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The Critical Mistake Every Realtor Must Avoid: Lessons from the Case of Mr. Richard, Vice Chairman of the Bayelsa State Real Estate Association

This scenario highlights a mistake that all realtors should steer clear of—a mistake that led to the tragic demise of Mr. Richard, Vice Chairman of the Bayelsa State Real Estate Association. According to accounts narrated by Very Dark Man, the incident involved Mr. Richard (a realtor) and Mr. George (a landowner).

Trust is the Foundation of Every Real Estate Transaction

In real estate dealings, trust acts as the backbone that facilitates transactions. However, trust alone is insufficient; it must be complemented by adherence to proper procedures. Failing to follow standard protocols can lead to greed, legal complications, and even personal danger.

Key Principle: Never Allow Money to Change Hands Without Verifying Documents
Under no circumstances should a client pay money to a landowner without first scrutinizing the original land documents and obtaining copies. Transparency and verification are paramount to avoid pitfalls.

Standard Procedure for Land Transactions

1. Document Verification
The landowner should present the original land documents.
The realtor must verify these documents' authenticity through the Ministry of Land or relevant authorities in the state, confirming that the land is duly registered.

2. Due Diligence Beyond Official Records
Conduct discreet local inquiries to uncover any disputes related to the land.
Confirm the true ownership of the property and trace how ownership was transferred to the current owner—this should be done secretly by the realtor, without the seller’s knowledge.

3. Property Measurement and Legal Documentation
Engage a registered surveyor to determine the actual size of the land.
Have a legal practitioner prepare essential documents such as:
A deed of assignment (transfer of ownership)
An irrevocable power of attorney
Note: At this stage, no money should be exchanged.
The Transaction Meeting
Once all documents are prepared:
Schedule a neutral, public meeting space for the transaction.
Participants should include:
The landowner and a witness
The buyer and a witness
The realtor
Any other relevant parties involved in the transaction

4. Completion of Payment and Transfer
The buyer transfers the agreed payment to the seller during this meeting.
Upon confirmation of receipt, both parties sign the documents:
The seller receives a copy of the new deed, now establishing them as the formal owner.
The seller hands over the original land documents to the buyer, who receives only copies, not the originals.

At this point, the transaction is legally complete, with all parties satisfied and protected.
The Underlying Cause of the Incident
The tragedy involving Mr. Richard occurred because the realtor placed 100% trust in the landowner without adhering to these standard due diligence procedures. Such blind trust is perilous.
Final Advice

No real estate deal is too small—whether involving hundreds of thousands or millions of naira. While trust is necessary, it must be backed by proper verification. Trusting someone without verifying documents and following due process is akin to buying land without proof of ownership. It’s a ticking time bomb that can lead to disastrous consequences.

Remember: Always follow the established procedures, verify documents thoroughly, and never exchange money before confirming the legitimacy of the land and its ownership. This is the only way to ensure safe, successful transactions.

Stop using “Mr/Mrs Daniel” on your property documents

It looks sweet and united but in law, it is a trap.

Now, picture this

You and your spouse buy land together. On the Deed of Conveyance, the lawyer writes: “Mr/Mrs Daniel” as the purchaser.
You smile, thinking it shows joint ownership.
Wrong.

In law, “Mr/Mrs Daniel” refers to the man alone as if he bought the property in his sole name. The wife’s interest is not protected.

If you truly want co-ownership, the names must be written clearly, for example:

🥢 “Daniel Chukwuemeka and Rose Daniel (husband and wife)”

🥢 “Mr. Daniel Chukwuemeka and Mrs. Rose Daniel, jointly as purchasers.”

OR

1. Mr Daniel Chukwuemwka
2. Mrs. Rose Daniel
(Purchasers)

That way, both names appear distinctly, and the law recognizes both parties as owners.
I’ve seen too many cases where a widow was pushed out of her home because the document only bore her husband’s name even though she contributed.

In law, love is not ownership.
If you want joint ownership, write your names clearly.
Protect your marriage.
Protect your property.

Wise counsel

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HOW TO BUY PROPERTY IN ABA ABIA STATE NIGERIA

Buying property in Nigeria involves several legal procedures and requirements to ensure a smooth and lawful transaction. Below is a detailed legal guide to help you understand how to buy property in Nigeria. The principal law governing the land transactions in Nigeria is the Land Use Act. Other applicable laws include the Property Conveyancing Law and Land Instruments Registration Laws of various states.

Legal Framework and Requirements

Title Verification: Before purchasing property in Nigeria, it is crucial to verify the title to ensure the seller has legal ownership. This involves checking the land registry, conducting searches at the state’s land registry office, and confirming the property’s title status.

Due Diligence: Conduct due diligence on the property to ascertain there are no encumbrances such as mortgages, liens, or disputes that could affect the sale. This can be done through searches with relevant authorities and by engaging legal professionals. You may also need to visit the property to check for any visible encumbrance, such as a caveat in front of the property.

Offer and Acceptance: Once satisfied with the property’s status, negotiate the terms of sale with the seller or their agent. A purchase agreement is drafted outlining the terms and conditions, including the purchase price, payment terms, and any other specific agreements between the parties.

Payment of Purchase Price: Typically, the buyer pays a deposit upon signing the agreement. The balance is usually paid upon completion of the transaction. It’s essential to use secure payment methods and ensure all financial transactions are documented. The buyer also has an option of paying the entire lumpsum once it is available. Where the payment is to be made in instalments, it is paramount that the parties sign a contract of sale.

Ex*****on of Transfer Documents: Both parties execute the necessary transfer documents, including a deed of assignment or conveyance, which legally transfers ownership from the seller to the buyer. These documents must be stamped and registered at the appropriate land registry or land bureau.

Stamp Duty and Registration: Payment of stamp duties is mandatory on transfer documents, calculated based on the property’s value. Registration fees are also payable to register the transfer and ensure the buyer’s ownership is recognized under Nigerian law.

Governor’s Consent: Obtaining the governor’s consent is required before the transfer of land can be completed. This involves submitting the transfer documents for approval of the state governor. By virtue of the Land Use Act, all transfers of landed properties within a state in Nigeria must receive the consent of the governor of such a state to be valid and legally completed. The procedure for the governor’s consent, stamping and registration are usually done together across all states in Nigeria.

Additional Considerations
Legal Advice: Engaging a qualified legal practitioner throughout the process is advisable to navigate legal complexities and ensure compliance with local laws.

Physical Planning Approval: Due diligence must be conducted concerning land physical planning or land use regulation of a particular area before the property can be bought. A good title is not enough to deal on property transactions; the seller must conduct due diligence, ensuring the property will be approved for intending purposes by the government.

Conclusion
Buying property in Nigeria involves a structured legal process aimed at protecting both buyers and sellers. It is crucial to conduct thorough due diligence, ensure all documents are properly executed and registered, and comply with legal and regulatory requirements to secure a valid and enforceable property transaction. Seeking professional advice and guidance can help you navigate potential challenges and ensure a successful property purchase in Nigeria.

By Real Estate Law Team at E. C duru & Co Law Firm

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