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Please Avoid This Land Investment Mistake - Properties (2) - Nairaland

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Re: Please Avoid This Land Investment Mistake by Nobody: 4:30pm On Jan 14, 2018
If he has C of O it's a simple matter. He owns the land and the boarding school on it. It doesn't matter if he has left the land for two decades.
Re: Please Avoid This Land Investment Mistake by ophilly: 5:05pm On Jan 14, 2018
c733d:
If he has C of O it's a simple matter. He owns the land and the boarding school on it. It doesn't matter if he has left the land for two decades.

Gbam.....
Re: Please Avoid This Land Investment Mistake by valentineuwakwe(m): 5:22pm On Jan 14, 2018
I see this man as getting too much money sha....how would you buy a land and not fence it with gate knowing too well you are not yet ready to build on it. ....where was he all this while and where him mind dey since these past ten yes.....this man self....
Re: Please Avoid This Land Investment Mistake by arrestdarrester: 5:34pm On Jan 14, 2018
c733d:
If he has C of O it's a simple matter. He owns the land and the boarding school on it. It doesn't matter if he has left the land for two decades.

Not really.

If the boarding school has an older C of O, then he was scammed.

If his C of O is same time as the boarding school (it can happen in Naija, no ask me how Ooo), then he has lost as the only person known to be 'occupying' at the earliest material time was the boarding school.

If his C of O is much older than the boarding school, then the boarding school was scammed!

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Re: Please Avoid This Land Investment Mistake by BabylonCruise(m): 6:59pm On Jan 14, 2018
slawomir:
but wait o you go just buy land abandon am make he become forest for the area simply because you want make profit in the future. definitely the community go resell am na make the area for develop.
hahahahhahahahahahhahh

those bull shiit used to happen regularly in Benin City.

a situation were you buy land and before you could say jack Robinson another high budget asss moda fucker will just develop it for you simply because the land was resold for failling to develop it yourself on time

But since the new oba came to power
oba ewuare ii ne ogidigan
he put an end to those rubbish. ordered CDA and those chairmen wahalar to stop. that is community development association.


although the thing affect my family small sha
unto one of my uncle na chairman for one community for Benin before the oba put an end
that year we go just dey chop money anyhow
dey drink bear
boys go just dey call my uncle

"he is a chair there"
that year enough cars for our compound before but now na only one Lexus 350 remain.
he pain me small sha
that time if you want build your house you must pay
to connect light you must pay
to sink bore you go pay


Noise maker.

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Re: Please Avoid This Land Investment Mistake by fm7070: 7:32pm On Jan 14, 2018
He can resell the land to the owner of the hostel, that is after rigorous litigation process
Re: Please Avoid This Land Investment Mistake by ArodeTsolaye: 7:32pm On Jan 14, 2018
He was careless. The boarding school won't leave without litigation. He should get ready for another 10 years of court case at the high court and another 10 years at the Appeal court. The useless judicial system of the zoo is only meant to enrich lawyers and Judges not to disseminate and fast-track Justice to people who seek for it.

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Re: Please Avoid This Land Investment Mistake by GoldNiagara(m): 8:02pm On Jan 14, 2018
arrestdarrester:


Not really.

If the boarding school has an older C of O, then he was scammed.

If his C of O is same time as the boarding school (it can happen in Naija, no ask me how Ooo), then he has lost as the only person known to be 'occupying' at the earliest material time was the boarding school.

If his C of O is much older than the boarding school, then the boarding school was scammed!


Cofo isn't even a good root of title. So don't bank too much on Cofo chief. If you derive your root of title from a defective root of title. There is limitation of time for bringing a suit in respect of land otherwise you extinguished your right in perpetuity to the land.


Yeah it is 12 years limitation of time.

2 Likes

Re: Please Avoid This Land Investment Mistake by kenoz(m): 9:11pm On Jan 14, 2018
Nice info
Thanks op
Re: Please Avoid This Land Investment Mistake by Akainzo(m): 11:14pm On Jan 14, 2018
GoldNiagara:



Yeah, he should quickly take out a suit before it will be too late to go to court.

It is already too late!

The Supreme Court of Nigeria has already settled this. If he never informed the church of their trespass during the construction stage, he has lost title to the land..

The SC has that stand to prevent people waiting until someone completes building and then trying to take ownership of his structure by claiming the land.

If you didn't notify the trespasser earlier and he / she takes possession and completes the structure, you are too late!
Re: Please Avoid This Land Investment Mistake by Jhamzy(m): 12:18am On Jan 15, 2018
drewe20:
PLEASE AVOID THIS LAND INVESTMENT MISTAKE

A real estate surveyor friend of mine called me concerning a client of his who has about 2 hectares of land in Ogun state. This man bought the land, obtained a C of O (Certificate of Occupancy), and didn’t bother visiting the land for more than 10 years. His plan was to buy, keep it for some years and sell it later at a good price.

Now he needs money and wants to sell but he does not know how to locate the land because the whole area is now built-up. The area has undergone massive development.

