroom and doesn't even come with a luxury of a parlour and dining room combined.

Omoniles and Fraudsters

Lagos Nigeria Real Estate Fraud –
The Omoniles and The Pure Fraudsters 

Have you heard about Nigeria real estate fraud. It is no joke. It is real.


Fraudsters are on the prowl because it's easy to catch a victim since many people are tired of being bullied by greedy landlords and thus desire a house of their own.


There are two classes of Lagos Nigeria real estate fraud fraudsters.

Requirements for Perfection of Governor's Consent

Please follow every requirements and payment carefully to avoid your file being Queried. It's better to avoid these queries and prevent the loss of money by inadequate processing because money isn't easy to come by, thus put your house in order before you venture into it.

They include the following:

Speculator

THE ART OF LAND SPECULATION

A Speculator is the person that's involved in speculation. While, Speculation is a process or act of Buying Land Low and Selling High.
There are millions of acres of land throughout Nigeria that will never have any real value, such as desert land, for example, that cannot be developed to produce income, to satisfy human needs or to earn money.

- Location is a key

Let us Start with Urban or City Economics, what makes a city a good bet or a poor bet for real estate Investment?

FACTORS TO CONSIDER AS SPECULATOR.

Why is property inspection essential ?

ANSWER:

You wouldn't want to fall victim to the "Omoniles" by getting Scammed through them ! It's Point-blank and Easy to Answer. We most probably know someone that knows someone that has fallen a victim of property scam or bought a stolen property  or a Land with defective titles or documents. Would you wish to be the next Victim and for people to use you as a case study just because you decided not to thoroughly Verify that property ?

Basic things to know before purchasing a property in Lagos

 I get contacted on a daily basis from clients with interest to purchase properties and asking me to provide them with the details of a property that I could recommend to the to actually acquire for themselves, with no form of encumbrance or "omonile" issues. We mostly ignore or forget that the cost implication of buying a property in Lagos is of utmost importance. Many a people feel a fixed amount of money in their respective bank accounts will be enough to cover for all the expenses to be incurred during the purchase of a property and the remaining issues becomes history.

Our Fees

We offer excellent value for money with regards to our professional fees charged and often time it could become. self-funding via the financial savings we are able to attain.

Our Mode of Operation

Property Lawyer operates a 4 stage mode of operation which takes you as our client from the onset on your decision to purchase before the main conveyance and acquisition of the property.

Our Services

Our services involves basically the whole process of real estate legal practice, implementing our skills not only as solicitors and also our experience in preventing a fraud free property transactions.