How N3,750 can save you from losing millions of naira

There is no denying the fact that thousands of scammers out there are reaping from the ignorant with non-existent properties or properties that have so many encumbrances. It therefore goes without saying that you conduct a search on that property/land before you make any financial commitment because if you do not, that land/house you bought for millions or even billions of naira might not actually be yours.

Photo - dacare-legal.com

Daniel Iyam highlights the steps to be taken.

PROCEDURE IN CONDUCTING A SEARCH

Carrying out this verification is only done at the Lands Registry office which is located in Alausa in Lagos State i.e. if the property you are buying is within the Lagos State jurisdiction. Locating The Lands Registry building in Lagos is quite easy. It can be found at the second gate of the secretariat, very close to the Governor’s Office. You carry out the search on the ground floor. If for any reason you cannot do this by yourself, you can hire a competent lawyer who you trust to carry out the search. It is advisable that you assign a lawyer because as a professional he is trained to spot issues in the document which a layman cannot see.

LANDS REGISTRY

The first thing you need to do if you want to buy a property is to demand for the certified true copy of all the titles. Included in the title document would be the number that the registry would need to carry out the search.

You then proceed to the Lands Registry Directorate where you have to:

1.Present an Application Letter to The Registrar of Titles about your intention

2.A sworn affidavit of purpose (This can be done at the High Court, Magistrate Court or the Ministry of Justice) which you would affix with a passport.

3.A copy of the application letter, affidavit and the title would then be submitted at the correspondence section of the Registry.

4.From here you would proceed to the search room where a bill of N3, 750 (it could be more in some cases depending on where the property is located) will be issued and you will be directed to pay at Access Bank or Zenith Bank. Also in the search room, you would get payment advice from a staff of the Registry.

Remember like we always tell you; do not make any financial payment to anyone apart from the designated banks.

5.After the payment and issuance of receipt from the bank, you would go back to The Registry where a search will be carried out at the search room with an automated system that takes less than 30 minutes to accomplish. If you do not like the electronic means of carrying the search, a manual search would be conducted but that would take a longer time. So you see; it is not as difficult as you thought.

At this point you will have a clearer picture of the property title you intend to buy and it will be in your hands if you truly want to continue with the transaction or want to withdraw.

Source : www.castles.com

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REVIEWS and CAVEAT : We hope you have found this information helpful. Please note that this information is provided for general informational purposes only and is not intended to be legal advice. No lawyer-client relationship is formed nor should any such relationship be implied. Any post, article, or comment or opinion expressed is not intended to substitute for the advice of a qualified lawyer, but that of the individual who made the contribution. If you require legal advice, please consult with a qualified lawyer. If you need assistance in contacting a lawyer, you may contact us via email emmanadebayo@gmail.com and we would be glad to match you with a lawyer who meets your requirements.