Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,154,591 members, 7,823,575 topics. Date: Friday, 10 May 2024 at 11:49 AM |
Nairaland Forum / Nairaland / General / Properties / Understanding Land Titles (325 Views)
Understanding Land Sizes & Measurement In Nigeria Real Estate Investment / understanding Land Sizes And Measurement / Understanding Land Documents And Titles (2) (3) (4)
(1) (Reply)
Understanding Land Titles by dezealdig: 9:01am On Mar 02, 2018 |
There is a need to understand land titles before investing in any landed properties. EXCISION IN PROCESS WITH KL FILE NO This means the process of getting excision for a land has been initiated evidence by the KL File no. Excision is the RIGHT of the community as the 1979 land use ACT recognizes ancestral ownership of land. This means there is high chances of approval than rejection. EXCISION Land Use Decree on the 28th of March, 1978 that vested all lands in every state of the Federation under the control of the State Governors. The Land Use Act coupled with other laws made it possible for the Governor who was now the owner of all lands in the state to actually have the power to Acquire more lands compulsorily for its own public purpose to provide amenities for the greater good of the citizens. Fortunately, the government recognizes that indigenes of different sections of the country have a right to existence . . . a right to the land of their birth. Hence, it is customary for state government to cede a portion of land to the original owners (natives) of each area. An Excision means basically taking a part from a whole and that part that has been excised, will be recorded and documented in the official government record of the state called "GAZETTE”. GAZETTE Gazette means the official documentation of an already excised land in the Official Gazette of the state. CERTIFICATE OF OCCUPANCY A Certificate of Occupancy (CofO) is the official government document indicating that the Statutory right to parcel of land has been given to the first occupant for 99 years in accordance to the Lagos Land use ACT of 1978 GOVERNOR'S CONSENT A governor’s consent can only be processed on a land with either Gazette or an Existing Certificate of Occupancy (C of O). If a person with land with C of O decides to sell his land, the only documents that can give the new buyer or every other subsequent buyers the right of occupancy or ownership is a governor’s consent. The powers of the Governor to consent to such transactions can be found in Section 22 of the Land Use Act of 1978 which states thus 'It shall not be lawful for the holder of a statutory right of occupancy granted by the governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained'' This simply means therefore that even when a buyer has secured a land with a Certificate of Occupancy, he shouldn't stop there. He needs to begin the process of obtaining a Governor's consent to make that purchase legal in the eyes of the government and be rest assured his land is safe.
|
(1) (Reply)
540sq.m And 4,600sq.m Land For Sale In Banana Island / WAREHOUSE FOR LEASE 1112.30sqm For 2yrs Or More PH city / Refinery For Sale At Akwa Ibom 12b
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 10 |