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Avoid Buying Land Under Government Acquisition - Investment - Nairaland

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Avoid Buying Land Under Government Acquisition by TowerGlobal22: 12:46pm On Feb 28, 2018
AVOID BUYING LAND UNDER GOVERNMENT ACQUISITION

Before #buying that #land it is very important to verify its source and pertinent to check whether or not it is under government acquisition because the government have the right to kick you out at any time if your building stands on its acquired land.

To avoid the huge lose on your #investment you must know that the land use act of 28th March 1978 vested all lands compromised in the territory of each state (with exception to lands vested in the federal government or its agencies) solely in the control of the Governor of that state.

This implies that the state governor owns all lands in its territory and has the power to use the land for public benefits like building of roads, schools, health care centers, library e.t.c

Fortunately, the government also recognizes that the indigenous people of the state have a right to the land their birth hence a portion of land can be ceded to them through a process called #EXCISION. Afterwards the excised land is recorded in the official document of the state called a #GAZETTE.

Excision basically means taking a part from a whole and giving back to the community

However a #GOVERNORSCONSENT must be attached to the document of excision indicating permission from the state government.

For plot purchase and inspection bookings call/whatsapp 08033431038

Kindly click on link below to view fast appreciating properties in lagos state smiley

https://www.facebook.com/TowerGlobalRealtors/

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