04/06/2025
THIS PROPERTY DEAL LOOKED PERFECT...BUT ONE MYTH ALMOST COST HER EVERYTHING
'Sis! I've finally found the property I want to buy!'
That was Bimpe calling at 8 am, one Monday morning. She's a friend and a client. She sounded like someone who had just won a jackpot. Excitement was dripping from her voice.
You see, she had been through fire with her last property deal. That one scattered because the seller didnât have proper documents. They supplied Bimpe a Deed of Assignment but had not yet obtained the Governor's consent. With that, it was hard to tell if the sellers truly owned the property or if they had taken out a loan and used the property as collateral. Anyway, my advice to Bimpe was, 'No deal!'
So this time, when she saw a property that checked all her boxes and came with Governor's Consent, she believed God had finally smiled on her.
She sent the documents to me via WhatsApp as we talked:
âď¸Survey plan
âď¸Deed of assignment
âď¸Purchase Receipt
âď¸Governorâs consent
She said, 'Since this one has a Governor's consent, we can just prepare my deed of assignment sharp sharp, right?'
The property was a block of four flats in a posh location in Lagos. My sis was already talking about the cost of renovation and how we can evict the sitting tenants, asap.
I could almost hear her calculator clicking, probably calculating the juicy discount the sellers had promised her if she could make payment within five days.
The sellers? They were two siblings. She said their parents had passed on, and they just wanted to cash out quickly and japa. The discount they were offering was even making the deal smell too good.
But as much as I didnât want to sound like a party pooper, I had to press pause on Bimpe's ecstatic mood.
'Babe, I know say this thing dey sweet, but thereâs a small detail we need to iron out...'
She slowed down, 'What is it again?'
I said, The Governor's Consent is great, but in this case, it doesn't hold water if the real owners, the parents, are late. Their children donât automatically have the right to sell.'
Silence...
Then she asked, 'Ehn? But the documents are complete now!"?'
'Bimpe, there's no one size fits all approach in property deals. In this case, you need to ask the sellers if their parents left a Will; then verify if the property was given to them. If there's a Will, they must get Probate. If thereâs no Will, they need a Letter of Administration. Thatâs what gives them the legal power to sell.' I explained painfully.
I couldn't help but pause when I heard Bimpe muttering, 'Haha haha!' in frustration.đĽ
Then I continued, softening my tone, Bimpe, 'I know you are sold out on this deal already. I am your friend and you know I always have your back. But without a Will (Probate) or Letters of Administration, the sale is shaky. The consent theyâre waving around? Na wash, I tell you!'
The silence on the other end of the line was deafening. For a while, all I could hear was her breathing through the phone. Then she asked with a defeated tone, 'So they canât sell yet? I thought a Governor's consent was enough.'
'Nope.' I reacted.
Next thing, her second phone rings. Guess who? The sellers.
I told her to pick up the call and put it on speaker.
'Madam, how far? Are we still on course?' they chorused.
'Hello. Please, Iâm not moving forward with this deal unless you show me a Will any of your parents wrote, a Probate or Letters of Administration.'
Boom.
They exploded. 'Youâre a time-waster! After everything, youâre backing out? Donât ever call us again!'
They were shouting. Throwing insults like fireworks.
She calmly replied, 'If you can't provide any of those documents, no deal.' Then ended the call.
Guys, can you imagine if she hadnât spoken with me first? She would have dropped her hard-earned money on a property she legally couldnât own.
To recover that kind of money? You go enter court case that can drag on for years. Weâre talking hundreds of millions hanging by a thread. Those sellers were banking on her ignorance which was tied to the myth that once a property had a Governor's consent as its title, the deal was good to go.
So hereâs the real gist:
When dealing with inherited property, donât let 'Governorâs Consent' deceive you. That alone doesnât make the deal clean.
Ask for:
đŻ Probate (if thereâs a Will, and confirm the seller truly inherited the property)
đŻLetter of Administration (if thereâs no Will. Ensure the seller's name is listed as an administrator...)
Without either, a seller in this kind of scenario has no right to sell.
Also, shine your eyes. Donât rush into a deal just because it looks like a 'sweet offer.'
Caveat: In case you are my friend and wondering why I don't offer you premium legal advice, well...Bimpe is a friend and also pays me yearly for legal guidance. Shikena!đ
So, tell me, have you ever nearly entered one kain shady property deal before because of a wrong legal principle? Share in the comments. Let others learn.
Got questions about a property you're eyeing? Send me a DM. I can squeeze in a quick 5-minute consultation.
Be Legally Woke, people!