Real Estate and Succession

BAS’s Real Estate and Succession practice provides legal support in the sale, aacquisition and perfection of title to landed property in Nigeria. We conduct due diligence on title and occupancy details as well as perfect mortgages. We also represent the interest of our clients in other real estate financing arrangements such as joint ventures and real estate investment trusts.

The firm’s Succession practice involves non-contentious as well as contentious matters. We assist our clients with the drafting of wills, obtaining probate, letters of administration and where disputes arise, in consequential litigation including the appointment of administrators pendente lite and other contentious probate proceedings. We also assist with the re-sealing of probate and letters of administration where estate properties are located outside the domicile of the deceased.

For purchase and sales of properties situate abroad, we assist Instructing and/or Associate Firms in carrying out due diligence on the source of funds or wealth of the parties involved in the transaction in Nigeria. We also conduct due diligence on the nature of business of the parties in the transaction, be it corporate entity or individuals. DEPENDABILITY LOYALTY LEADERSHIP 10

Towards carrying our such due diligence, we often request from the purchaser(s) bank statements, complete tax returns, audited financial statements, evidence of investments, incorporation documents, employment status and corporate resolutions (in case of corporate entities) with a view to determining the source of funds for the transaction. These documents are verified independently from the relevant governmental bodies, ministries, agencies and departments to confirm their authenticity.

We also request for letter(s) of good standing, reference letters, evidence of contracts and licences from the purchasers, mostly when politically exposed persons or individual are involved or are part of the management of corporate entity.