Land Title Document You Must Know Before You Purchase Any Land In Nigeria.
Land Title documents are very important and anyone who wants to invest in Landed Property should be well informed about Land title documents and the difference between each one.
Most people think the certificate of occupancy (C of O) is the only Land title document that is required when purchasing a Land. But this is not so. Apart from the C of O, There are other Land Document you must ask for before you purchase any Land.
Survey Plan: This is the Land document that gives an accurate boundary measurement and description of a Land. A survey plan is one of the most important Land documents you’ll need before purchasing Land because it helps you to know if it is for Agricultural, Residential, or a Commercial to purpose and to also decipher whether the Land is committed either to another person or the government (In order to avoid encroachment). Also ensure to hire the professional services of a surveyor for an accurate description.
Excision: Due to the proclamation of the Land Use Act on the 28th of March 1978 which vested all Lands in every State of the Federation under the control of State Governors. It is important to request for an excision over the Land you want to Purchase, If not, the Land could be seized by the government anytime without compensating you even if it was purchased from the Traditional Ruler of that Land.
Gazette: A Gazette is an official record book where all special details about Lands are recorded and spelt out. A gazette will reflect the communities or village that have been granted excision. And the number of acres of Land the government has given to them. A gazette can replace a Certificate of Occupancy to grant title to the indigenes of its Community.
Certificate of Occupancy: A Certificate of occupancy is a Land Title document issued by the State Government to officially lease any Land under the State to the applicant for 99 years. A C of O is the officially recognized Land Document for demonstrating your Ownership Rights to a Land for 99 years.
Deed of Assignment: A deed of assignment is also one of the most important documents you must have when concluding a Land transaction. It is an agreement between the seller and buyer of the Land that states that the Ownership Rights Have been transferred to the Buyer.
Receipt: Land Transactions receipt is a proof of payment process between the Buyer and the Seller.