Investigating Dispute and its Effect on Real Estate Transactions: Evidence from Traditional Urban City in Nigeria

Abstract

Clash of interest seems to be unavoidable in real estate matters. This could be due to the market’s complexity and the heterogeneous participants involved. The study examined the causes of dispute and its implication on real estate transactions in Akure (a traditional urban city), Nigeria. Data were collected through questionnaires administered to the target respondents, which comprise disputant residents and Estate Surveyors, and Valuers. The results were analyzed with mean item score and agreement analysis. Findings are that multiple allocations of land and boundary conflicts are the significant factors causing disputes within the study area. It was also discovered that development delay and market interruptions are the substantial implication in the disputes arising from real estate transactions. The study recommends that the concerned authority on land matters should ensure proper land record-keeping. This will help put to check the problem of multiple land allocations. Also, the appropriate land boundary mapping should be done to mitigate issues arising from boundary conflicts.