Before you pay for that land or property, talk to me about it ( you don't have to be buying from me though).

Part of my job as your friend and Realtor is to arm you with detailed information as regards real estate to enable you make the right investment decision.

I am always here for you.
Talk to me now.

#naijarealtor

....

Just as I promised in my previous post, today we look at land titles and documents and I hope this helps you have a better understanding of this things in your real estate investment journey.

1. SURVEY PLAN

A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land.

The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor general in Lagos as it relates to survey issues in Lagos.

A survey plan must contain the following information:
1. The name of the owner of the land surveyed

2. The Address or description of the land surveyed

3. The size of the land surveyed

4. The drawn out portion of the land survey and mapped out on the survey plan document

5. The beacon numbers

6. The surveyor who drew up the survey plan and the date it was drawn up

7. A stamp showing the land is either free from Government acquisition or not..
Legally speaking, a Registered Survey is not a title to land.
However, a registered survey is an important document in land transactions and it gives credence to the land for a number of reasons such as:
� *It shows that the person whose name appears on the land has a connection with the land*
� *Secondly, it shows that the land in question is free from government acquisition, that is there is no encumbrance on the land and the land can be freely bought from the rightful owner.*

2. DEED OF ASSIGNMENT
A Deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to that the Seller that has just bought land.
It is an agreement whereby an assignor state a promise that from the date of the assignment or any date stipulated therein, the assignor assigns his ownership in that Land to the assignee.
The deed contains a very pertinent information for a real estate transaction.
It spells out the date when the ownership of the property transfer will be effective and also a specific description of the property that is included in the transfer of ownership.
A deed of Assignment is one of the most important documents YOU MUST HAVE when you conclude a Land Transaction.
In fact it baffles me that some people I Know who have bought lands in time past have no deed of assignment.
Hence, they are always the first person to complain that Omonile has defrauded them but they have no proof to show the property has been sold to them other than a receipt.
In most situations, when the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction.
The Deed of Assignment spells out the key issues in the transaction between the Seller and the Buyer so that there won’t be any confusion or assumption after the property has been transferred to the new owner.

To be continued.

You can ask questions.

3. GAZETTE
A Gazette is an Official record book where all special government details are spelt out, detailed and recorded.
A gazette will show the communities or villages that have been granted excision and the number of acres or hectares of land that the government has given to them.
It is within those excised acres or hectares that the traditional family is entitled to sell its lands to the public and not anything outside those hectares of land given or excised to them. A gazette is simply a publication made by the government that so and so land on so so location has been excised.With a gazette the process of getting the C of O on the excised land can start.

4. 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.
An Excision means basically taking a part from a whole and that part that has been excised( given out by the government for free use) , will be recorded and documented in the official government gazette of that state.
In other words, not having an excision means the land could be seized by the Government anytime without compensating you even if you bought it “Legitimately” from the Baale or the Original dwellers on the land...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.


Any questions so far?

5. CERTIFICATE OF OCCUPANCY
A C of O is the officially recognized Document for demonstrating Right to a Land for a period of 99 years.
*What happens after 99 years?*
That question is still a subject of debate among experts as many have adopted a wait-and-see attitude while others postulated that as the new owner of the land, you the buyer, can renew the certificate of occupancy when it expires which seems to make sense.

� TYPES OF C OF O
Basically, there are two types of C of O which are:
1. Global C of O
2. Individual C of O

1. Global C of O is a C of O covering several parcel of lands owned by different people which was applied for as a joint application. It applies to a large expanse of land.

2. Individual C of O covers just a plot or few plots of land.

It is important to note that if a land already has individual C of O or Global C of O carrying a particular name; say for instance, the Global C of O covering all the estates in oshoroki is in the name "LEKKI COASTAL association".Another C of O cannot be issued again. A parcel of land can never be issued more than 1 C of O no matter how many times it changes ownership.


The End of this session.
You can ask questions.

Thank you sir, I've learnt something new today

allen113:
Thank you sir, I've learnt something new today

You're welcome. More to come

Difference between Bills of Sale & Contract of Sale

The type of documents issued after a sale is what differentiates Personal Property from Real Property.

A Bill of Sale is a formal document that transfers ownership of goods from one person to another. A bill of sale serves as a legal evidence that the seller has transferred possession of goods to another party. A bill of sales is used for personal properties.

