How to detect a property under dispute before buying

• Damilare

In you quest to acquire a property, it becomes paramount to safeguard your investment through meticulous inspections. The term "inspection" here extends beyond just the physical examination of the land; it also entails serious research authentications to uncover potential encumbrance, possible flaws—that might not be willingly disclosed by the seller.

In certain scenarios, properties become entangled in legal disputes, escalating the stakes for prospective buyers. This situation is exacerbated when the property is owned by a family and several branches of the family want to make quick money by selling their land without first informing all of the family members leading to a potential legal quagmire for those seeking a quick sale without proper communication or conclusion.

The pivotal question arises: How can one steer clear of purchasing a property embroiled in legal contention?

To identify and avoid such properties, it is important to undertake necessary proactive measures. Any land ensnared in an active legal dispute may be termed "land under litigation." To ascertain its legal status, a comprehensive search at the court registry is required. This search unveils whether a lawsuit is pending, if a judgement favours the owner, if a consent judgement has been reached, or if an appeal is in progress. However, the lawsuit may have been the result of a disagreement between two persons who each claimed ownership of the subject land. This would often leave a prospective buyer subject to the regrettable outcome of losing the stated property and the money paid if the person who sold the land if there is a contradictory verdict from an higher cost against the person who sold the land. 

In cases where the property owner has passed away, the intricacies of probate add an additional layer of complexity. Controversies regarding inheritance, testamentary documents, and beneficiaries often necessitate a thorough investigation at the probate registry to determine probate status and the involved parties.

Prior to finalizing any purchase, buyers must diligently confirm all pertinent information about the property. Dishonest practices, such as repainting fences of contested properties, underscore the need for caution. Failing to take these precautions may leave a buyer unknowingly acquiring a litigious property, with little recourse for rectification.

A certificate of occupancy and a registered deed of assignment, if available, can unveil vital details about the owner's interest in the land. This includes uncovering potential mortgage transactions or prior assignments, safeguarding buyers from fraudulent documents.

Understanding Real Estate Investment generally requires a comprehensive education. Get trained by the best hands in the industry in number one Real Estate School in Nigeria by registering for the Investment Specialisation of 5he Real Estate Business Course and further equip yourself with the knowledge needed to navigate the complexities of property transactions.