By Bolaji Ogungbemi 

Have you heard of the alleged fraud committed by land agents who purportedly sold Lagos lagoon to an investor. The fact is that property investors must be well guided and be fully aware of the drama involve in property transaction.

It is important to note that every landowners, property agent and other interested parties involve in the property deal are after the value their services will brings whether as a commission to the land agents, cash consideration rewards for the landowners, development for the host community and utilization of land for the benefit of the general public to the government and taxes derivable from the transaction.

Land transaction in Lagos state is a “big deal” because of the activities of land grabbers, fraudsters and the Omo-Oniles. It is common norms in Lagos for a buyer to see caveat emptor on a piece of land warning buyer to beware of fraudsters popularly refers to as 419, this land is not for sale sign post. Based on this fact, majority of investors in Lagos state try to acquire property in a very good choice area with economic prospect.

For instance the Eti-Osa Local Government Area, the Ibeju-Lekki Local Government Area, and many more, these choice areas are very economically attractive to investors and also fraud vulnerable, thereby making people fall victim to fraudsters such as Omo-Onile, land agents and land grabbers.

These activities of fraudsters scare most land investors from property investment due to fear of getting duped.

The question now is how to detect and check mate fraud when about to enter land/property transaction deal.

The very major reasons that should prompt your thought of entering into land transaction should be citing copies of the original documents of ownership before the negotiation.

Also in the cause of negotiation demand original document for citing from the landowners and if the land is entrusted in the hand of property agent, demand for official meeting with the land owner for verification and questioning.

Do not continue with the land transaction if the documents are not available or enter into land transaction without citing original document from the landowner.

Get a lawyer to handle the transaction to authenticate and carry out further investigation based on the document presented to you. Here, the service of lawyer is very important in the execution of the land transaction, the lawyer will conduct search at the appropriate authority to verify the authenticity of the document.

Do not be penny wise, pounce foolish, what do I mean, pay your lawyer the appropriate fee of the transaction, make your lawyer smile to the bank and you will forever smile as owner of dispute free property for many years.

I must tell you this I find it ridiculous to hear client who purchase land without complete documents or no documents at all on the bases of friendship and trust.

Hear this, in land transaction with regards to rights of ownership, demand for legal documents and execute legal documents no matter the status of the parties involve either relatives or religious leader. If this is not done, your property and your right to title are at risk of being nullified.