Very insightful. How much does a plot of land in estate in Abeokuta cost?

ok

Sachiopropty:


One unique property of land is that it is everywhere! Of course, you already know this, and I’m sure you would, in one way or the other, have asked how the different sizes of land are measured, dimensions such as Hectares, plots, and Acres. You might have seen some certain advertisements on your television displaying sales of landed property in different areas of the country.

Most of these adverts are something like “Buy landed property at 2 million Naira per square metre” or by a hectare or plot or acre of landed property at a special price. The truth is that everyone uses land, i.e. schools, businesses, churches, houses, hospitals, gas stations, and the likes to use the property. Land is a vital commodity in the market, which brings up the issue of buying space (in the form of tiny plots) in some areas.

This is also a form of land purchase, although the payment for space is usually renewed every year. Now some of the questions you would want to be answered include how large a square metre is? All these questions and many more will be answered here in this article.

How Land Is Measured in Nigeria

Nigeria, a vast country with a population of over 200 million people, is enormous in terms of landmass. In Nigeria, there are two primary means of measurement, to obtain a practical calculation of land size, and these are the metric, which measures in hectares; the imperial, which weighs in Acres.

The system of measurement most indigenes of the locality use in calculating the accurate size of landed property in Lagos is the imperial system of analysis, which are taken in inches, and feet. While the imperial method is acceptable to locals, professionals and other highly educated people prefer the metric system of measurement, i.e. meters, cm, millimetres.

Either way, both are great in measurement, but the only problem involved is the variation due to human or environmental factors. Let’s see some standard units of measurement units used in making accurate land measurements before we go into these problems.

Units of Measurement in Land Sizes Allotment

Plots

In some parts of Nigeria, plots are calculated 50 by 100 ft., while in Lagos, parcels can be calculated in 60 by 120 ft. Although, the standard measurement is 50 by 100 ft., and is known to be standard enough to accommodate a well-built house.

A plot is a name for measurement or allotment of land used primarily for building development or farming. A standard plot measures 648 square meters ( that is 60 x 120 ft )

Acres

An Acre is described as the area of one chain by one furlong, and it is about 4046.86 square meters in size. Visually, it is compared to the size of a standard football field, and in Nigeria, the metric measurement is used in allocating this size of land to developers.

According to estimations, made by land surveyors, an acre is roughly 40% the size of a standard hectare of land and is considered to be six plots of land per acre, i.e. 6 x 60 x 120 ft.

Hectares
Hectare (ha) is a metric measurement of land and is said to be 2.47acres, i.e. in one hectare, you can find about 2.47 acres of land. From a visual perspective, a hectare of land is two and a half times the size of a standard football pitch.

According to professionals, a hectare of land is usually 100m by 100m or 328 ft. By 328 ft. and is mostly acquired by estate developers.

Now you know the different terms used in land measurement, and you can also carefully point out the difference between each measurement unit. Let’s see some factors affecting the variation of land sizes in Nigeria:

Location is one common factor affecting land allotment, since, in some of Nigeria’s localities, the standard measurement size is 50 x 100 ft. In Lagos, the standard land measurement is 60 x 120 ft.
In some states, where the prices of land are incredibly vast, the usual allotment is given but also has a reduction either in length or in width.

Another variation in the allotment, is soil properties, as sometimes land could be eroded, and the previous calculation made in the past will be considered incorrect.

What to do when buying land

So, you now know the different sizes and measurements of land and their variations in different areas. Now here’s a little advice for you, when next you want to get landed properties. First of all, you should be conscious of the size and shape of the parcel you are purchasing, ensuring that you do not get a slant or bent piece, with an irregular shape. Take priority in being present while the measurement is ongoing.

Secondly, ensure that you’re dealing with the right set of owners. In Lagos, there are a group of individuals, the local indigenes of that area, called omo-nile, and they are responsible for land allotments, at most times. These people tend to cause a whole lot of drama, which they’ll probably present. So, a piece of good advice, is for you to either purchase directly from an estate or straight from the source.

Finally, make sure the certificate or deed of ownership is presented to you. While doing so, ensure that the copy given to you is the original copy, signed and stamped by a court, and the seller to you.

CONCLUSION

Land, as mentioned earlier, is a very important factor of production. In Nigeria, the size of lands is measured in Hectares, plots, and acres. Land is also multipurpose, as many instances have proven, so; some common use of land include Processing companies, shopping centres, estate housing facilities, and so on.

