Buying Property in Nigeria: Should You Use Your Personal Name or a Company Name?

Let’s be honest — in Nigeria, buying property is a big deal. Whether it’s that first plot of land in Ibeju-Lekki, a block of flats in Enugu, or a short-let apartment in Abuja, the joy of finally saying “I own it” is unmatched.

But then, there’s this question many people overlook until the lawyer brings it up:

“Do you want the property in your personal name or your company name?”

At first, you might think, “Ah ah, what’s the difference? As long as it’s mine!” — but there’s actually a big difference.

Let’s break it down in everyday language.

1. Buying in Your Personal Name

This is the most common way Nigerians buy property. You simply register the title (C of O, Deed of Assignment, etc.) with your full legal name — Chinedu Okafor, Maryam Yusuf, or John Adewale.

🍃 Advantages:

🍃 Simple & Straightforward – No need for complicated paperwork or company documents. 🍃 Personal Control – You don’t have to worry about “board approvals” before selling or transferring it. 🍃 Emotional Satisfaction – For many people, it just feels more personal seeing your own name on the documents.

📍Example: If you buy a plot in your name and decide to build a duplex for your family, it’s fully yours. You can gift it to your child without anyone else’s approval.

📍Risks/Disadvantages:

🍃 Estate Planning Issues – If something happens to you, it can get stuck in family disputes or probate court before your heirs can claim it. 🍃 Higher Taxes in Some Cases – If you later want to transfer it to a company, you’ll pay extra charges. *🍃 Personal Liability – If you have debts, creditors can go after the property.

2. Buying in a Company Name

This means the property legally belongs to your business (e.g., Bright Homes Ltd or A & Sons Ventures).

📍Advantages:

🍃 Better for Investment Properties – If you’re buying for commercial purposes (short-let, rentals, resale), this makes accounting and taxes easier.

🍃 Continuity – Even if the founder passes away, the company still owns the property, and business goes on.

🍃 Limited Liability – Your personal debts won’t automatically affect the property.

📍Example: If A & Sons Ltd buys an office building in Lagos, it’s easier to bring in partners or investors without changing the whole ownership structure.

📍Risks/Disadvantages:

🍃 More Paperwork & Costs – You need your CAC documents, board resolutions, and in some states, companies pay slightly higher registration fees.

🍃 No Emotional “It’s Mine” Feeling – The property legally belongs to the company, not you directly.

📍*Which Should You Choose?**

Here’s a simple rule of thumb:

🍃* If you’re buying for personal use (your family home, a gift for your children, or land you just want to keep), buy in your name.

🍃* If you’re buying for business or investment (flats for rent, short-let, malls, hotels), buy in a company name.

👌 Pro Tip: Some smart Nigerians do a mix — they buy personally, then later transfer to their company for tax or business purposes. Others register a family company so all property stays within a legal structure that’s still theirs.

Bottom line — there’s no one-size-fits-all answer. It depends on your goals, your finances, and your long-term plans. The key is to decide before paying for that property, so you don’t regret it later.

🏢 Ready to make a smart investment move?

Get in touch with PHUERZA EMPIRE:

📞 PRINCESS: +2348135937938 📞 PAUL: +2348093621590

📍 Visit us: • Nwakpadolu Estate, Awka G.R.A • Orpet Filling Station, Immigration Junction, Awka

🌐 www.phuerzaempire.com.ng 📱 FB: Phuerza Empire

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