In a shocking development from Ijebu-Ode, Ogun State, a real estate transaction has spiraled into a bitter family feud, leaving an unsuspecting buyer stranded after paying N30 million for a disputed property.
Two brothers, Mr. Olushola Ademola and Mr. Olumide Ademola, have locked horns over a property inherited from their late father, Chief Ademola, who passed away in 2010. The property in question is a large expanse of plot with uncompleted residential structure located at No. 10, Ijebu-Ode Road, opposite First Bank, Ijebu-Ode, Ogun State. The property sits on approximately 1,500 square meters of prime land. Valued over N50 million.
According to findings by EncumberedProperties.com correspondent, Abubakar Bello, Olusola Oladele Ademola sold the property without the knowledge or consent of his sibling. He collected N30 million from an unsuspecting buyer. This action has triggered a serious dispute and drawn the attention of the Baale Oko Ilu, the local district head, who has stepped in to mediate the escalating matter.
THE LEGAL IMPLICATION
Real estate lawyer and founder of Encumbered Properties, Madueke Enwere weighed in on the case:
“This is a textbook example of why buyers must conduct thorough due diligence before committing to any land or property purchase, especially when the property is jointly inherited. Without the consent and signature of both owners, any transaction is legally questionable.”
Mr. Enwere explained that if the property was inherited jointly and no will was left explicitly stating individual ownership, both brothers must jointly authorize any sale. Selling without mutual agreement renders the transaction voidable, and the buyer has no legal title to the property.
WHAT HAPPENS TO THE BUYER?
Unfortunately, the buyer who deposited N30 million stands the risk of losing the entire investment. Without valid documentation from both owners, the buyer has no enforceable claim. Worse still, if the parties fail to resolve the matter, it could drag into a legal tussle that may take years to conclude.
WARNING SIGNS IGNORED
Many land scams and disputed property sales occur because buyers ignore warning signs namely:
- No family consent or verification;
- No legal title or proper documentation;
- High-pressure sales tactics;
- Deals that sound too good to be true!
According to Mr. Enwere:
“You can’t give what you don’t have. One party cannot unilaterally sell property owned by multiple people. This is the law, and it protects both investors and rightful owners.”
FINAL ADVICE
This case is another red alert for potential investors and land buyers in Ogun State and beyond. Before paying for any property ensure you do the following:
- Conduct a background check on the seller;
- Demand to see the original documents;
- Confirm ownership through family members or legal guardians;
- Consult a real estate lawyer;
Search through EncumberedProperties.com platforms. Someone somewhere might have flagged the property as encumbered, disputed or undisputed but not for sale. This way, you avoid falling into the trap of wrong investment.
The team at Encumbered Properties will continue to monitor the situation and provide updates. Meanwhile, we strongly advise all potential buyers to stay away from the said property until the dispute is resolved.
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At Encumbered Properties, our mission is to help you make safe and informed property investments decisions.
In summary, before you buy any property anywhere in the world, always:
Verify the property’s status on EncumberedProperties.com;
Consult a real estate lawyer; and
Avoid untraceable cash transactions.
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This article was put together by Madueke Enwere: a property lawyer, a real estate investor, a senior police officer and by God’s grace, the founder, encumberedproperties.com