₦airaland Forum

. “Business opportunities are like buses, there’s always another one coming.” – Richard Branson

“Play by the rules, but be ferocious.” – Phil Knight

The brand that gave us “Just do it!” qualifies that tagline, which always felt a bit broad, to include boundaries. You can’t “just do it” without regard to the rules, as Knight clearly states. Those rules are what level the playing field and protect fair competition. But rules have nothing to do with the passion in which you play within them.

“The way to get started is to quit talking and begin doing.” – Walt Disney

The more business quotes from these masters of industry and history, the more you notice a common thread knitting them together. They tend to same things only in different ways. That alone should make it clear that actions speak louder than words, to use another old axiom.

Acquisition of land in Nigeria involves various steps and stages which are necessary for both the vendor and purchaser. Before progressing with a sale or purchase of a land, it is advisable one involves a solicitor to guide and ensure that the acquisition smooth and proper.

In this write up, we will summarize the procedure for acquisition of land in Nigeria.

The Procedure for Land Acquisition

1. ENQUIRIES ON THE LAND

This is needed to determine the existence or otherwise of any defects in the land to be purchased. It is also necessary to determine if the land is suitable for habitation, commercial purposes or any other activities depending on the purchaser’s need for the land.

Enquiries made about the land would reveal existing encumbrances, pending disputes and more about the land to be purchased.

The purchaser’s solicitor owes a duty to the purchaser to examine the title of the land, any existing or potential disputes, and the appropriate method of sale of the land.

2. DEDUCING TITLE

The vendor must prove to the purchaser that he has good title to the land he seeks to sell.

Deducing title is just a means of proving to the purchaser that the vendor has title to the land to be sold and also has the right to sell the land.

The vendor’s solicitor must deduce title, and in doing so he must present the purchaser/purchaser’s solicitor with the following documents:

Abstract of title - which is an analysis of all the major transactions if any that has been done on the land.

Epitome of title – which contains a list and particulars of all documents affecting the land as well as the copies of the said documents.

3. CONTRACT OF SALE

To show the interest and willingness of the parties toward the acquisition of land, a formal Contract of Sale of Land must be prepared. This contract may be prepared by vendor or purchaser’s solicitor. But usually, the vendor’s solicitor prepares it.

The purchaser’s solicitor where handed the Contract of Sale of Land prepared by vendor’s solicitor must inspect the same and if satisfied proceeds with a meeting involving all the parties where the following events may take place:

Payment of deposit of the purchase price by the purchaser to the vendor/vendor’s solicitor.

Signing of contract of sale by the parties and their witnesses.

Issuance of purchase receipt by the vendor to the purchaser.

Handling over all information and documents that affect the title to the land by the vendor to the purchaser.

4. INVESTIGATION OF THE TITLE

Investigation of the title is done by the purchaser’s solicitor after the vendor’s solicitor has deduced tittle. This step is very important and necessary as documents presented by the vendor’s solicitor is not the final proof of the title to the land to be acquired.

The steps for carrying out the investigation are as follows:

Collection of the abstract of title and epitome of title from the vendor’s solicitor and examination of the documents.

Search to be done in the following places depending on type of title the land:

Land Registry - compulsory.

Court Registry - if the land has been subject to litigation.

Probate Registry - if it is the land of a deceased person.

Corporate Affairs Commission (CAC) – if it is a company land.

Physical inspection of the land.

Traditional history.

Search report - prepared by the purchaser’s solicitor detailing the outcome of the search conducted on the land.

5. PREPARATION OF THE DEED OF ASSIGNMENT

*After the contract of sale of the land has been exchanged and the investigation to the title of land has been conducted successfully, the next important stage is competition, which involves preparation of a deed of assignment.

The steps for completion include the followings:

The purchaser’s solicitor prepares the deed of assignment and hands them over to the vendor’s solicitor for a review.

Where the vendor’s solicitor agrees with the terms contained in the deed of assignment, he sets up a meeting in his office for the completion of the sale of land.

Balance of the purchase price is paid by the purchaser.

Execution of the deed of assignment by the parties and their witnesses will follow.

