How Nigerians in diaspora protect their property in absentia

Property protection is a major important part of buying a property. If you don’t consider it, then, that’s a big problem.

Apart from the part property companies play, you also need to be actively involved.

How do you protect your property

1. As Nigerians in diaspora, you need to have all your documents done and ready to be presented should there be a need for them.

THESE DOCUMENTS ARE:

i. Deed of Assignment/ Deed of Transfer

This document shows the transfer of legal ownership of the property to the buyer subject, but, to perfection. This document is very important, the buyer needs to request it when buying a property from someone who previously bought it from another person.

Although the abstract of the title, the epitome of the title, and the payment receipt ought to have been different documents, they are all contained in the Deed of Assignment.

ii. Certificate of OccupancyHV

The Certificate of Occupancy is one of the most important land documents in Nigeria. It can be used to certify the legal ownership status of any land in Nigeria. It is the document that indicates that an individual has been granted a statutory right of occupancy by the Governor of the state or a customary right of occupancy by the Local Government Chairman, where the land is situated in a rural area. This document is also very important because the property in question is on land that was acquired through a state grant.

iii. Approved Survey Plan

Another important document to ask when buying land in Nigeria is the approved survey plan, because it marks and defines legal boundaries, helps reveal the true ownership status of a property, and also reveals if the land is under any government acquisition or committed area.

This document will become even more important when the house is bought along with the surrounding land.

iv. Duly Perfected Assent

The personal representatives divest themselves of the real estate of the deceased through assent. This is required where the house belongs to the estate of a deceased, in this situation, it becomes mandatory for the buyer to request a duly perfected assent from the personal representatives. He can even go further to verify if letters of administration/probate have been granted.

Read also:Why Nigerians in Diaspora don’t have to fear buying property in Nigeria

v.The Sale and Purchase Agreement

The Sale and Purchase Agreement contains a list of terms and conditions that are agreed to by both the buyer and the seller. An excellent example of this would be the negotiation for the price of the flat. The agreement would contain the agreed amount of the flat by both the buyer and the seller.

vi. The Building Approval Plan

Before the commencement of construction, the builder is required to get the necessary sanctions under the provisions of the Building By laws, Master Plan, and Local Body Acts. This sanction involves two factors:

A) The Building Plan

B) The Layout Approval

One mistake that first-time land or house buyers often make is not ensuring that the builder meets the terms and conditions of the Building Plan and Layout Approval before buying the house. Not meeting the terms and conditions could end up in negative results if the local authorities come in for spot checks, which are quite common in newer buildings.

vii. The Mother Deed

The Mother Deed is an important document that traces the ownership of the property. This document is generally required by banks when a buyer avails a loan against the property. An individual may approach the local authorities for help while creating this document.

2. You must claim ownership

How does this work? If it’s land that you are not developing soon, you may need to fence it around, or, attach a signpost to it that bears your name by the name on the document.

3. Consider the services of a property manager

Who is a property manager? A property manager is a more professional, well-read house agent. A property manager is in charge of your property. This works especially for Nigerians in diaspora. You could employ the services of a property manager to be in charge of your property till you are ready to come around.

If Nigerians in diaspora can follow these steps above, you don’t have to be scared that anyone could hijack their property.

By Dennis Isong

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