KNOW AND UNDERSTAND YOUR LAND DOCUMENTS

KNOW AND UNDERSTAND YOUR LAND DOCUMENTS

Buying a land without a title in Lagos state or any other state is a 50/50 polka game. A land that’s not registered at the land office can’t be searched, so you need to be extra careful when buying such.

All the land in each of the 36 states in Nigeria are under the control of the state government and that’s where the word “GLOBAL ACQUISITION” comes in.

Generally, the land is either classified as “COMMITTED or “FREE”. Global acquisition can further be classified into 2 (two) categories:

1.          Global/ General Acquisition

2.          Committed Acquisition

GLOBAL/ GENERAL ACQUISITION

Land under this class can’t be said to be free or committed but in the future, the Government can decide if it’s going to be free or otherwise.

I’m sure you must have heard the term “excision in process” when trying to buy land in Ibeju-Lekki area or any other part of the country. Any land under this category, a buyer can file for excision and later get a C/O in the future but mind you most times the state Government can decide not to release the land. And that’s why I advise my clients not to invest in such because at the end of the day it’s a 50/50 chance.

So, that brings me back to the term “excision in process”; it simply means the said land has been filed for excision in the respective state land office, but the government hasn’t decided yet whether the land will be free or not.

What most real estate companies do is that once excision is denied they relocate investors to other parcels of land, that’s why I would advise you not to start building until the land you intend to buy or owned has been excised just to be on a safer side.

It is better to wait before you start building on such lands than see your hard-earned money turn into a pile of rubles!

COMMITTED ACQUISITION

A piece of land is said to be committed when the Government has indicated interest in such land for future use. Once you’ve carried out a search on any piece of land you may want to invest your money on, and the result says “committed” forget about the land and move on to another.

Don’t let any real estate agent deceive you oh! They will say “Oga/Madam just buy am, nothing go happen” it’s a Big fat lie. Just run from such.

EXCISION

This is a process whereby a parcel of land which was formally under acquisition becomes excised (not a committed land), we can then say such is free from Government acquisition. A land with excision can easily be gazetted. I’ll give a 100% purchase ok for such lands.

GAZETTE

A gazette is a journal where the government keeps well-detailed records of lands. It will show the village or community which have been granted excision and the size of land allocated to them during the excision. With the Gazette you’ll be able to get the names of the right family members/head of the family who are meant to sign your deed of assignment.

CERTIFICATE OF OCCUPANCY

A Certificate of Occupancy, also known as the C of O is a document issued by state governments in Nigeria to landowners and property buyers as a legitimate proof of ownership. This document also spells out what the land can be used for; residential, commercial or mixed development.

Once a landed property has gazette/excision you can go ahead to apply for a C of O.

The government is constitutionally mandated to issue the Certificate of Occupancy because all lands in the state are vested in the Governor of the State. This is clearly spelled out in the Land Use Act 1978.

In 2015, the Lagos State Governor, Akinwunmi Ambode approved the release of Electronic Certificates of Occupancy and it has since been officially adopted. Now an interesting thing about this new Electronic C of O is that it is now done in the form of a contract. It now has a transaction page that will list all the transactions and cumbrances that have taken place on the land in question and will be inside the body of the C of O.

This new electronic C of O makes it impossible to anyone to forge.

A SAMPLE OF THE NEW ELECTRONIC CERTIFICATE OF OCCUPANCY

GOVERNOR’S CONSENT

Defining/explaining Governor's consent can sometimes be cumbersome. Let me give it a try!

You see C/O can only be given to an individual/body on a parcel of land, once you buy land with C/O you can't change the name on the C/O. What you can only do is apply for a Governor’s Consent.

In other words, the first person on a land is the only person or group of persons entitled to obtain a Certificate of Occupancy. Every subsequent buyer of that land must get a Governor's Consent. There can only be one (1) Owner of the Certificate of Occupancy on that Land and it will not be replicated for another person once the land has been sold or transferred to another person.

So consent supersedes C/O. 

When you want to buy a property using a mortgage facility, any property with Governor’s is the most acceptable and as well most likely to be approved for purchase. You can get more info on the importance and how to obtain a Governor’s consent here http://bit.ly/governorsconsent
Real estate, wealth that grows. Financial safety net.

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