Today’s acquisition of land is an investment in the future; the reason for this statement is that land does not have a depreciating factor. I hope you find this guide helpful in your plans of acquiring landed properties, be it hectares, plots or acres



https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

D topic doesn't reflect d content. D topic talks about "documents required for land purchase" but u focused more on explaining how land is measured. D topic is saying one thing& d content something entirely different.

Contact me for hectares of land in osun state @affordable rates. 0. 8.0.6.7.1.5.2.2.4.4

This is educative. Just an observation one hectare of land is compared to a standard football field not one acre



meanwhile if u need help in drafting your business plan, feasibility report, policies and budget preparation as well as opinions on business strategies. contact Ned cellins @ 09039614274 or nedcellins@gmail.com

Now have been properly schooled..thanks op

Sachiopropty:


One unique property of land is that it is everywhere! Of course, you already know this, and I’m sure you would, in one way or the other, have asked how the different sizes of land are measured, dimensions such as Hectares, plots, and Acres. You might have seen some certain advertisements on your television displaying sales of landed property in different areas of the country.

Most of these adverts are something like “Buy landed property at 2 million Naira per square metre” or by a hectare or plot or acre of landed property at a special price. The truth is that everyone uses land, i.e. schools, businesses, churches, houses, hospitals, gas stations, and the likes to use the property. Land is a vital commodity in the market, which brings up the issue of buying space (in the form of tiny plots) in some areas.

This is also a form of land purchase, although the payment for space is usually renewed every year. Now some of the questions you would want to be answered include how large a square metre is? All these questions and many more will be answered here in this article.

How Land Is Measured in Nigeria

Nigeria, a vast country with a population of over 200 million people, is enormous in terms of landmass. In Nigeria, there are two primary means of measurement, to obtain a practical calculation of land size, and these are the metric, which measures in hectares; the imperial, which weighs in Acres.

The system of measurement most indigenes of the locality use in calculating the accurate size of landed property in Lagos is the imperial system of analysis, which are taken in inches, and feet. While the imperial method is acceptable to locals, professionals and other highly educated people prefer the metric system of measurement, i.e. meters, cm, millimetres.

Either way, both are great in measurement, but the only problem involved is the variation due to human or environmental factors. Let’s see some standard units of measurement units used in making accurate land measurements before we go into these problems.

Units of Measurement in Land Sizes Allotment

Plots

In some parts of Nigeria, plots are calculated 50 by 100 ft., while in Lagos, parcels can be calculated in 60 by 120 ft. Although, the standard measurement is 50 by 100 ft., and is known to be standard enough to accommodate a well-built house.

A plot is a name for measurement or allotment of land used primarily for building development or farming. A standard plot measures 648 square meters ( that is 60 x 120 ft )

Acres

An Acre is described as the area of one chain by one furlong, and it is about 4046.86 square meters in size. Visually, it is compared to the size of a standard football field, and in Nigeria, the metric measurement is used in allocating this size of land to developers.

According to estimations, made by land surveyors, an acre is roughly 40% the size of a standard hectare of land and is considered to be six plots of land per acre, i.e. 6 x 60 x 120 ft.

Hectares
Hectare (ha) is a metric measurement of land and is said to be 2.47acres, i.e. in one hectare, you can find about 2.47 acres of land. From a visual perspective, a hectare of land is two and a half times the size of a standard football pitch.

According to professionals, a hectare of land is usually 100m by 100m or 328 ft. By 328 ft. and is mostly acquired by estate developers.

Now you know the different terms used in land measurement, and you can also carefully point out the difference between each measurement unit. Let’s see some factors affecting the variation of land sizes in Nigeria:

Location is one common factor affecting land allotment, since, in some of Nigeria’s localities, the standard measurement size is 50 x 100 ft. In Lagos, the standard land measurement is 60 x 120 ft.
In some states, where the prices of land are incredibly vast, the usual allotment is given but also has a reduction either in length or in width.

Another variation in the allotment, is soil properties, as sometimes land could be eroded, and the previous calculation made in the past will be considered incorrect.

