8 IMPORTANT DOCUMENTS YOU NEED TO HAVE WHEN BUYING PROPERTIES IN NIGERIA

When buying a property in Nigeria, it is essential to have the necessary documents in place to ensure a smooth and legally compliant transaction. From verifying the ownership of the property to conducting due diligence on the title, having the right documents can help protect your investment and avoid potential legal issues in the future. In this article, we will discuss the important documents you need to have when buying properties in Nigeria.

 1. Certificate of Occupancy (C of O):

The Certificate of Occupancy is a crucial document that confirms the legal ownership of a property. It is issued by the state government and serves as proof that the property has been granted legal title by the government. When buying a property in Nigeria, it is important to verify the authenticity of the C of O and ensure that it is valid and up-to-date.

 2. Deed of Assignment:

The Deed of Assignment is a legal document that transfers ownership of a property from one party to another. It is typically used when buying a property from the original owner or a previous buyer. The Deed of Assignment should be properly executed and registered with the appropriate land registry to ensure the transfer of ownership is legally recognised.

 3. Survey Plan:

A Survey Plan is a detailed map that outlines the boundaries and dimensions of a property. It is used to verify the physical location and size of the property, as well as to confirm that the property boundaries align with the legal description in the title documents. When buying a property in Nigeria, it is important to obtain a current and accurate Survey Plan to avoid boundary disputes and encroachment issues.

 4. Building Plan Approval:

When purchasing a property with existing structures or planning to build new structures, it is important to obtain the Building Plan Approval from the appropriate government authority. This document confirms that the building plans comply with local building regulations and zoning laws. Failure to obtain Building Plan Approval can result in fines, demolition orders, or legal disputes in the future.

 5. Power of Attorney:

A Power of Attorney is a legal document that authorises an individual or entity to act on behalf of the property owner. It is commonly used when the property owner is unable to attend the property transaction in person and appoints a representative to handle the sale. When buying a property in Nigeria, it is important to verify the validity of the Power of Attorney and ensure that the appointed representative has the legal authority to act on behalf of the property owner.

 6. Tax Clearance Certificate:

A Tax Clearance Certificate is a document that confirms that the property owner has paid all relevant taxes and duties to the government. When buying a property in Nigeria, it is important to obtain the Tax Clearance Certificate from the seller to ensure that there are no outstanding tax liabilities associated with the property. Failure to obtain the Tax Clearance Certificate can result in legal consequences for the buyer.

Conclusion,

Having the right documents when buying a property in Nigeria is essential to protect your investment and ensure a legally compliant transaction. By obtaining and verifying the Certificate of Occupancy, Deed of Assignment, Survey Plan, Building Plan Approval, Power of Attorney, and Tax Clearance Certificate, you can safeguard your interests and avoid potential legal issues in the future. Consulting with a real estate professional or legal advisor can also help guide you through the property buying process and ensure that all necessary documents are in order.