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The Most Important Questions You Should Have Asked Before Paying For That Land - Investment - Nairaland

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The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 2:48am On Oct 27, 2017
Many people, especially those who are about to make their first land transaction get confused when it comes to asking the right questions.

In some cases, intending investors ask questions like “where is the place?”, “Is it far?” and lots of other questions.
I’ve even had an encounter with someone who asked for the longitude and latitude of the land.

While these questions are not out of place and arise as a result of people trying to be careful so that they don’t make a financial commitment they would later regret, I think it will be better if they know the right questions to ask.

That brings us to the first question anyone intending to buy land should ask which is “what is the status of the land?”

See, before you buy land in Nigeria, it is very important that you know the status of the land!

Knowing the status of the land you are about to buy can save you a lot of money and unnecessary hassles.

Imagine buying a piece of land and erecting a building on it, just for the government to come some years after, and tell you to move out, with claims that your building is illegal because it is sitting on government property.

All these can be prevented if you know the status of the land you are investing in before sealing the transaction.
This brings us to Land Classification

Land can be classified as either free or acquired. A parcel of land is considered free if the government has not indicated any interest whatsoever in that land.
Such land is safe to buy because the title on the land can be perfected without issues.

In most cases, such lands will either have an excision, a gazette, a C of O or a governor’s consent.

Now that you understand what it means for land to be free, you should also know that all lands that fall within areas that are designated as urban areas are under government acquisition until deemed committed or free.

There are two types of acquisition;
1. committed acquisition and
2.general acquisition

*Committed acquisition*
A parcel of land is said to be under committed acquisition when the government has indicated an intention to use that land for a specific purpose such as provision of amenities.
Such lands belong to the government and can never be available for use by individuals.

If you purchase land that is under committed acquisition, it will be impossible for you to perfect your land title and you’ll only be occupying the land until the government comes to kick you out.

*General acquisition*
Lands that are under “general acquisition" or “global acquisition" can later be confirmed ‘free’ or ‘committed’.
A land under general acquisition can become free by a process called excision.

“Excision is a process whereby the government releases a portion of an expanse of land that is not committed"

If a parcel of land that was formerly under acquisition becomes excised, it is then considered free and becomes gazetted.

The gazette then becomes the title on the land and such land is safe to buy because a proper title can be processed on the land.

A second case where lands under general acquisition can be released is if an individual purchased a land that was under acquisition without going through an excision process.

Such lands can go through another process called “ratification” or “regularization” in which the land owner pays for the land to be ratified or regularized.

The only conditions in this case are that the land in question must not fall within a committed area and that the purpose for which the land was bought does not disrupt the original plan of the state.

Conditions for ratification may differ from state to state in Nigeria.


*In summary, this questions are essential in all land transactions and before a land transaction is consummated, its important that a prospective buyer of a parcel of land do his/her due diligence and conduct a land information on the survey plan to find out if the land falls under government acquisition or not, as well as authenticate the claim of ownership of the land by the seller


We at Rosedale Realty enable clients commence the process of getting a home or acquiring lands with genuine titles either for investment purpose.
Take advantage of our incredible offers this season; everyone deserves to own a HOME.


For more information, professional guide, and site inspections, please Call/Whatsapp: us on 08068677558 , 08158770323


https://www.youtube.com/watch?v=VUkiMJQpSAU

1 Like

Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 6:03am On Nov 02, 2017
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 11:23am On Nov 09, 2017
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This is the right time to invest for now and for the Future.

Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 3:47pm On Nov 13, 2017
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 7:13am On Nov 21, 2017
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 5:40am On Nov 29, 2017
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 11:17pm On Dec 05, 2017
......own a plot of land in a gated estate and be rest assured of a secured future.

Call David today on 08068677558 or 08158770323
Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:43am On Dec 14, 2017
We at Rosedale Realty enable clients commence the process of getting a home or acquiring lands with genuine titles either for investment purpose.
Take advantage of our incredible offers this season; everyone deserves to own a HOME.


For more information, professional guide, and site inspections, please Call/Whatsapp: us on 08068677558 , 08158770323
Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 1:25am On Dec 15, 2017
This is the right time to invest for now and for the Future.
Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 9:46pm On Dec 23, 2017
The value of these properties increases daily and in the very near future it would be the preferred home of many.

This is the right time to invest for now and for the Future.
Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 5:39pm On Jan 01, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 3:51pm On Jan 11, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 10:05pm On Jan 18, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 8:00pm On Feb 20, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 9:17pm On Mar 05, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 6:15pm On Apr 07, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 6:24pm On Apr 30, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:36pm On May 04, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 4:46pm On May 22, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:40am On Jun 04, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 2:01pm On Jun 06, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 7:38pm On Jun 09, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 10:06am On Jun 13, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 1:23pm On Jun 18, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:54pm On Jun 21, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 10:18pm On Jun 25, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:50am On Jul 03, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 2:06am On Jul 08, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 12:14pm On Jul 12, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 5:31pm On Jul 19, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 2:48am On Aug 07, 2018
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Re: The Most Important Questions You Should Have Asked Before Paying For That Land by threadstohn: 2:22pm On Aug 29, 2018
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