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Some Property Laws In Nigeria - Properties - Nairaland

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Some Property Laws In Nigeria by Chibu100(m): 1:15pm On Apr 02, 2021
• Land use act(1976) Act CAP L5 LFN 2004: This is the most law regulating and governing issues relating to land/property ownership & transaction in Nigeria. It was promulgated by the then head of state Gen Olusegun Obasanjo on the 29th of March 1978.
The act vested all land compromised in territory of each state (except land vested in the Federal Government or its agencies). solely to the Governor of the state, who would hold such land in trust for the people and would henceforth be responsible for allocation of land to individuals or organization resident in the state.

•Land instrument registration laws: The law was enacted to regulate registration of instrument that are executed prior to and after the establishment of the act in Nigeria. Registrable instrument includes an estate contact, a deed of appointment or discharge of trustee containing expressly or impliedly a vesting declaration affecting any land. The law seeks to guarantee genuine land title documents that have been investigated and registered by the registrar of titles in each state of the federation.

• Rent control and recovery of premises acts: The rent control and recovery of premises acts was enacted in each state of the federation to guide and regulate all matters relating to landlord-tenant relationship in any residential property lease transaction. The main purpose for the enactment of this law was to restrict the common law rights of a landlord with the intent of regulating the recovery and restraining unlawful eviction of the tenant from the landlord's premises. The law spells out the proper procedure which a landlord should take in recovering possession of his/her residential property from the tenant after expiration of the rent period. These procedures are primarily spelt out so as to protect the tenant against that of the landlord.

• Tenement rate laws of Nigeria: Tenement or property rating is a form of tax levied on landed properties by some local government authorities in Nigeria to raise additional revenues required for specific developmental projects within such local government area. The law is enacted to impose tax on built up landed properties in Nigeria which is collected at the local government level on owners of such built up properties.
The premise for enacting of the law is to levy property owners towards contributing to raising additional funds for infrastructural development projects been embarked upon by the local government authority where such property is situated. Every state in Nigeria has their own tenement rate laws at the local government level applicable to built up properties.

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