For real properties, an invoice or receipt is not enough to effect a sale hence you need the Contract of Sale to make it more legal. A Contract of Sale is an agreement between the seller and buyer of real estate to state the considerations, obligations and other terms for the transfer of ownership.

UNDERSTANDING LAND SIZES AND MEASUREMENT.

I wanted to write on this but found an article online about it. This article explains it better in simple terms and I wouldn't have done it better.

So I will just go ahead and share the article with a little modifications but all accolades to the original writer.

Most people who purchase lands in Lagos don't really understand the meaning of this Real Estate terms. As a potential buyer wishing to buy a land or build a new house you must be conversant with a few of this figures. The first hurdle is to understand the system of Land measurement in Nigeria.

In Nigeria today, Land is measured in Hectares, Acres, Meters and Feet. These measurements are affected by factors, which includes development pattern, human and environmental factors.

Lets start by asking what is the size of standard plot in Nigeria?

According to the dictionary meaning of a plot: A plot is a marked out piece of Land for the purpose of building or farming. The word 'plot' is an arbitrary term used to describe a land division carved out for property development.

The size of a plot can vary for different reasons but according to Nigeria's land division, the appropriate plot for a house construction is 50 x 100ft which can accommodate a standard house with a small compound. To better understand Land divisions used in Nigeria, different units of area are used as follows:

Hectares (ha)

A hectare is one of the least known metric units and one which potential buyers and Estate developer seems to struggle with - it is a land measuring 100m x 100m OR 328ft x 328ft OR 10,000sqm. It is about two and half acres. A Hectare consist of 15 plots.

ACRE

An Acre is a standard unit of measurement used by Land sellers and it is almost equivalent to the size of a standard football field. An Acre is a product of any rectangular plot of land giving a total of 4,046sqm OR 43,560sq ft. An Acre consist of 6 plots each measuring 60 x 120ft.

In Lagos State, the standard size of a plot is 60 x 120ft ( 18m x 36m i.e 648sqm), while in some other cities of the country, plots are measured in 50 x100ft.

Written by

Esv Ann Nwaukwa, ANISV, RSVEstate Surveyors & Valuers at Paul Osaji & Co.

Do you have any question?

*WHY SHOULD I BUY AN OFF-PLAN PROPERTY?*

Buying an offplan property means you are buying at a discounted rate which means your investment has already appreciated before completion. In other words, you are buying the property below the market value. That is juicy right?

Allow me give to you an insight into some of the advantages of buying an Off-plan property...

�When it comes to off-plan purchase, you build along with the developer from the foundation stage to the finishing stages. This is a great advantage because you get to see the materials used for construction.

�You can make some internal adjustments in respect to the sizes, designs and layouts before completion.

�Also the property is brand new and you can have an input into the central decor, POP designs and fittings.


�A house bought before completion has great advantage because you have the opportunity to pay as you build, meaning instalment payment is very much accepted.

����‼️ �� ����� ������ ������ ��� ����� ������ � ������ �������� �


There are things that you should do before and after buying a landed property to guide your interest and also avoid being scammed or duped.

Below are some of them ��

1. Due Diligence /Investigation:

It is crucial to engage the services of a legal professional to investigate the land at the registry and Surveyor-General's office to verify if the co-ordinates have not been flown (falsifying the survey plan by doctoring co-ordinates to read as free from all encumbrance whilst property falls within a government committed land) or if you're buying from the natives (Omoniles) make sure you are dealing with the principal/accredited members of the family.

The property should be investigated. It is important to conduct a search and be sure that the property is free from all sorts of encumbrances.

2. Documentations

Ensure that the transaction is captured by way of a deed of assignment or grant or contract of sale.

Do not drop documents to pick up later when dealing with the natives as you cannot tell if they were duly signed/executed by the accredited members of the family, or if they were carried along throughout the transaction.

A registered surveyor must also perform a survey exercise on the said parcel and duly lodge a record copy at the surveyor general's office.

3. Title Perfection

In securing your purchased property, perfecting the transaction is essential and should entail applying for the governor's consent or Certificate of Occupancy at the relevant authority.

And when the governor's consent is obtained, it is advisable to register your title documents at the land registry.