What to do when buying land

So, you now know the different sizes and measurements of land and their variations in different areas. Now here’s a little advice for you, when next you want to get landed properties. First of all, you should be conscious of the size and shape of the parcel you are purchasing, ensuring that you do not get a slant or bent piece, with an irregular shape. Take priority in being present while the measurement is ongoing.

Secondly, ensure that you’re dealing with the right set of owners. In Lagos, there are a group of individuals, the local indigenes of that area, called omo-nile, and they are responsible for land allotments, at most times. These people tend to cause a whole lot of drama, which they’ll probably present. So, a piece of good advice, is for you to either purchase directly from an estate or straight from the source.

Finally, make sure the certificate or deed of ownership is presented to you. While doing so, ensure that the copy given to you is the original copy, signed and stamped by a court, and the seller to you.

CONCLUSION

Land, as mentioned earlier, is a very important factor of production. In Nigeria, the size of lands is measured in Hectares, plots, and acres. Land is also multipurpose, as many instances have proven, so; some common use of land include Processing companies, shopping centres, estate housing facilities, and so on.

Today’s acquisition of land is an investment in the future; the reason for this statement is that land does not have a depreciating factor. I hope you find this guide helpful in your plans of acquiring landed properties, be it hectares, plots or acres



https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

It is quite educative but you need to educate us more as per the topic " DOCUMENTS REQUIRED FOR LANDED PROPERTIES TRANSFER IN NIGERIA "

obembet:
This is why I love Nairaland. You learn everyday. We have many intelligent people here.. Even though we still have pple like buhari that think backwards.

Hate speech

Hotzone:
Car no follow for property including my unborn children and my wife?
Op, for purpose of clarity, amend ur topic

Somewhere in 9ja.....

For goodness sake, there is a reason Lalasticlala and other mods label threads as "Graphic pictures". Stop posting such graphic pictures in other threads!!

Nice thread

We construct Bio digester (Modern Sockaway). Quick to install. No waste removal. Little maintenance. Odorless. Little space required. Doesn't contaminate ground water.

Correct urself OP , hectares isn't 100m by 100m,
If plot is 50ft by 100ft(15m by 30m) and we have 15plots in one hectares, multiply it itself oooo. 15 * (15 by 30m) to have real figure......

Nice one

The headline did not match the content

Nice

bigdot1759:
Correct urself OP , hectares isn't 100m by 100m,
If plot is 50ft by 100ft(15m by 30m) and we have 15plots in one hectares, multiply it itself oooo. 15 * (15 by 30m) to have real figure......

In Lagos it's either 50 by 120 or 60 by 120

In my state,it's 50 by 100

Can I purchase a land that doesn't have a CofO, but has a registered survey??

tot:


For goodness sake, there is a reason Lalasticlala and other mods label threads as "Graphic pictures". Stop posting such graphic pictures in other threads!!

Hypocrite, swear sey u never give hairy 75yrs old and above sugar paddy diçčk when u were 12!?

Faller:
Words of wisdom

Never let any individual truancate the existence of an abnormal malignant and everyone should reconsider undisputed futuristic advancement in case of sexual compatibility and meticulous harassment

ok

Hello guys, I'm a Real Estate Consultant at GText Homes.
We have different lands at our estates for sale, lands are available for sale in Lagos, Abuja, Ibadan and Ogun

Kindly call: 08165120053

OP please what's the difference between C of O and R of O, and which is better to go for ?

Very insightful as I plan building my house very soon

ChineduObinna:
OP please what's the difference between C of O and R of O, and which is better to go for ?

Differences between Right of Occupancy (R of O) and Certificate of Occupancy (C of O

Right of occupancy (R OF O) is just an offer while a (C OF O) certificate of occupancy is certified right of your ownership of the said land.

R of O is a weaker title to land and vulnerable while C of O is a superior title and secured.

R of O could be revoked without compensation while C of O is compensated for. Hence, it's very important to perfect your land title to C of O after an offer of R of O is given to you. That's why most land buyers are very concerned on the title as a C of O always attracts a higher value.

When given an offer of R of O, a premium sum is attached to the offer to be paid for perfection to C of O.
For clarifications, please visit relevant land authorities.

The right of occupancy is usually granted by a Local Government Authority as defined as a customary right of occupancy.

The definition is in Section 6 of the land use Act, a customary right of occupancy includes the right of a person or community lawfully using or occupying land in accordance with customary law and different from certificate of occupancy issued by the State Government as evidence of ownership of land signed by the Governor.

