Imagine paying ₦20 million for a plot of land, only to discover months later that it’s under government acquisition or already tied up in a court case. Can you simply blame the seller?
Not always.
The doctrine of Caveat Emptor; Latin for “let the buyer beware” places a duty on the buyer to carry out proper due diligence before completing a purchase. In other words, the law expects you to investigate the property yourself rather than rely solely on the seller’s assurances.
While a seller must not conceal latent (hidden) defects, you are generally expected to discover patent (obvious) defects through reasonable inspection and legal searches.
The lesson? Never let excitement replace due diligence. Before paying for any land, verify the title, inspect the property, and conduct the necessary searches. A few days of investigation can save you years of litigation.
Knowledge of the law is one of the best investments you can make.