Land Acquisition and Documentation

Land Acquisition and Documentation

 Land Acquisition and Documentation

Buy wisely when in vesting in a landed property

According to the dictionary meaning of a plot: 

A plot is a marked out piece of Land for the purpose of building or farming. 

The word 'plot' is an arbitrary term used to describe a land division carved out for property development.

The size of a plot can vary for different reasons but according to Nigeria's land division, the appropriate plot for a house construction is 50 x 100ft which can accommodate a standard house with a small compound. 

To better understand land divisions used in Nigeria, different units of area are used as follows:
HECTARE
An hectare is one of the least known metric units and one which potential buyers and Estate developers seem to struggle with - 

It is a land measuring:

  • 100m x 100m OR 
  • 328ft x 328ft OR 
  • 10,000 sqm OR
  • Two and half acres OR 
  • 15 plots

2. ACRE
An Acre is a standard unit of measurement used by Land sellers and it is almost equivalent to the size of a standard football field. 

An Acre is a product of any rectangular plot of land giving a total of:

  • 4,046sqm OR 
  • 43,560 sq ft OR 
  • 6 plots (each measuring 60ft x 120ft)

3. PLOT

In Lagos State, the standard size of a plot is 60ft x 120ft (18m x 36m i.e. 648 sqm), while in some other cities of the country, plots are measured in 50ft x 100ft.
A Deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to that the Seller that has just bought land

2. DEED OF ASSIGNMENT
A Deed of Assignment therefore is an Agreement where an assignor states his promise that from the date of the assignment or any date stipulated therein, the assignor assigns his ownership in that Land to the assignee. 

The deed contains very pertinent information for a real estate transaction. For one, it spells out the date when the ownership of the property transfers from one owner to the other. 

The deed also gives a specific description of the property that is included in the transfer of ownership.
A deed of Assignment is one of the most important documents YOU MUST HAVE when you conclude a Land Transaction. 

In fact it baffles me that 6 out of 10 people who have bought lands in the past have no deed of assignment. They are always the first to complain that Omonile has defrauded them but they have no proof to show the property has been sold to them other than a receipt.
 We note the assignor/assignee aspect of land buying here.

These are important legal terms.
In most situations, when the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction.

The Deed of Assignment spells out the key issues in the transaction between the Seller and the Buyer so that there won’t be any confusion or assumption after the property has been transferred to the new owner.

Land Use Decree on the 28th of March, 1978 that vested all lands in every state of the Federation under the control of the State Governors. 

The Land Use Act coupled with other laws made it possible for the Governor who was now the owner of all lands in the state to actually have the power to Acquire more lands compulsorily for its own public purpose to provide amenities for the greater good of the citizens.

: 3. EXCISION
It’s funny that everyone has the title documents to their car showing who the seller is and how it was transferred from the Seller of that car to you the new owner but when it comes to landed properties which are 10 times more valuable than cars, we fail to ask for this one simple important document that can prove ownership of that land.
Fortunately, the government recognizes that indigenes of different sections of the country have a right to existence . . . 

A right to the land of their birth. Hence, it is customary for state government to cede a portion of land to the original owners (natives) of each area.
An Excision means basically taking a part from a whole and that part that has been excised ( given out by the government for free use) will be recorded and documented in the official government gazette of that state. 

In other words, not having an excision means the land could be seized by the Government anytime without compensating you even if you bought it “Legitimately” from the Baale or the Original dwellers on the land...

: An excision process is not complete until same is gazetted. Hence, after an excision is given, the excision is then gazetted. The title at that stage is often called "Gazette".

4. GAZETTE
A Gazette is an Official record book where all special government details are spelt out, detailed and recorded
A Gazette is a very powerful instrument the community owns and can replace a Certificate of Occupancy to grant title to the Villagers. 

A community owning a gazette can only sell lands to an individual within those lands that have been excised to them and the community or family head of that land has the right to sign your documents for you if you purchase lands within those excised acres or hectares of land.

A gazette will show the communities or villages that have been 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 is entitled to sell its lands to the public and not anything outside those hectares of land given or excised to them
A Deed of Assignment usually have a paragraph called Recital. It normally states the root of inheritance of title to the first pocessor
If the government based on some reasons best known to them decides to revoke or acquire your land, you will be entitled to compensation as long as it’s within the Excised lands given to that community.

The best way to know whether a land is under acquisition or has an excision that has been covered by a Gazette is to get a surveyor to chart the site and take it to the surveyor general’s office to do a land information to confirm whether it falls within the gazette and spell out which particular location it can be found.
A gazette is simply a publication made by the government that so and so land on so so location has been excised


With a gazette the process of getting the C of O on the excised land can start.
Lastly

5. CERTIFICATE OF OCCUPANCY
: A Certificate of Occupancy (C of O) issued by the Lagos State Government officially leases Lagos land to you, the applicant, for 99 yrs. 

As already indicated above, all lands belong to the Government.
A C of O however is the officially recognized Document for demonstrating Right to a Land.

What happens after 99 years? 

That question is still subject of debate among experts. 

Most have adopted a wait-and-see attitude. 

Others postulate that as the new owner of the land, you the buyer, can renew the certificate of occupancy when it expires. 

That makes sense, but for now is largely a case of “We shall see when we get there”.

Global C of O applies to a large expanse of land. Why an individual C of O applies to just a plot of land or few plots. 

Buying a land with a Global C of O does not in anyway affect negatively but the buyer can do a governor's consent to have his/her name on his own plots. 

Because the buyer can't do another C of O. A land can't have 2 C of O. All you have to do as a buyer is to do a governor's consent.
 

Posted in Business | Date:July 22nd , 2020 | Comments: 0| Views: 859

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