The vendor’s solicitor hands over the original copies of all documents, duly registered survey plan, copies of the duly executed Deed of Assignment for perfection and the duly executed Form 1 for the Governor’s Consent.

Once the deed of assignment is executed by the parties, their designation changes from vendor and purchaser to Assignor and Assignee.

6. PERFECTION OF TITLE

This is the final stage to the acquisition of land in Nigeria and it is done to perfect the assignee’s title to the land through the approval of the Governor in line with the Land Use Act.

Essentially, the procedure for the perfection of title includes three major stages to wit:

Governors Consent.

Stamping

Registration

In conclusion, land acquisition in Nigeria requires a lot of attentiveness as purchasing a land does not come at a small cost. Hence a solicitor must exercise due diligence from the enquiry stage down to the perfection stage ensuring that his or her client is informed of the progress of the transaction and give cautions and warnings where necessary.

Culled from lexology

“There are no secrets to success. It is the result of preparation, hard work and learning from failure.” – Colin Powell


Achieving your dream of Home Ownership has come so easy with the launching and introduction this new, fantastic acreage called ZION GARDENS PHASE 2!

Its selling point is in its prime Location, and Title, which makes it free from Government Acquisition and a lovely piece of land to invest in and have peace of mind.

LOCATION: Eleko, Ibeju Lekki, Lagos.

TITLE: Excision (i.e. free from Government Acquisition)

PRICE:

600SQM: N3 million

450SQM: N2.250 million

300SQM: N1.5 million

NEIGBHORHOOD:
– Lekki Free Trade Zone
– Lekki Deep Seaport
– Dangote Refinery
– Lekki Coastal Road (Which leads to or links Victoria Island)
– The New Lekki International Airport

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“There are no secrets to success. It is the result of preparation, hard work and learning from failure.” – Colin Powell

Inspiration is great, but there’s no point in reinventing the wheel. The general is right. Success is being prepared, working hard and learning from mistakes, as many others have also stated. If we can edit the quote a wee bit, we’d add luck to fill out the recipe for success. There’s always an unknown element in the mix.

Call Stella Ayomide on 08139956915 for further offer and professional advice on Real Estate investing.

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired and success achieved.” – Helen Keller

People should take failure as a badge of honor. It’s a crucible that burns things down to their essence and shows us what we’re really made from. If the path to success was clear, then everyone would be one it and success would lose all meaning.

Call Stella Ayomide on 08139956915 for further inquiry on this amazing product/offer and professional advice on Real Estate investing.

Land banks are quasi-governmental entities created by counties or municipalities to effectively manage and repurpose an inventory of underused, abandoned, or foreclosed property. They are often chartered to have powers that enable them to accomplish these goals in ways that existing government agencies can not. While the land bank "model" has gained broad support and has been implemented in a number of cities, they are implemented differently so as to best address both municipal needs and the state and local legal context in which they were created.

History

Land banking originated in the 1920s and 1930s as means of making low-priced land available for housing and ensuring orderly development. The period of deindustrialization in the United States coupled with increased suburbanization in the middle of the 20th century left many American cities with large amounts of vacant and blighted industrial, residential, and commercial property. Beginning in the early 1970s municipalities began to seek solutions to manage decline or spur revitalization in once prosperous city neighborhoods. The first land bank was created in St. Louis in 1971. While additional municipalities continued to adopt them at a trickle it wasn't until the mid 2000s that land banks became viewed as a tested, reliable, and accepted model and experienced widespread implementation – particularly after the success of the Genesee County Land Bank. In 2009 the Department of Housing and Urban Development issued a report embracing land banks as a best practices model for municipalities dealing with the effects of the real estate market collapse of the 2007 financial crisis and the ensuing foreclosure crisis.

Investing is a financial practice that involves putting money in financial schemes, ventures, or assets with an expectation to make a profit on the invested capital. It is arguably impossible to achieve financial security and freedom without investing.

There are thousands of investment opportunities to choose from in today’s world, depending on your level of financial literacy, risk averseness, and budget. These investment vehicles range from low-risk to high-risk investment vehicles. Land banking is among the relatively low-risk investment opportunities with a potential for high returns.

