14.11 Role of professional ( Advocates, Certified Secretaries) in land transactions

Professionals like advocates (lawyers) and certified secretaries play crucial roles in land transactions to ensure legal compliance, protect the interests of the parties involved, and facilitate a smooth transfer of land rights.

Advocates (Lawyers):

1. Legal advice: Lawyers provide legal advice to clients regarding the legal aspects of the land transaction, including the applicable laws, regulations, and potential risks involved.
2. Contract drafting: They draft or review the purchase agreement, sale agreement, or any other legal documents related to the land transaction to ensure that they accurately reflect the parties’ intentions and protect their interests.
3. Title search and due diligence: Lawyers conduct a thorough title search to verify the property’s ownership history, identify any liens or encumbrances, and ensure that the property is free from legal disputes or claims.
   1. Negotiation: Lawyers may participate in negotiations on behalf of their clients to reach mutually acceptable terms and conditions for the land transaction.
   2. Escrow services: In some cases, lawyers act as escrow agents, holding funds and documents in trust until all conditions of the transaction are met.
   3. Legal compliance: They ensure that the land transaction complies with all relevant laws and regulations, including zoning laws, environmental regulations, and tax laws.

    

   Certified secretaries

   1. Corporate entity compliance: In cases where land transactions involve corporate entities, certified secretaries ensure that the company complies with all corporate governance and regulatory requirements.
   2. Documentation and record keeping: Certified secretaries maintain accurate records of corporate transactions, including land acquisitions, and ensure that all required documents are properly filed and stored.
   3. Board resolutions: They assist in the preparation of board resolutions and corporate authorizations required for land transactions involving corporations. These resolutions confirm the authority of the company to engage in such transactions.
   4. Compliance with company law: Certified secretaries ensure that the land transaction aligns with the company’s memorandum and articles of association and other relevant company laws.
   5. Due diligence: They may be involved in conducting due diligence related to the company’s assets, including land holdings, to verify ownership and compliance with legal requirements.
   6. Corporate records maintenance: Certified secretaries maintain corporate registers and records, which may include details about land holdings and transactions.