Property Validity Of a Search Report In Nigeria
Validity Of a Search Report In Nigeria is an important and fundamental step in acquiring houses/landed property or dealing in real estate is the investigation of title in order to ascertain inter alia any encumbrance on the land/property. While a search at the Lands Registry may reveal current ownership status in respect of the real estate/property, it would fail to show pending litigation over same land.
A potential purchaser, mortgagee, lessee etc is always interested in knowing whether the object of his proposed purchase is subject of litigation. i.e. Whether the property has a case on it. A lis pendens against a piece of property alerts a potential purchaser or lender that the property’s title is in question.
The Lagos State Lis Pendens Electronic Information System designed to provide easy access information to anyone who wants to deal in a property with information primarily on whether the property is subject of litigation (a case in Court). Lands Registry Search May Show Status But Will Not Show Pending Litigation