Due to the man’s situation, we decided to help him locate his land free of charge. We were able to locate the land using the coordinates on the Survey Plan.
Unfortunately, sitting on the man’s land now is a boarding school that has been operational for years!

Please learn from this man’s mistake. If you want to buy land, keep it for some years and sell at a good profit, find a way to keep an eye on it. Visit the land often, lease it to a mechanic, have someone in the area watch over it for you or use it for farming.




Keep an eye on your investment.

Best way is to fence it round, give it out on a lease and still visit there routinely. And also put a big sign that the land is not for sale.
Re: Please Avoid This Land Investment Mistake by 400billionman: 1:03am On Jan 15, 2018
My mind is telling me, the land has changed ownership.

The owner of this thread is a professional architect and he has refrained from commenting.

Already a completed structure stands on the land.
Re: Please Avoid This Land Investment Mistake by DedeNkem: 4:00am On Jan 15, 2018
How could someone buy a land and never visited it for 10 years.

On the other hand, how could someone steal a land and develop it.

When I buy a land I fence it. The fence keeps land grabbers away.
Re: Please Avoid This Land Investment Mistake by drewe20(m): 4:55am On Jan 15, 2018
ihebrooke:
@ drewe20, thanks for the info. However, I would like to know how everything was resolved. Did they settle the issue?

Not yet. He is working on it. It is a very recent case.
Re: Please Avoid This Land Investment Mistake by drewe20(m): 4:56am On Jan 15, 2018
3millionia:
this is serious grin



learnt today, op thanks alot


You are welcome
Re: Please Avoid This Land Investment Mistake by drewe20(m): 4:58am On Jan 15, 2018
manmidtexy:
Thanks op.

Ur writeup may seem everybody know it but this info is hgihly educative to put land owners to remembrance always to check from time to time on their properties.

You are welcome
Re: Please Avoid This Land Investment Mistake by drewe20(m): 5:01am On Jan 15, 2018
blessed2018:


Well, is there no way for him to get back the land since he has the original papers?

Yes he can because he has C of O.
Re: Please Avoid This Land Investment Mistake by drewe20(m): 5:03am On Jan 15, 2018
valentineuwakwe:
I see this man as getting too much money sha....how would you buy a land and not fence it with gate knowing too well you are not yet ready to build on it. ....where was he all this while and where him mind dey since these past ten yes.....this man self....

Fencing a land of almost 2 hectares costs a lot of money.
Re: Please Avoid This Land Investment Mistake by drewe20(m): 5:05am On Jan 15, 2018
DedeNkem:
How could someone buy a land and never visited it for 10 years.

On the other hand, how could some steal a land and develop it.

When I buy a land I fence it. The fence keeps land grabbers away.

Fencing a land of almost 2 hectares is very expensive
Re: Please Avoid This Land Investment Mistake by drewe20(m): 5:07am On Jan 15, 2018
fm7070:
He can resell the land to the owner of the hostel, that is after rigorous litigation process

Yes. This is one of the options he has.All the man wants now is money. He doesn't want the land.
Re: Please Avoid This Land Investment Mistake by GoldNiagara(m): 6:37am On Jan 15, 2018
Akainzo:


It is already too late!

The Supreme Court of Nigeria has already settled this. If he never informed the church of their trespass during the construction stage, he has lost title to the land..

The SC has that stand to prevent people waiting until someone completes building and then trying to take ownership of his structure by claiming the land.

If you didn't notify the trespasser earlier and he / she takes possession and completes the structure, you are too late!


Please give me the case and the citation of the case. Most obliged!
Re: Please Avoid This Land Investment Mistake by GoldNiagara(m): 8:11am On Jan 15, 2018
Akainzo:


It is already too late!

The Supreme Court of Nigeria has already settled this. If he never informed the church of their trespass during the construction stage, he has lost title to the land..

The SC has that stand to prevent people waiting until someone completes building and then trying to take ownership of his structure by claiming the land.

If you didn't notify the trespasser earlier and he / she takes possession and completes the structure, you are too late!

I doubt supreme Court will we aside the ageless principle of quic quid platatur solo solo cedit, that he who owns the land owns what is on it.Still waiting for the case and citation.
Re: Please Avoid This Land Investment Mistake by DedeNkem: 1:52pm On Jan 15, 2018
drewe20:


Fencing a land of almost 2 hectares is very expensive

Isn't it more expensive now that someone stole it long time ago?
Re: Please Avoid This Land Investment Mistake by Nobody: 2:28pm On Jan 15, 2018
arrestdarrester:


Not really.

If the boarding school has an older C of O, then he was scammed.

If his C of O is same time as the boarding school (it can happen in Naija, no ask me how Ooo), then he has lost as the only person known to be 'occupying' at the earliest material time was the boarding school.
If his C of O is much older than the boarding school, then the boarding school was scammed!

There's nothing like older or newer C of O. You either have C of O or you don't.
Re: Please Avoid This Land Investment Mistake by drewe20(m): 6:35am On Jan 15, 2019
GoldNiagara:



Please give me the case and the citation of the case. Most obliged!

Are you a lawyer?

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