Nigeria: Caveat Emptor: The Importance Of Legal Due Diligence In Real Estate Transactions In Nigeria

Real Estate, whether commercial, residential or industrial remains one of the most viable investment opportunities globally. It has remained one of the top investment options for decades. The reasons for this position in Nigeria inclusive are diverse but not farfetched: land and by extension, real estate does not only store value but also seeks to multiply same within a considerable timeline.

Its non-migratory nature offers additional comfort and earns it the reputation of being the preferred collateral for banks and other financial institutions. For the same reasons, it is complementary to every good retirement plan as the burden of rent will be taken away in one's later years. It is for these reasons and more that the Constitution safeguards the right of every Nigerian to own immovable property anywhere in Nigeria; that is, this right is not restricted to the acquisition of land in areas of one's residence or origin.

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