'Realtors In The Cell' seminar to tackle legal risks facing Nigerian estate agents
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A five-city seminar will address the rising arrest, detention and prosecution of Nigerian real estate agents over property transactions, its organiser Dr Prince Joel has said.
A seminar series titled 'Realtors In The Cell' will examine the criminal liability risks facing Nigerian real estate agents, its organiser Dr Prince Joel, founder of Prince Joel Real Estate Academy Ltd, has announced.
The seminar will be held in Asaba, Port Harcourt, Owerri, Lagos and Abuja and will focus on "Property Transactions: Contracts and Criminal Liability under the Administration of Criminal Justice Act 2015", addressing what the organisers describe as rising cases of arrest, detention and prosecution of real estate agents across the country.
"On a daily basis, realtors are being invited, detained, and charged by Police, EFCC, and other agencies over property transactions gone wrong and to bridge this knowledge gap, we are leading conversations through the seminar to help real estate professionals avoid legal trouble, fraud charges, jail time," Joel said.
The organisers listed the main triggers of legal trouble for agents as failed transactions and an inability to deliver plots, selling land without proper title or due diligence, double allocation and land grabbing disputes, breach of trust and criminal conversion of client funds, community and 'omo onile' issues, and poor documentation including fake receipts and forged certificates of occupancy.
The curriculum covers the legal rights of a realtor during arrest, bail and detention procedures under the Administration of Criminal Justice Act 2015, how to structure property transactions from offer letter to governor's consent, contract documentation, red flags in property deals, and the liability of agents under sections 419, 97 and 390 of the Criminal Code.
Joel said the sessions are intended to help professional realtors avoid arrest and prosecution over deals, protect their funds and reputation, and handle clients and developers within the law.