The major assets in Nigeria is Land. Real Estate is a great asset that has made many people a millionaire and billionaire in Nigeria. Buying of land in Nigeria is good but having deeper understanding about land documents is very important most especially in Lagos.
Land documents can be referred to the legal and verified record that shows evidence that you owned the property. Before buying any land, kindly ensure you have all the paperwork (documents) for the property.
I will be sharing with you the land document that we have in Nigeria and their categories as well. You need to understand where these land documents fall under.
10 TYPES OF LAND DOCUMENTS IN NIGERIA
The most land documents popularly known in Nigeria are as follows:
1. Deed of Assignment:
This is the legal transfer of the property between the owner and the buyer and please ensure this document is duly signed.
2. Grant of Probate:
This document is for those who will their land for their children. The document serves as a claim for the children to claim it. It is a will document written by the parent to their children.
3. Certificate of Occupancy (C of O)
This is the most popular and well-recognized land document in Nigeria. This document shows that you have the right to own the land.
Other states like Abuja often called it, the Right of Occupancy (ROC). These documents last for 99 years and note it is expensive to get a C of O land most especially in Lagos because it runs in millions.
ATTENTION: If you want to get a C of O property in Lagos in a good and strategic location, please send a message below.
4. Excision
There are some places in Lagos whose land title document is Excision. Excision is when the State Government releases some portion of land to the community. This means that the land is not under acquisition by the Government.
READ THIS: 10 TYPES OF LAND ZONING IN LAGOS
5. Gazette:
A gazette is a land document that states the legal record of an excise land by the Government. It is usually an official document by the Government of the excise land.
The difference between Excision and Gazette is that Excision is the portion of land that the Government hands over or give to the community or indigenes of the state and while the Gazette is the official record of that excision. The government records it that, the land has been given out.
6. Survey Plan:
A survey plan is a document that reads and provides all the information of the square meter of the land you bought. It carves out your portion of the whole land or estate. It also provide the name of the owner and other details about the owner as well.
7. Court Judgement:
This is also a land document in Nigeria. This is a court case between two or more people on a certain piece of land. The supreme court has the final sake on this.
By all means, avoid a land having a court of judgment. To avoid this, you must do due diligence on your property.
READ THIS: 5 REASONS WHY GOVERNMENT DEMOLISH HOUSES
8. Governor’s Consent:
As the name implies, the Governor’s consent means that the Governor is aware of the land document. This is the land document you get when buying a C of O from the direct owner.
You can only have one C of O but you can have multiple Governor consent as land document.
9. Receipt:
As simple as this is, you need it when you buy any property in Nigeria. Ensure the seller provides a receipt for you. The receipt is evidence of payment.
10. Contract of Sales:
A contract of sale is the agreement and a signed document between a buyer and seller. As a buyer, please ensure you take your time to read through the contract of sale before signing it to avoid stories that touch in the future.
CATEGORIES OF LAND DOCUMENTS IN NIGERIA
There are 3 Categories of the above land document listed because not all of them are titled land and they are:
1. TRANSACTION DOCUMENTS:
The transactional land document includes the receipt, deed of assignment, and contract of sales
2. LAND DOCUMENTS:
The Land Documents include the survey plan, court judgment, and grant of probate.
3. TITLED DOCUMENTS:
The titled documents include the C of O, Excision, Gazette, and Governor’s Consent
In conclusion, some of the land documents are transactional documents, land documents, and titled documents. What you look out for when buying land is the title it has.
READ THIS: 12 REQUIREMENTS FOR BUILDING APPROVALS IN LAGOS
The survey and deed of the assignment are not titled land, they are transactional documents and land documents you received.
For further information on real estate and property investment in Lagos, Ibadan, Abuja, and some part of the East, please call or WhatsApp Peter at +234 901 509 4850 or click on the WhatsApp button on your screen.