Land banking is one of the oldest real estate investment practices where investors buy small or large quantities of undeveloped land, intending to profit from the resale of the land. Simply put, investors seek out land in underdeveloped neighborhoods and bank it until there’s substantial infrastructural development or population growth in the area before selling it for a higher price or developing it to meet the growing housing demand.

Land banking can be a good bet when running on a low budget. However, as profitable as land banking is, there are some significant challenges and risks that you need to look out for and avoid to ensure the security of your investment.

In most developing countries, a change in government policies can prohibit certain forms of development on the land, which could, in turn, affect the resale value of the land. Likewise, environmental issues like erosion and flooding can significantly depreciate the value of the land if they persist for an extended period. The land may become too damaged to build on, and the cost of repairing the land may be higher than the invested capital and potential profit combined. The land may become completely inhabitable in these cases unless the government intervenes.

In some countries, land banks are constantly threatened by land grabbers who impersonate the original landowners and resell the same land to different people. Such lands may be under litigation for many years, and the cost for hiring lawyers over time might exceed the value of the land itself.

In order to avoid unpleasant situations when investing in a land banking scheme, it is essential to do your due diligence. Consider hiring a lawyer to research and confirm the legality of the land under consideration and ensure that there are legal documents and contracts to back the transaction.

Drylands have a lower risk of flooding.  If you can, limit your investments to drylands unless you are sure that you can afford the cost of repairing and restoring swampy land.
Although land banking has its challenges, the potential value and benefit far outshines the risks and makes it a worthy investment vehicle to consider.
Investors can make huge returns on the value appreciation of the land. Some government projects or policies can lead to rezoning, municipal expansions, rapid infrastructural development, and industrialization, all catalysts for value appreciation and increased demand.

Contrary to popular opinion that real estate demands a high starting capital, land banking schemes generally require a relatively low starting capital. You can start on a low budget and still enjoy good profit on your invested capital.

One of the significant benefits of land banking is its contribution to a positive credit score and the leverage it offers an investor. You can gain access to loan schemes to invest in other investment vehicles or start a venture by using your land as collateral, and at the same time, you can lease out the land pending the time it will appreciate enough to sell off. This is one of the reasons why land banking is a recommendable starting point for young and new investors.

Culled from dradnock dot com

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired and success achieved.” – Helen Keller

“The real test is not whether you avoid this failure, because you won’t. It’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere.” – Barack Obama

. “Wise spending is part of wise investing. And it’s never too late to start.” Rhonda Katz

Call Stella Ayomide on 08139956915for further inquiry on this amazing product/offer and professional advice on Real Estate investing.

Good evening �

Won’t you love to wake-up every morning to the sound of waves, to a romantic view, to a secured, serene and cozy environment?

With the 15% Discount on one off payment and 10% Discount on outright payment you can secure yourself a plot and more,

So get yourself a piece of Heritage WaterFront, Odeomi before the promo ends.

LOCATION:
Mofere, Ode-omi community, ibeju-lekki, Lagos

TITLE:
Survey & Deed of Assignment

PLOT SIZE WITH PRICE:
Waterfront plots
600sqm @ ₦2million

Regular plots
600sqm @N1million
300sqm @N500k

MAJOR LANDMARKS:
• La campagne tropicana
• Dangote jetty
• Dangote Refinery
• Akodo community market
• Free trade zone
• Akodo General Hospital

ESTATE FEATURES:
• Good Drainage
• Good Road Network
• Portable Water
• Good Topography
• Dry Table Land
• Perimeter Fencing
• Gated & Secure Environment
• Good Security and Street Light etc

Call Stella Ayomide on 08139956915 for further inquiry on this amazing product/offer and professional advice on Real Estate investing.

“Far and away the best prize that life offers is the chance to work hard at work worth doing.” – Theodore Roosevelt


Heritage Manor Ibeju-Lekki: It’s no longer news that the best way to secure the future for yourself and your loved ones is through Real Estate, We are here to help you secure that future!

It’s New!
It’s Fresh!
And it’s Affordable!