The right of occupancy is in common use in Abuja because of the status of Abuja as municipal. Thus, headed by a mayor not full state where we have state Governor.

By the virtue of FCT ACT of 1976 and the constitution of Nigeria 1999 which confer all lands in the territory to the federal government as a municipal. Thus all the land therein belong to the Federal Government and interest in such land is evidence with a statutory right of occupancy issued by president or minister of FCT as the Mayor of FCT or Certificate of Occupancy issued by such office holders.

Thanks for the information. do you have an idea on how to go about it when buying Lagos Jakande estate from the owners

Sachiopropty:


One unique property of land is that it is everywhere! Of course, you already know this, and I’m sure you would, in one way or the other, have asked how the different sizes of land are measured, dimensions such as Hectares, plots, and Acres. You might have seen some certain advertisements on your television displaying sales of landed property in different areas of the country.

Most of these adverts are something like “Buy landed property at 2 million Naira per square metre” or by a hectare or plot or acre of landed property at a special price. The truth is that everyone uses land, i.e. schools, businesses, churches, houses, hospitals, gas stations, and the likes to use the property. Land is a vital commodity in the market, which brings up the issue of buying space (in the form of tiny plots) in some areas.

This is also a form of land purchase, although the payment for space is usually renewed every year. Now some of the questions you would want to be answered include how large a square metre is? All these questions and many more will be answered here in this article.

How Land Is Measured in Nigeria

Nigeria, a vast country with a population of over 200 million people, is enormous in terms of landmass. In Nigeria, there are two primary means of measurement, to obtain a practical calculation of land size, and these are the metric, which measures in hectares; the imperial, which weighs in Acres.

The system of measurement most indigenes of the locality use in calculating the accurate size of landed property in Lagos is the imperial system of analysis, which are taken in inches, and feet. While the imperial method is acceptable to locals, professionals and other highly educated people prefer the metric system of measurement, i.e. meters, cm, millimetres.

Either way, both are great in measurement, but the only problem involved is the variation due to human or environmental factors. Let’s see some standard units of measurement units used in making accurate land measurements before we go into these problems.

Units of Measurement in Land Sizes Allotment

Plots

In some parts of Nigeria, plots are calculated 50 by 100 ft., while in Lagos, parcels can be calculated in 60 by 120 ft. Although, the standard measurement is 50 by 100 ft., and is known to be standard enough to accommodate a well-built house.

A plot is a name for measurement or allotment of land used primarily for building development or farming. A standard plot measures 648 square meters ( that is 60 x 120 ft )

Acres

An Acre is described as the area of one chain by one furlong, and it is about 4046.86 square meters in size. Visually, it is compared to the size of a standard football field, and in Nigeria, the metric measurement is used in allocating this size of land to developers.

According to estimations, made by land surveyors, an acre is roughly 40% the size of a standard hectare of land and is considered to be six plots of land per acre, i.e. 6 x 60 x 120 ft.

Hectares
Hectare (ha) is a metric measurement of land and is said to be 2.47acres, i.e. in one hectare, you can find about 2.47 acres of land. From a visual perspective, a hectare of land is two and a half times the size of a standard football pitch.

According to professionals, a hectare of land is usually 100m by 100m or 328 ft. By 328 ft. and is mostly acquired by estate developers.

Now you know the different terms used in land measurement, and you can also carefully point out the difference between each measurement unit. Let’s see some factors affecting the variation of land sizes in Nigeria:

Location is one common factor affecting land allotment, since, in some of Nigeria’s localities, the standard measurement size is 50 x 100 ft. In Lagos, the standard land measurement is 60 x 120 ft.
In some states, where the prices of land are incredibly vast, the usual allotment is given but also has a reduction either in length or in width.

Another variation in the allotment, is soil properties, as sometimes land could be eroded, and the previous calculation made in the past will be considered incorrect.

What to do when buying land

So, you now know the different sizes and measurements of land and their variations in different areas. Now here’s a little advice for you, when next you want to get landed properties. First of all, you should be conscious of the size and shape of the parcel you are purchasing, ensuring that you do not get a slant or bent piece, with an irregular shape. Take priority in being present while the measurement is ongoing.

