LEGAL REQUIREMENTS FOR REAL ESTATE INVESTMENT (1)

I  was recently invited to give a speech at a seminar organised by Friends Business Development Network, this establishment provides business seminars and events aimed at empowering existing and aspiring entrepreneurs, essentially providing a platform for networking and mentorship.

At the seminar, I spoke on the LEGAL ASPECT OF REAL ESTATE. It was an interesting audience I must confess and I was grateful they also found me interesting. For the benefit of most of my readers that could not attend the seminar, I will give a brief summary of everything that was discussed.

First, I started by explaining what Real Estate and Property Law means in the legal world. Of cause, it was not a crowd of lawyers, so I had to give an explanation every one could understand.

 Real Estate and Property Law covers an extensive legal area, which is regulated by Federal and State Laws. The terms “Real Estate”, “Realty” And “Real Property” are generally used interchangeably, although many people associate “Real Estate” more closely with buildings and land. However, Real Estate goes beyond buildings and lands.  It comprises land and that which is attached to or belongs with the land, such as the immovable structures like buildings, trees, and minerals permanently affixed to the land, but it also consists of the interests, benefits and rights that are legally attached to the real property.

The practice area of Real Estate and Property Law deals with a variety of related issues, including the following:

• Rights and interests in Real Estate; sales, purchases and other transfers of real estate
• Legal aspects of rental property and landlord issues; tenants’, leases, and homeowners’ rights;
• Title to Real Estate; settlement of claims against property rights; property development; zoning and land use; related agriculture issues; home loans and foreclosures; and various other relevant topics.

Personally, I see the real estate as a very big maze. You can get lost when you are not familiar with it or you can pass through it with ease connecting all pieces together. Exploring the legal issues involved in the real estate business from land/property investment to land/property search, acquiring of title documents , perfection of documents , e.t.c  are the obtainable issues that constantly affects the legal angle or aspect of the real estate sector.

I say this all the time that in real estate investment, the provision of the law cannot be avoided. It is of high importance to approach a lawyer in this regard. Having interest in a land is one thing; it is another thing to comply with the law in acquiring such land. This is because there are lots of procedures to be taken before an investor can invest in a land.

In my next post, I will further discuss  legal requirements for  Real Estate Investment. CLICK  to read next post

For further assistance, explanation, or consultation on this subject matter or any other land/property related issues, do not hesitate to contact me via ibejulekkilawyer@gmail.com or Call 08034869295. You can also email me on whatever question you have on land/property law and anything relating to it.