Title: A GOOD ROOT OF TITLE.
SECTION ONE: WHAT IS A GOOD ROOT OF TITLE?
In every land transaction, it is always essential for the purchaser to make DEEP investigation as to the authenticity of the ownership of the land because, if the title is bad, the purchaser loses all or part of his/her money.
A very important question here is, HOW DO YOU KNOW A GOOD ROOT OF TITLE?
Before accepting a land document as authentic, patiently watch out for the following:
1. SUFFICIENT DESCRIPTION OF PROPERTY: Ensure that the property is well described by the document. The number and street of the building (in case of a developed property) must be visible on the document. If undeveloped, the location, original owners of the land of that very locality and their real family name/traditional or mother/native-tongue title must BE CLEARLY DESCRIBED.
2. DISCLOSURE OF THE ENTIRE LEGAL AND EQUITABLE INTERESTS ON THE LAND: The document must reflect if there is any other person interested in the land or not. Example of this could be, tenancy, loan or mortgage on the property. This helps the purchaser to make proper decision about the purchase.
3. NOT SUBJECT TO A GREATER INTEREST: No matter the kind of interest on the land, THE INTEREST OF THE VENDOR MUST BE GREATER THAN SUCH OTHER INTERESTS on the said land before a purchaser can be advised to consider the transaction.
4. DISPELS ALL DOUBTS ABOUT THE AUTHENTICITY OF THE ROOT OF TITLE: After careful consideration of the property document, if you have any doubt in your mind as to the authenticity of it, carefully make a U-turn from the transaction.
FINAL NOTE: Always involve a lawyer at EVERY stage of your property transactions TO AVOID GREATER COST as discussed in our previous article titled; “BANK PLC. VS TITILOPE NGOZI: AVOID GREATER COSTS – https://thehumanfound.org/service-to-humanity-volume-8/”.
SECTION TWO: PAYMENT RECEIPT VERSUS DEED OF ASSIGNMENT/TRANSFER.
When some of us acquire landed property from either a private vendor or real estate companies, all they give us most times, is mere PAYMENT RECEIPT and we are made to believe that the property has passed to us.
What you must know is, PAYMENT RECEIPT DOESN’T GIVE YOU OWNERSHIP OF THE LAND/PROPERTY PAID FOR. Such receipt only evidence mere payment of money which TRANSFERS NO OWNERSHIP TO YOU IN ANYWAY. Even if you have possession of such property, you can still be displaced by another buyer with superior title.
Therefore, ALWAYS INSIST ON DULY EXECUTED DEED OF ASSIGNMENT/TRANSFER in such transactions.
YOU MUST CLAIM THIS RIGHT if you are not prepared to lose your hard-earned resources. This can be made possible and available to you through a lawyer who will prepare the necessary document(s) with his seal and your peace, title of ownership is thereby guaranteed from thence.
SECTION THREE: MORAL LESSONS TOWARDS CAREFUL LIVING:
What will be will be. Nothing worth killing oneself.
No one can make you happy until you learn to make yourself happy and sustain happiness.
The power of forgiving oneself helps you forgive others at ease. Although it’s not easy. But just keep trying with divine inspiration and healthy thoughts declaration unto spoken word of accomplishment.
If your shadow may leave you in the dark and darkest corner, then, trust nor depend on nobody but God Almighty alone.
Thank you and remain positively wise! 💕💕💕
Source: The Humanitarian Education Department (THUMED).
Service to Humanity is a weekly publication to encourage Humanitarian Activities across the globe by The Humanitarian Foundation Press Department. Make financial and non-financial donations and other support through our online (banking) platform and/or physical address. Igweike Raphael Otum (Founder and President, Councilor, Author, Businessman, Accountant, Evangelist and a Humanitarian) is the author of this wonderful publication, Service to Humanity.
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