Secondly, ensure that you’re dealing with the right set of owners. In Lagos, there are a group of individuals, the local indigenes of that area, called omo-nile, and they are responsible for land allotments, at most times. These people tend to cause a whole lot of drama, which they’ll probably present. So, a piece of good advice, is for you to either purchase directly from an estate or straight from the source.

Finally, make sure the certificate or deed of ownership is presented to you. While doing so, ensure that the copy given to you is the original copy, signed and stamped by a court, and the seller to you.

CONCLUSION

Land, as mentioned earlier, is a very important factor of production. In Nigeria, the size of lands is measured in Hectares, plots, and acres. Land is also multipurpose, as many instances have proven, so; some common use of land include Processing companies, shopping centres, estate housing facilities, and so on.

Today’s acquisition of land is an investment in the future; the reason for this statement is that land does not have a depreciating factor. I hope you find this guide helpful in your plans of acquiring landed properties, be it hectares, plots or acres



https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

sidonlook:


It is quite educative but you need to educate us more as per the topic " DOCUMENTS REQUIRED FOR LANDED PROPERTIES TRANSFER IN NIGERIA "

One of the first things that anyone interested in buying a property in Nigeria must first know is the right Documents required for property transfer in Nigeria. Having the right knowledge will prove to be a lifesaver as it deems compulsory to have an understanding of what’s required to complete a property transfer process.

The Nigerian real estate market happens to be a huge player in the Nigerian economy today with a lot of investors and entrepreneurs earning mouthwatering passive incomes and returns on a growing scale. However, only a few of these players have thought to learn the necessity of the right documentations in property dealings across Nigeria. According to the West Africa Financial Service Leader, Andrew Nevin, the Nigerian property transfer market, is one of the most important sectors to create jobs and alleviate unemployment. No wonder it has been projected to grow by 3% in 2020.

Property transfer deals with the alienation of interest inland. It involves several distinct procedures under the law, to make it a perfect and legally binding act, on both parties involved. While a lot of investors in the Nigerian Real Estate industry would rather get a lawyer to settle all legal issues involved in their land transfers, only a few wise ones would bother about the process of the land transfer.

Today, the Land Use Act enacted in 1978 under the Obasanjo’s military regime, has been recognized as the principal enactment, which governs the administration and transfer of land and all properties within the Nigerian jurisdiction, to interested parties. This enactment, among other enactments, also recognizes several documents, required, for property transfer in Nigeria.

In the process of property transactions and investment, an investor must pay closer attention to the processes leading to the transfer, rather than only bother about the money spent, as many real estate investors conduct themselves in property transfer in Nigeria. as such, there is a daily hike, in the number of cases in court, arising from real estate deals owing to the poor attention given to it processes by investors. Primarily, an investor, who wishes to enjoy maximum returns, in property transfers, must, therefore, master the various documents needed for property transfers in Nigeria.

Below, we will be paying close attention, to these documents, to better educate and arm the average real estate investor, with the adequate know-how to excel in property transactions.

Deed of Assignment,
Sale of Land Agreement,
Certificate of occupancy,
Right of occupancy,
Power of Attorney,
Deed of Mortgage,
Governors consent,
Tenancy agreement.
DEED OF ASSIGNMENT.
This is a primary document required for property transfer in Nigeria, which evidences the assignment of a property, from the seller of the land (known as the Assignor) to the buyer (known as the Assignee) of the property. This document is important, to show and prove a person’s title to land. This document is also needed to process and obtain a certificate of occupancy recognizing your ownership of the property.

SALE OF LAND AGREEMENT.
This is the document, that precedes a Deed of Assignment. It is needed to legalize an agreement to sell land/property between a buyer and seller of land today. This may be used to loosely prove title to land pending when the owner of the land, finalizes the process of obtaining a Deed of Assignment and is an important instrument in property transactions.

CERTIFICATE OF OCCUPANCY.
This is one of the most valuable land documents in property dealings, in the real estate sector of Nigeria. It is issued by the Governor of a state, where a property is located, to certifies that a person owns of land. This document is given under the land use act 1978, and it gives a landowner a 99 years permit to use land. This document, required for property transfer in Nigeria, is one of the principal documents in proving title to land and should be applied for, by a landowner to perfect his property title.

RIGHT OF OCCUPANCY.
This is a document, which shows that a person has valid legal ownership, which he holds on a particular property, in Nigeria. It is this right of occupancy, that entitles a person to hold a certificate of occupancy in recognition of his ownership of a property.

