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Important Land Titles You Need To Understand In Nigeria Before You Purchase Your Next Property, Here’s the Land Titles You Need to Know in Nigeria Before You Purchase Your Next Property.
What is Land Title:
A land title may be defined as the right or ownership claim a person has over a property. It simply means that for you to claim land title, you must show other people the right you have over that land.
Types Of Land Title In Nigeria
- Excision
- Gazette
- Certificate of Occupancy
- Governor consent
- Freehold
1. Excision:
An Excision means taking a part of whole land and that part that has been excised will be recorded and documented in the Official government gazette of that state.
For example: In 1981, Victoria Island, Ikoyi and Lekki were all part of one big, commonly joined together area called Oniru and there had no separation to know which area is called Ikoyi, Lekki or V.I then have an estimated total area of 100,000 square meters, and the government is interested in that area and decides to take 70,000 square meters for its own personal use as an urban area or for public purposes.
2. A Gazette
is an official record book where all special government details are written and recorded.
A Gazette details or shows the number of acres of land retained by the government for public use and the number given to the local communities or real estate company.
Furthermore, A Gazette will show the communities, villages or real estate company that have 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 community, or real estate company is entitled to sell to the public, and they will not go beyond the one that is excised to them.
The Difference Between Excision And Gazette
To excise a land means to cut it. This is the process whereby the Government releases a parcel of land back to the Indigenous owners of such lands for the purpose of residential and commercial developments. When this excised parcel of land is published in the government official gazette and announced in the newspaper, such land is said to have gazette as its title.
Excision and Gazette are very good titles for a piece of land, such lands are safe to buy and develop.
3. 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 explains what the land can be used for, which may be residential, commercial, or mixed development.
The government is mandated to issue the Certificate of Occupancy because all lands in the state are vested in the Governor of the state. This is clearly spelt out in the Land Use Act of 1978.
Benefits of Certificate of Occupancy:
It makes the person named on the document the exclusive owner of the land.
It Prevents a situation where a single Property is claimed by multiple owners
It is an acceptable as a security or collateral for loans from banks and other financial institutions.
It is widely used to resolve land disputes that arise from ownership disputes.
It is a very crucial document during mortgage transactions.
4. Governor’s Consent:
A Governor’s Consent can only be processed on a land with either Gazette or an Existing certificate of Occupancy ( C of O), If a person who has a land with certificate of Occupancy decides to sell his land, the only Documents that can give the new buyer or every subsequent buyer’s the right of occupancy or ownership is the governor’s consent.
5. Freehold:
Freehold can be defined as an Estate or property which is free from hold of any entity, that is it is free from Government Acquisition. Hence, the owner of such Property can enjoy free ownership for life and it can be used for any purposes (whether Commercial or residential).
This kind of land or Property can be transferred through Deed of Assignment.
example of this property can be found in Epe, Lagos State
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