IMPORTANT LAND TITLES IN LAGOS AND WHAT THEY MEAN
Understanding land titles enables you to know which land to purchase and which one to avoid. A land purchase can be a very profitable investment and it can also lead to loss of money and court actions. To avoid the bad side, you need to understand different land titles and their legal implications.
Looking at Land Use Act 1978; This act vests all land comprised in the territory of each State in the Federation in the Governor of that State and requires that such land shall be held in trust and administered for the use and common benefit of all Nigerians in accordance with the provisions of this Act. Therefore, any citizen that’s willing to have a right to a land in such state is granted a right of occupancy for a period of 99years. Now you know that all land belongs to the government! We will now consider the different land titles in Lagos State, Nigeria.
1. FREE OR UNDER GOVERNMENT ACQUISITION
Free land is a land that the state or the federal government has not indicated
any interest in it. On the other hand, a land under acquisition is one in which the government has indicated an interest.
Have you ever heard of a situation where the government demolish houses within acquired areas? It can lead to a devastating loss, right?
Therefore, you need to conduct a Land Search at the Lands Registry, through a professional, to know if the land is free or under acquisition.
2. GLOBAL ACQUISITION OR COMMITTED ACQUISITION
Land under a committed acquisition means that the government has designated the land for a specific purpose, for example, airport, school etc. On the other hand, a global acquisition refers to land that has been acquired by the government but with no specific purpose yet. Thus, the land can become free through two processes;
(a) Excision and
(b) Ratification.
3. EXCISION AND GAZETTE
To Excise a land means to cut it. Excision is a process whereby the government of a particular state releases a parcel of land that has been under a global acquisition in the past, to the indigenous owners, a family or an interested individual. When such excised land is published in the government official gazette, it is then said to have a gazette as a title. This land is now safe to buy as it now has a good title
4. CERTIFICATE OF OCCUPANCY (C of O)
This is the most popular land title which popularly known as C of O and it has a very good title. A certificate of occupancy is a document issued by the Government of Lagos State or any state in Nigeria which connotes a lease for a term not exceeding 99years. It is used to confer ownership on the individual or entity.
5. GOVERNOR’S CONSENT
When a land with a Certificate of Occupancy is sold to another person, the governor’s consent is required, according to Section 22 of the Land Use Act 1978.
Just as the name sounds, the title shows that the governor has consented the transfer of ownership of such parcel of land.
6. REGISTERED DEED OF ASSIGNMENT
A deed of assignment is a document that shows evidences that the ownership right to a land has been transferred from the seller to the buyer.
7. GRANT OF PROBATE
A grant of probate is a document derived after proving the will of a deceased person through inheritance in the probate registry. This document vests all the assets contained in the will into the executors of the estate, who are now recognized as legal owners of the property in law. After the owner of any property has become late, all the property's documents of such person are no longer valid to transfer any interest in the assets left behind by him or her. The Probate will now be the only recognized legal documents to prove the title to such property.
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Written by:
Faith Idowu
Masterfaithrealty
Nice write up 👍👍
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