Last month, a friend of mine had two separate discussions with two of his friends in the Nigerian Real Estate sector about Court Judgment in property transactions.
The first one called him and said he had a client who wanted to purchase a parcel of land in Epe and the client said he was told by the seller that the title the land has is court judgment. He was confused and wanted to find out from him if Court Judgment is a property title.
The second one posted a video of a land he was marketing on his WhatsApp status update. He watched it and noticed that at the end, the seller said the title the land is Court Judgment. He sent him a message immediately.
On Court Judgement, please note:
1.) You should not market properties with Court Judgment as title unless you really understand the judgment. It is not every Court Judgment that serves as a title.
2.) Court judgment can be a bit tricky because a property dispute sometimes takes several years to be resolved. Additionally, if the judgment was recently issued or if it was not issued by a Supreme Court, you need to bear in mind that it is not final. In most cases it can be appealed.
3.) If you want to purchase or market a property with Court Judgment, please get a Real Estate lawyer who can investigate the history of the dispute on the property and understand the implications and ramifications of the judgment issued by the court.
Adapted from a write-up by a friend.