INTRODUCING – HERITAGE MANOR

This New Estate is located in the safe , developed and habitable environs of Ibeju Lekki, Adjacent the PAN ATLANTIC UNIVERSITY, Lagos Nigeria! The Estate boasts of a great road network, close proximity to the Lekki Epe Expressway, Serene and secured Neighborhood, and many more benefits.

NOTABLE LANDMARKS/PROXIMITY:
❇️Pan Atlantic University
❇️Eleganza Industrial City
❇️Alaaro City
❇️Free Trade Zone…

ESTATE BENEFITS
◻️Perimeter Fencing
�Good Road Network
�Gated and secured environment
�Good Security
�Street lights

PRICE – 4.75M

TOPORGRAPHY- 100% DRY TABLE LAND/SURFACE

PLOT SIZE- 300SQM

TITLE- EXCISION

KEY IN NOW, WHILE OFFER LASTS

Call Stella Ayomide on 08139956915 for further inquiry on this amazing product/offer and professional advice on Real Estate investing.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

The famous story about Edison and the incandescent lightbulb, which took thousands of tries to find a filament that would burn but not extinguish, is proof to the pudding of his statement. You just never know what’s around the corner until you get there.

“Success is often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

If you’re keeping your eyes on what can go wrong, it will go wrong. Successful people strive to move on. They aren’t ignorant of failure, but they’re also not stymied by it. They don’t know what failure is, because to them it’s merely a bump in the road, not its terminus.

“There are no secrets to success. It is the result of preparation, hard work and learning from failure.” – Colin Powell

Inspiration is great, but there’s no point in reinventing the wheel. The general is right. Success is being prepared, working hard and learning from mistakes, as many others have also stated. If we can edit the quote a wee bit, we’d add luck to fill out the recipe for success. There’s always an unknown element in the mix.

“The first one gets the oyster, the second gets the shell.” – Andrew Carnegie

It sounds brutal, and one doesn’t become a steel baron without nerves of steel, but there is a harsh truth in this statement. Resources are exploited by businesses to achieve their goals. They’re not a collective, sharing the wealth, so like the early bird, if you want the worm, then get up early.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

The famous story about Edison and the incandescent lightbulb, which took thousands of tries to find a filament that would burn but not extinguish, is proof to the pudding of his statement. You just never know what’s around the corner until you get there.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison

The famous story about Edison and the incandescent lightbulb, which took thousands of tries to find a filament that would burn but not extinguish, is proof to the pudding of his statement. You just never know what’s around the corner until you get there.

“Every problem is a gift—without problems we would not grow.” – Anthony Robbins

The idea that one can go through life without conflict or issues arising is unrealistic. Some might dream of a frictionless ride through the world as the ideal journey, but without some form of pushback, growth is impossible. It is these problems that we face which build our character, engage our creativity and build humility.

“Success is often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

If you’re keeping your eyes on what can go wrong, it will go wrong. Successful people strive to move on. They aren’t ignorant of failure, but they’re also not stymied by it. They don’t know what failure is, because to them it’s merely a bump in the road, not its terminus.

“The way to get started is to quit talking and begin doing.” – Walt Disney

The more business quotes from these masters of industry and history, the more you notice a common thread knitting them together. They tend to same things only in different ways. That alone should make it clear that actions speak louder than words, to use another old axiom.

"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” ~Franklin D. Roosevelt

.......

“Every problem is a gift—without problems we would not grow.” – Anthony Robbins

The idea that one can go through life without conflict or issues arising is unrealistic. Some might dream of a frictionless ride through the world as the ideal journey, but without some form of pushback, growth is impossible. It is these problems that we face which build our character, engage our creativity and build humility.

....

. “Wise spending is part of wise investing. And it’s never too late to start.” Rhonda Katz

“There are no secrets to success. It is the result of preparation, hard work and learning from failure.” – Colin Powell

Inspiration is great, but there’s no point in reinventing the wheel. The general is right. Success is being prepared, working hard and learning from mistakes, as many others have also stated. If we can edit the quote a wee bit, we’d add luck to fill out the recipe for success. There’s always an unknown element in the mix.