The combined effect of this is that in the case of adverse claimants, the "first in time" rule applies. Simply, where there are contesting claims to the same property, the court awards ownership to whoever registered first in the lands registry.

Again a non-registered document could be rendered inadmissible in court as evidence of a transaction.

4. Take Possession

Most importantly, take possession of your property. Possession in law is nine-tenth of ownership.

You must exercise acts of ownership to ward off trespassers.
Acts such as cultivating, building, fences, etc. are not enough. Possession must be physical.

If you have dealt with the natives (Omoniles) and you are not in physical possession, then prepare to be relocated or to be re-allocated to another plot that is either far off from the major road or also belongs to another person.

This is why It is smart and advisable to buy Real Estate properties through a trusted Realtor Like me.

Are you thinking of Investing in the Real Estate market?

I help Individuals make the best Real Estate Investment decisions and I want to help you too.

Send me a message now for a free consultation session.

Its #nigeriaat62 and we celebrate with you wishing you a prospect fulfilling month of October and more real estate investments to your portfolio in the rest of the year.

Happy New month and happy Independence.

EASY STEPS TO VERIFY LAND TITLES/CLAIMS.


As you know, I am an advocate of Due diligence in real estate transactions. This cannot be over emphasized. IT SAVES YOU FROM A LOT.

Below, are a few practical steps to take to verify land titles and claim before purchase.

Every land/property is in a *LOCATION* in that location, the land occupies a *PORTION* to understand this portion, you need the *COORDINATES*

STEP 1:
To verify the location ( take for instance the title is EXCISION). A visit to the land register of the state is required. You need the excision plan number of the location. Excision is not issued to an individual it is done in the name of the community. This verification help you confirm the authenticity of the title to ascertain that you are not buying into a committed area.


STEP 2:
To verify the portion. You need the survey document which contains a lot of information including the beacon numbers and coordinates. This is done at the office of the surveyor general. This helps you ensure the survey is authentic and valid. You can further take your own surveyor to the site to ensure the coordinates on the survey plan matches the one picked at the site. (At the end of this write up, a link to read about land titles and documents is attached )


STEP 3.
CAC verification. This only applies when you are buying from a company. The essence is to confirm if there is an encumbrance or charge registered in CAC with regards to the company's assets.

STEP 4.
Validity at the probate registry. This is basically to confirm that the vendor has a right to sell the said property in the case of a deceased person.

STEP 5:
Traditional investigation. This applies when you are buying from an individual or a family. This is to know for certain that the family name is not void or voidable and also identify all key players involved.

STEP 6:
Site inspection. It is always important to visit the site to evaluate first hand and confirm other features like topography, surrounding developments, level of work done etc.

Due diligence is a very important aspect in real estate that is why we have taken time to verify title/claims of all the properties in our portfolio for you to save you the stress and ensure you buy a piece of the earth with PEACE OF MIND.

November is almost gone and as we enter the month of December, I wish you joy unending and hope you fulfill your real estate investment plan for the year.

As promised, Click link below to understand land titles and documents

https://www.facebook.com/100063996067451/posts/pfbid027QMojy1z2eGpWsJMk65JCtn3Z1JfgPQ4gB1YZRuAxrSEUpcRDSKcWKW6foPstFpWl/

#naijarealtor

*DETAILS TO CHECK FOR IN YOUR SURVEY DOCUMENT*

The last quarter of the year is always a time for land allocation and hand over of documents to clients (who have fulfilled all obligation).

One of the document you receive is the SURVEY PLAN.

It is a very important document, but a lot of clients pay less attention to its details. Below are things to look of for in your survey document.


A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land.

The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor general in a state as it relates to survey issues in that state.

A survey plan *MUST* contain the following information:

1. The name of the owner of the land surveyed

2. The Address or description of the land surveyed

3. The size of the land surveyed

4. The drawn out portion of the land survey and mapped out on the survey plan document

5. The beacon numbers

6. The surveyor who drew up the survey plan and the date it was drawn up.

7. A stamp showing the land is either free from Government acquisition or not..

Legally speaking, a Registered Survey is not a title to land. However, a registered survey is an important document in land transactions and it gives credence to the land for a number of reasons.


Welcome to 2023. Take due diligence serious. HAPPY NEW YEAR.