POWER OF ATTORNEY.
This is a document, which is used to delegate authority by a property owner, to a person who is not the owner of that property, to enable such person, to use the property in a way, that is itemized under the Power of Attorney.

This document is usually used to authorize property agents and managers to deal with a person’s property, in his absence. For example, in Tenancy transactions, a Landlord may give his property agent, a Power of Attorney to deal with that property on his behalf.

DEED OF MORTGAGE.
The Deed of Mortgage is a necessary document required for the transfer of property in Nigeria when a person is transacting a mortgage on his property. Mortgage transactions usually arise when a person borrows money from a bank or financial institution while using his property to guarantee the payment of that debt. This deed is used in the proof of such property, to legalize such transactions, and hold the banks responsible in the case of future conflicts.

GOVERNORS CONSENT.
This is another document required for transfer of property in Nigeria, which a property investor, would always come across, and it must be obtained by a landowner, immediately after he has obtained his certificate of occupancy. This document, as its name suggests, is used to evidence the consent of the governor of a state, to own a property in such a state. This property may be obtained, by simply applying to the lands registry of a state, to receive the consent of the Governor.

TENANCY AGREEMENT.
This is used in the Housing market when a landlord wishes to give his property out in rent to a tenant. A Tenancy Agreement is used to show the validity of this transaction. In the Tenancy Agreement, the Landlord, lets out such a house, for a prescribed time, and rent annually or for such other time, as the tenancy agreement states.

CONCLUSION.

The Housing industry has become a valuable tool, for economic growth and investment portfolio diversification in Nigeria. However, property investors in recent times have expended so many resources and time in settling legal matters in court, arising from failure to include relevant documents required for property transfer in Nigeria, thereby reducing their profit margin. Investors must, therefore, have the right grasps of the above documents, to enjoy maximal returns on their investments, to make the most of property buying and selling, contact Sachio Real Estate Agency.

https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

obonujoker:
Can I purchase a land that doesn't have a CofO, but has a registered survey??

Yes you can however our will still have to go perfect the land

lexy2014:


D topic doesn't reflect d content. D topic talks about "documents required for land purchase" but u focused more on explaining how land is measured. D topic is saying one thing& d content something entirely different.

Yes the link has the original content .




One of the first things that anyone interested in buying a property in Nigeria must first know is the right Documents required for property transfer in Nigeria. Having the right knowledge will prove to be a lifesaver as it deems compulsory to have an understanding of what’s required to complete a property transfer process.

The Nigerian real estate market happens to be a huge player in the Nigerian economy today with a lot of investors and entrepreneurs earning mouthwatering passive incomes and returns on a growing scale. However, only a few of these players have thought to learn the necessity of the right documentations in property dealings across Nigeria. According to the West Africa Financial Service Leader, Andrew Nevin, the Nigerian property transfer market, is one of the most important sectors to create jobs and alleviate unemployment. No wonder it has been projected to grow by 3% in 2020.

Property transfer deals with the alienation of interest inland. It involves several distinct procedures under the law, to make it a perfect and legally binding act, on both parties involved. While a lot of investors in the Nigerian Real Estate industry would rather get a lawyer to settle all legal issues involved in their land transfers, only a few wise ones would bother about the process of the land transfer.

Today, the Land Use Act enacted in 1978 under the Obasanjo’s military regime, has been recognized as the principal enactment, which governs the administration and transfer of land and all properties within the Nigerian jurisdiction, to interested parties. This enactment, among other enactments, also recognizes several documents, required, for property transfer in Nigeria.

In the process of property transactions and investment, an investor must pay closer attention to the processes leading to the transfer, rather than only bother about the money spent, as many real estate investors conduct themselves in property transfer in Nigeria. as such, there is a daily hike, in the number of cases in court, arising from real estate deals owing to the poor attention given to it processes by investors. Primarily, an investor, who wishes to enjoy maximum returns, in property transfers, must, therefore, master the various documents needed for property transfers in Nigeria.

Below, we will be paying close attention, to these documents, to better educate and arm the average real estate investor, with the adequate know-how to excel in property transactions.

Deed of Assignment,
Sale of Land Agreement,
Certificate of occupancy,
Right of occupancy,
Power of Attorney,
Deed of Mortgage,
Governors consent,
Tenancy agreement.

