Legal practitioner and property investment expert Alex K. Osei-Owusu advised individuals to seek legal consultation before acquiring properties, particularly in real estate development, to avoid potential litigation.
Mr Osei-Owusu has led a team of real estate developers, insurance companies, and financial institutions to assist diaspora communities interested in acquiring and investing in property in Ghana.
According to him, “Litigation is expensive everywhere in the world. Apart from the financial cost, it also involves emotional strain and wasted time. We always go by the saying: ‘Prevent litigation rather than resolve it.’ Our advice is that, before buying any land or property anywhere in the world, you should speak to a lawyer. Real estate transactions can be complicated due to the significant amounts involved, so it’s always best to get legal advice. A lawyer can guide you, providing a checklist of what to do and avoid, which can prevent or resolve potential litigation.”
He emphasised that failing to seek legal advice and becoming involved in litigation could prove “much more expensive.”
Mr Osei-Owusu also advised that it is essential for all parties involved in property investment to pay the necessary fees and taxes to avoid legal complications. “Once you comply with these requirements, you won’t need to worry about litigation. And, even if litigation does arise, you’ll be protected,” he added.
He delivered these insights during a dialogue and exhibition event held in Accra on Friday, December 13, aimed at educating interested individuals, groups, and firms from the UK, USA, other countries, and investors in Ghana.
The event, part of the “Ghana-Diaspora Home Purchase Expo 2024,” was sponsored by Accra-based Nilex Properties. It attracted officials from the National Fire Service, the Environmental Protection Agency (EPA), and tax experts. The expo aimed to bring together key stakeholders from the real estate and housing sectors in Ghana.
This marked the first-ever Ghana-Diaspora Home Purchase Expo held in the country.
