Verifying Landed Property in Ibadan: A Guide to Avoiding Scams
Are you considering investing in landed property in Ibadan? While the real estate market in Ibadan can be lucrative, it’s essential to be cautious of land scams. In this article, we’ll provide you with a comprehensive guide on how to verify land titles in Ibadan and avoid falling victim to scams.
The Importance of Verifying Land Titles
Verifying land titles is the first and most critical step in avoiding land scams. It confirms that the seller has the legal right to sell the land and that the property is free from disputes or encumbrances. This process helps you safeguard your investment and avoid potential legal issues.
Common Land Scams in Ibadan
To avoid land scams, it’s crucial to understand the common types of scams that occur in Ibadan. Some of the most prevalent scams include:
- Double selling: The same plot of land is sold to two or multiple buyers.
- Forged documents: Scammers create fake land titles and documents to lure people into buying property.
- Encroachment: The land being sold includes a portion that legally belongs to someone else.
- Government acquisition: The land is under government acquisition, making it illegal for private transactions.
Steps to Verify Land Titles in Ibadan
To verify land titles in Ibadan, follow these steps:
- Conduct a Site Inspection: Physically inspect the land to confirm its location and boundaries.
- Request for Title Documents: Ask the seller for all relevant title documents, including the Certificate of Occupancy (C of O), Deed of Assignment, Survey Plan, and other titles.
- Check the Certificate of Occupancy (C of O): Verify the authenticity of the C of O by cross-checking with the Land Registry.
- Conduct a Search at the Land Registry: Visit the Oyo State Land Registry to confirm ownership details and ensure the land is free from disputes or encumbrances.
- Engage a Professional Surveyor: Hire a licensed surveyor to verify the Survey Plan and ensure accurate land measurements and boundaries.
- Verify the Deed of Assignment: Ensure the Deed of Assignment is properly signed, stamped, and registered with the appropriate authorities.
- Check for Government Acquisition: Verify with the Ministry of Lands in Oyo State to ensure the land is not under government acquisition or planned development.
- Use a Trusted Real Estate Agency: Partner with a reputable real estate agency like New Wine Realty to reduce the risk of scams.
- Consult a Real Estate Lawyer: Engage a real estate lawyer to review documents and oversee the transaction.
- Get a Land Surveyor’s Report: Obtain a detailed report from a professional land surveyor to highlight any discrepancies or issues with the land.
Conclusion
Investing in landed property in Ibadan can be a wise decision, but it’s essential to be cautious of land scams. By following the steps outlined in this article, you can verify land titles and avoid falling victim to scams. Remember, thorough research and professional guidance are key to a successful land purchase.
Summary
Article Name
How to Know and Verify a Genuine Landed Property in Ibadan
Description
Learn how to verify landed property in Ibadan and avoid land scams. Follow our step-by-step guide to ensure a secure and successful land purchase.
Author
Samuel Ishau
Publisher Name
New Wine Realty