DEED OF ASSIGNMENT.
This is a primary document required for property transfer in Nigeria, which evidences the assignment of a property, from the seller of the land (known as the Assignor) to the buyer (known as the Assignee) of the property. This document is important, to show and prove a person’s title to land. This document is also needed to process and obtain a certificate of occupancy recognizing your ownership of the property.

SALE OF LAND AGREEMENT.

This is the document, that precedes a Deed of Assignment. It is needed to legalize an agreement to sell land/property between a buyer and seller of land today. This may be used to loosely prove title to land pending when the owner of the land, finalizes the process of obtaining a Deed of Assignment and is an important instrument in property transactions.

CERTIFICATE OF OCCUPANCY.

This is one of the most valuable land documents in property dealings, in the real estate sector of Nigeria. It is issued by the Governor of a state, where a property is located, to certifies that a person owns of land. This document is given under the land use act 1978, and it gives a landowner a 99 years permit to use land. This document, required for property transfer in Nigeria, is one of the principal documents in proving title to land and should be applied for, by a landowner to perfect his property title.

RIGHT OF OCCUPANCY.

This is a document, which shows that a person has valid legal ownership, which he holds on a particular property, in Nigeria. It is this right of occupancy, that entitles a person to hold a certificate of occupancy in recognition of his ownership of a property.

POWER OF ATTORNEY.

This is a document, which is used to delegate authority by a property owner, to a person who is not the owner of that property, to enable such person, to use the property in a way, that is itemized under the Power of Attorney.

This document is usually used to authorize property agents and managers to deal with a person’s property, in his absence. For example, in Tenancy transactions, a Landlord may give his property agent, a Power of Attorney to deal with that property on his behalf.

DEED OF MORTGAGE.

The Deed of Mortgage is a necessary document required for the transfer of property in Nigeria when a person is transacting a mortgage on his property. Mortgage transactions usually arise when a person borrows money from a bank or financial institution while using his property to guarantee the payment of that debt. This deed is used in the proof of such property, to legalize such transactions, and hold the banks responsible in the case of future conflicts.

GOVERNORS CONSENT.

This is another document required for transfer of property in Nigeria, which a property investor, would always come across, and it must be obtained by a landowner, immediately after he has obtained his certificate of occupancy. This document, as its name suggests, is used to evidence the consent of the governor of a state, to own a property in such a state. This property may be obtained, by simply applying to the lands registry of a state, to receive the consent of the Governor.

TENANCY AGREEMENT.

This is used in the Housing market when a landlord wishes to give his property out in rent to a tenant. A Tenancy Agreement is used to show the validity of this transaction. In the Tenancy Agreement, the Landlord, lets out such a house, for a prescribed time, and rent annually or for such other time, as the tenancy agreement states.

CONCLUSION.

The Housing industry has become a valuable tool, for economic growth and investment portfolio diversification in Nigeria. However, property investors in recent times have expended so many resources and time in settling legal matters in court, arising from failure to include relevant documents required for property transfer in Nigeria, thereby reducing their profit margin. Investors must, therefore, have the right grasps of the above documents, to enjoy maximal returns on their investments, to make the most of property buying and selling, contact Sachio Real Estate Agency.

https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

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Yes the link has the original content .




One of the first things that anyone interested in buying a property in Nigeria must first know is the right Documents required for property transfer in Nigeria. Having the right knowledge will prove to be a lifesaver as it deems compulsory to have an understanding of what’s required to complete a property transfer process.

The Nigerian real estate market happens to be a huge player in the Nigerian economy today with a lot of investors and entrepreneurs earning mouthwatering passive incomes and returns on a growing scale. However, only a few of these players have thought to learn the necessity of the right documentations in property dealings across Nigeria. According to the West Africa Financial Service Leader, Andrew Nevin, the Nigerian property transfer market, is one of the most important sectors to create jobs and alleviate unemployment. No wonder it has been projected to grow by 3% in 2020.

Property transfer deals with the alienation of interest inland. It involves several distinct procedures under the law, to make it a perfect and legally binding act, on both parties involved. While a lot of investors in the Nigerian Real Estate industry would rather get a lawyer to settle all legal issues involved in their land transfers, only a few wise ones would bother about the process of the land transfer.

