How names should appear on properties jointly acquired.

-
Most times when couples jointly own properties l, it is usually the name of the husband that appears on the documents stating "only" his name.

Legally, the appropriate way is to state the husband's full name and the wife's full name.

Which should appear as this:

MR. EMEKA TONY OKAFOR AND MRS. FELICIA ANN UCHE OKAFOR

NOT

MR. AND MRS. EMEKA TONY OKAFOR

This is also applicable when jointly buying a property with friends and relatives. It gives clarity to the names of individuals owners involved in case of future disputes.

No one prays for a bad marriage that might lead to divorce or for the death of a partner that will make wicked family members render their son's wife/daughter's husband penniless after his/her demise.

However, in case of unforeseen circumstances, it is advisable that all parties must be identified individually and also described as collective owners of the properties.

Tag a friend to follow us @thesavvyrealtorng for more informative post on REAL ESTATE.

To purchase any of our properties click on the link in BIO to get started. Speak with the lady realtor on 07060776090

Comments

Post a Comment

Popular posts from this blog

Mo Abudu in an Interview with CNN Isha Sesay about her forthcoming series, The Dahomey Warriors.

-
Image
The CEO Ebony Life TV in an interview with CNN spoke to Isha Sesayj about her forthcoming series, The Dahomey Warriors.  The announcement by Ebony Life Ltd of a collaboration with Sony Pictures Television to co-develop three Newmarket scripted TV series inspire. She explained that six years ago the channel came across amazing stories,  including one about female elephant hunters in 1645, who developed into a feared fighting force and bodyguard to the ruler of West African Kingdom of Dahomey {part of modern-day Benin).  Mo Abudu added that development of the project led to the search for a suitable global production partner, which resulted in the deal with Sony Pictures Television in late March stressing that The  Dahomey Warriors will be the first of many stories that will come to our screens, as a result of the deal with Sony.
Read more

10 Ways to Avoid Encroachment on Government Land

-
 Lately, we seen a lot of demolition going on in Lagos state. Carting away millions of Naira to purchase land and houses is not any easy fit, we don’t want to wake up one day to see our land/house investment brought down the drain because of not doing authentic due diligence. To avoid buying or encroaching on government-owned land in Lagos State and prevent future demolition, a real estate investor can take the following steps: 1. Conduct thorough research: Verify the ownership and status of the land through the Lagos State Land Registry and the Ministry of Physical Planning and Urban Development. 2. Check for government acquisitions: Ensure the land hasn’t been acquired by the government for public purposes like road projects, housing schemes, or infrastructure development. 3. Verify the seller’s authenticity: Ensure the seller has the legal right to sell the land and isn’t a fraudulent agent. 4. Insist on a genuine Certificate of Occupancy (C of O): Demand a valid C of O from the...
Read more

WHY YOU NEED A VIRTUAL ASSISTANT

-
  Are You a Busy CEO Trying to Do It All?  You Need a Virtual Assistant! As a busy CEO, you wear many hats. You're responsible for leading your company, making strategic decisions, and driving growth. But let's face it - you can't do it all alone. That's where a virtual assistant comes in. A virtual assistant is a game-changer for busy CEOs like you, providing support and expertise to help you manage your workload and free up your time. Here are just a few ways a virtual assistant can help: - Scheduling and calendar management - Email and communication management - Data entry and bookkeeping - Research and data analysis - Social media management - Travel planning and coordination By outsourcing these tasks to a virtual assistant, you'll be able to focus on what matters most - leading your company and driving success. So why wait?  Hire a virtual assistant today and take your productivity to the next level! If you're looking for virtual assistant who can support ...
Read more