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Nairaland Forum / Nairaland / General / Properties / Before Buying Land With C Of O, Check The Survey Plan('One Chance' C of O) (218 Views)
The Importance Of The Red Copy Of A Survey Plan / ORIGINAL SURVEY PLAN,BUILDING PLAN DOCUMENT,BUILDING APPROVAL & CONSTRUTION / How To Verify Red Copy Of Survey Plan In Lagos Was Lodged (2) (3) (4)
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Before Buying Land With C Of O, Check The Survey Plan('One Chance' C of O) by drewe20(m): 5:09pm On Jun 06, 2019 |
When acquiring a property, it is always important to know if the property has a Certificate of Occupancy (C of O) or some other title. But it is more important to know if the C of O is defective. it is not uncommon for errors to be made during land title preparation. One thing you must do before acquiring a property with Certificate of Occupancy (C of O) is to check the survey plan. The most common error on a survey plan is wrong coordinates. This error usually results from typos or wrong GPS parameters. And it goes undetected because it is often impossible to know if the coordinate of a location is wrong by visual inspection. The implication of wrong coordinates on a survey plan is that the survey plan describes a property in another geographic location not the intended location. For example the property is in Surulere but when the survey is plotted/charted, the property falls in Agege. Errors in a C of O (or other land titles) can be corrected with a Deed of Rectifaction. However, before you decide to acquire a property with defective title, it is important to know the requirements for rectification so you can decide if it’s a process you want to go through. REQUIREMENTS FOR RECTIFICATION OF TITLE Application letter addressed to the Permanent Secretary, Lands Bureau. 2Nos. Deed of Rectification 2 Nos. Sunprint Survey plan for survey rectification Newspaper publication (half page) in a widely circulated Means of identification (National ID, Driving License, Voter’s Card or data page of valid International passport Sworn affidavit with photograph attached Receipts evidencing payment of rectification charges: 1.5% aggregate broken down into; Rectification Fee @ 0.75% of assessed value, Stamp duty @ 0.375% of assessed value and Registration @ 0.375% of assessed value www.oticsurveys.com/blog Follow us Twitter @oticsurveys Instagram @oticsurveys |
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