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28 Aug

NEWS UPDATE: EMPIRE TEAM PREVENTS SALE OF LAND IN KETU EPE COMMITTED TO BE GENERAL HOSPITAL UNDER TOWN PLANNING REGULATIONS

Straight to the point:

We conducted a due diligence for a Real Estate Company who wanted to buy 24 plots of land around Igimerin Ketu – Epe, Lagos State, from a seller. The Company (buyer) had already signed a Contract of Sale to purchase the 24 plots in six monthly instalments, but the buyer just wanted to do a last minute verification before starting the payments.

We checked all the documents and traced the title to be valid. Sadly, the last stage of our research showed that the Lagos State Government had taken the area and committed it (under town planning) to be used as a General Hospital in the future.

As usual, the Seller promised that it is being rectified with the necessary powers and he will use connection to make the government release the area. We did not wait for any further explanation. We immediately advised our client to stop the purchase and cancel the transaction for misrepresentation.

There are numerous areas that have been committed by the Government for public purpose but failure to do your due diligence means your property can be demolished when the government is ready.

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