FIRST STEP BEFORE BUYING THAT LAND

Acquiring immovable properties anywhere in Nigeria is a constitutional right pursuant to section 43 of the 1999 Constitution of the Federal Republic of Nigeria (as Amended). As long as a person remains a citizen of Nigeria, his rights to acquire immovable properties such as lands, buildings, fixtures, etc are protected by law.

However, vast majority of Nigerians do not know the major steps to be taken when acquiring properties (real estate) in Nigeria. In some cases, many have been victims of fraud, deceit, undue influence, and unconscionable conducts. Some have had their lands sold to another purchaser after years of abandonment. Worst still, some land owing families in Nigeria are poised at selling the same tract or parcel of land for many purchasers at different times. The foregoing has led to an increase number of skepticism and unnecessary worries in purchasing lands in Nigeria.

Nevertheless, the first step to be considered before purchasing any real property in Nigeria, or even negotiates one with a vendor is to carry out “Charting”. What though is “Charting”? Charting is a practice in which a particular land or property is investigated using a Geographical Positioning System GPS to determine the current status of such property. The result of the charting will reveal if the prospective purchaser can proceed with the purchase or run off from the zone where the land or building is situated.

BENEFITS OF CHARTING

The benefits of charting are numerous. Firstly, it imposes confidence on prospective purchasers; secondly it exposes any fraudulent activities on the part of the vendor(s); thirdly, it acquaints prospective purchasers of any likely governmental interests or stakes in the property charted; fourthly, it reduces unnecessary expenses that are usually incurred by purchasers where the land is subsequently discovered to be under government acquisition but ratifiable. The cost of ratification is always exorbitant but could be averted vide preliminary charting information, etc.

PROCEDURE FOR CHARTING INFORMATION

An individual or corporate entity wishing to conduct a chart on a particular property may simply forward an application in writing to the Surveyor-General of the State asking for charting information to be provided. In Lagos State, the amount is in the sum of N5,000.00 along with the State Charges on every transactions from N5,000.00 and above. The application letter will be supported by a copy of the survey plan of the property in question (if the property already has a survey plan, but where there is no survey plan, coordinates will be taken from the intended property for purchase) whether original or photocopy. A form soliciting detailed information of the applicant will be given at the reception of the Surveyor-General Office, and upon confirmation of the payer-id of the applicant, a payment advice will be issued, while the applicant proceeds for payment using any available channels including electronic and mobile payment channels. Upon completion of payment, the applicant will generate a payment confirmation from the Lagos State Government EBS Platform. In all, the application letter, applicant’s detailed information, payment advice from the OSG, bank receipt, payment confirmation, will be submitted for processing of the Charting Information.

Following this simple but logical first step before purchasing any real property in Nigeria is essential and life saving.

For More Information/Consultation:
SQUINT PARTNERS
Real Estate Consultant & Property Managers
+234-07032511885 (whatsapp)
+234-08025350003
adeolalaw@ymail.com