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Land Titles In Nigeria

Land Titles in Nigeria: Their Effect on Real Estate Acquisition

Prior to the 1978 passage of the Land Use Act, communal authorities controlled and owned property. They had the power to lend or rent land titles in Nigeria to anybody they chose.

The State government acquired ownership and management of all lands (mainly in metropolitan areas) on behalf of the populace by implementing the edict.

The many land titles that are available are highlighted below, along with an explanation of how they affect ownership.

ARRANGEMENT AND FREE HOLD

An asset becomes a free hold when the government shows no interest in it.

A parcel of land is considered a government purchase when there are plans for industrialization or urban expansion in the area and the government has an interest in the area.

A GLOBAL ACQUISITION OR A COMMITTED ACQUISITION OF LAND TITLES IN NIGERIA

An area of land owned by the government may be the target of either committed or global acquisition. A piece of land that has been committed to acquisition suggests that the government has set it aside for a specific use, making it impossible to ever transfer it to private parties for development projects.

The investments made in those acquisitions will eventually be wasted when the government moves to take complete ownership of a piece of property that is the subject of a committed acquisition.

A block of land under global purchase may not now have a designated government use, but depending on the situation, it could later become free or be committed.

There are two main ways to release land that is up for global acquisition.

First come Excision and Ratification.

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WHY DO PEOPLE EXCISE LAND?

Land excision refers to the release of land to indigenous communities or settlers in line with the law. Since the Land Use Act was implemented, land excision has been used as a means of compensating the original landowners. A grantee who excises a piece of land retains ownership and management of the land within the confines of applicable local laws and regulations.

Cutting a land is referred to as excising it. This is how the government gives a plot of land back to its original inhabitants so they can develop it.

After being published in the government’s official gazette, this excised parcel of land is given the name “Gazette.”

Excellent titles for a piece of property include excision and gazette; these properties are safe to buy and develop since a valid title can be processed on the site.

A MODEL OF LAND EXCITEMENT

Real estate development firms X and Y are offering for sale two different parcels of property in the same location.

While Company X’s land is being sold for 5 million naira, Company Y’s is being purchased for 7.5 million naira. Customers learn about this and hurry to purchase Company X land because of the price difference.

Two years later, Company X notifies its clients that the state government has started the process of excising the land, and that each client must pay 3 million naira to finish the procedure. Many complaints have been made.

Clients of Company Y are free to build there without any restrictions because the area was previously excised. You may read about Nigeria’s land tenure system and federal mortgage loans there.

This reading is suggested: Types of Land Titles in Nigeria

EXCISED LAND REASONS WHY IT CAN BE EXPENSIVE

Excision is a costly and time-consuming procedure. Afterwards, after a landowner and seller have gone through that process, the cost of a parcel of land ttiles in Nigeria would be determined by adding up all the expenses involved.

In accordance with Nigerian law, state governors have authority over the borders of their respective states. However, communities and traditional families were in responsible of administering Nigerian properties prior to the Land Use Act of 1978. Since the Land Use Act was put into effect, state governors have complete control over land and may provide access to prior owners who clearly have ownership rights. You can also learn more about how to invest in real estate and land surveying.

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CONTROL OF EXCISION

Excision on the land might be advantageous, but it takes time and follows stringent guidelines. They include:

1. A request for removal to the land-use allocation commission in your state. Each state has its own committee. Below are the population, the rationale for the excision, and other important information.

2. Further examination by any other entity recognized by your state, such as the technical committee, etc.

3. The assessment of the charting data and the perimeter survey submission to the surveyor general

4. The technical committee visits the property to verify that the details on the excision application letter are accurate.

5. The technical committee ensures that the land’s use is in accordance with the master plan.

6. The technical committee is writing a report for your state’s land-use allocation committee based on its investigation of the property.

7. After evaluating the recommendations from the technical committee, your state’s land-use allocation committee formulates its final conclusions and submits them for the governor’s approval or denial.

8. The property is surveyed after the project has received the state governor’s blessing and acceptance.

9. The state ministry of physical planning and economic development receives a layout design plan for the site that was created by local planners, families, and participants.

10. After that, draft an indemnity contract. When the government and the guarantees agree that the land should be taken, excision occurs. They also unconditionally settle all earlier land claims that were lodged before the accord.

11. The technical committee publishing the excision in your state’s official gazette

12. Appearance in any official widely read newspaper

13. Issuance of a certificate of occupancy to the guarantees no later than 30 days after newspaper publication.

14. Final paperwork, excision reports, and administrative documents are delivered to the State’s land bureau office. The excisions, surveys, maps, names, and gazettes in the Excised Lands Agency would then be formally entered into the archives by the Registrar of Lands.

IMPORTANT INFORMATION ABOUT EXCISED LAND IN NIGERIA

You should be aware of the following regarding excised land titles in Nigeria:

You have complete power over the land within the parameters of state and local laws, but it is expensive to purchase.

3. Has undergone legally recognized procedures.

4. removes any potential worry about losing the land

5. Provides owner with peace of mind, reducing complaints and commotion

6. Possesses no ongoing difficulties.

What Is Land Restructuring?

When a person or business entity purchases land that belongs to the government, land regularization, often referred to as ratification, is completed. Not all public lands, though, are eligible for regularization. Any site that will be regularized needs to be free of designated government areas and adhere to local urban planning regulations.

Purchasing the land “correctly” from the government is required for regularization. It is an expensive process because you still have to pay the government for the land after purchasing it from the “omonile” (seller).

Following regularization, the government releases the property and awards the applicant with a certificate of occupancy (C of O).

It is strongly advised that the status of the land be established before acquisition in order to avoid purchasing government land and paying significantly more money than is necessary. Charting is the process of determining a land’s status. Registered Land Surveyors carry out charting, which is a crucial step in land matters.

What are types of land documents?

CONFIRMATION OF OCCUPANCY – Land Titles In Nigeria

The most common land title that most people are aware of is this one. It’s a fantastic title. It is quite safe to invest in properties that have a Certificate of Occupancy.

The State Government often issues a Certificate of Occupancy, which signifies that the State has formally leased the parcel of property to the applicant for 99 years.

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GOVERNOR’S APPROVAL

In order for the sale of a piece of property with a Certificate of Occupancy to be considered valid in the eyes of the government, the buyer must now get the Governor’s consent. The term “governor’s consent” refers to the governor’s endorsement of a transaction or the transfer of title to real property with a certificate of occupancy from one party to another.

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Registered Assignment Deed

A Deed of Assignment is legal document between the property’s owner and seller and the buyer of the property that certifies the seller has given the buyer all of the seller’s rights, title interests, and ownership.

The land or property is fully and legally transferred to the buyer upon exchange of the deed of assignment and registration of the document at the land registry.

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