Today, the Land Use Act enacted in 1978 under the Obasanjo’s military regime, has been recognized as the principal enactment, which governs the administration and transfer of land and all properties within the Nigerian jurisdiction, to interested parties. This enactment, among other enactments, also recognizes several documents, required, for property transfer in Nigeria.

In the process of property transactions and investment, an investor must pay closer attention to the processes leading to the transfer, rather than only bother about the money spent, as many real estate investors conduct themselves in property transfer in Nigeria. as such, there is a daily hike, in the number of cases in court, arising from real estate deals owing to the poor attention given to it processes by investors. Primarily, an investor, who wishes to enjoy maximum returns, in property transfers, must, therefore, master the various documents needed for property transfers in Nigeria.

Below, we will be paying close attention, to these documents, to better educate and arm the average real estate investor, with the adequate know-how to excel in property transactions.

Deed of Assignment,
Sale of Land Agreement,
Certificate of occupancy,
Right of occupancy,
Power of Attorney,
Deed of Mortgage,
Governors consent,
Tenancy agreement.

DEED OF ASSIGNMENT.
This is a primary document required for property transfer in Nigeria, which evidences the assignment of a property, from the seller of the land (known as the Assignor) to the buyer (known as the Assignee) of the property. This document is important, to show and prove a person’s title to land. This document is also needed to process and obtain a certificate of occupancy recognizing your ownership of the property.

SALE OF LAND AGREEMENT.

This is the document, that precedes a Deed of Assignment. It is needed to legalize an agreement to sell land/property between a buyer and seller of land today. This may be used to loosely prove title to land pending when the owner of the land, finalizes the process of obtaining a Deed of Assignment and is an important instrument in property transactions.

CERTIFICATE OF OCCUPANCY.

This is one of the most valuable land documents in property dealings, in the real estate sector of Nigeria. It is issued by the Governor of a state, where a property is located, to certifies that a person owns of land. This document is given under the land use act 1978, and it gives a landowner a 99 years permit to use land. This document, required for property transfer in Nigeria, is one of the principal documents in proving title to land and should be applied for, by a landowner to perfect his property title.

RIGHT OF OCCUPANCY.

This is a document, which shows that a person has valid legal ownership, which he holds on a particular property, in Nigeria. It is this right of occupancy, that entitles a person to hold a certificate of occupancy in recognition of his ownership of a property.

POWER OF ATTORNEY.

This is a document, which is used to delegate authority by a property owner, to a person who is not the owner of that property, to enable such person, to use the property in a way, that is itemized under the Power of Attorney.

This document is usually used to authorize property agents and managers to deal with a person’s property, in his absence. For example, in Tenancy transactions, a Landlord may give his property agent, a Power of Attorney to deal with that property on his behalf.

DEED OF MORTGAGE.

The Deed of Mortgage is a necessary document required for the transfer of property in Nigeria when a person is transacting a mortgage on his property. Mortgage transactions usually arise when a person borrows money from a bank or financial institution while using his property to guarantee the payment of that debt. This deed is used in the proof of such property, to legalize such transactions, and hold the banks responsible in the case of future conflicts.

GOVERNORS CONSENT.

This is another document required for transfer of property in Nigeria, which a property investor, would always come across, and it must be obtained by a landowner, immediately after he has obtained his certificate of occupancy. This document, as its name suggests, is used to evidence the consent of the governor of a state, to own a property in such a state. This property may be obtained, by simply applying to the lands registry of a state, to receive the consent of the Governor.

TENANCY AGREEMENT.

This is used in the Housing market when a landlord wishes to give his property out in rent to a tenant. A Tenancy Agreement is used to show the validity of this transaction. In the Tenancy Agreement, the Landlord, lets out such a house, for a prescribed time, and rent annually or for such other time, as the tenancy agreement states.

CONCLUSION.

The Housing industry has become a valuable tool, for economic growth and investment portfolio diversification in Nigeria. However, property investors in recent times have expended so many resources and time in settling legal matters in court, arising from failure to include relevant documents required for property transfer in Nigeria, thereby reducing their profit margin. Investors must, therefore, have the right grasps of the above documents, to enjoy maximal returns on their investments, to make the most of property buying and selling, contact Sachio Real Estate Agency.

https://sachiong.com/documents-required-for-property-transfer-in-nigeria/

Much better. Thanks