A "MUST-READ" ARTICLE FOR PROSPECTIVE LAND BUYERS

Do not buy land if you are yet to read this piece.

Every state has a master plan for development and all of these developments will be done on land.

If you have read news or heard of the state government destroying buildings, it is because they did not meet up with the appropriate building standards or they were built on committed land.

And that's why knowing the land status of that land you want to buy is very "IMPORTANTER" so as to avoid “STORIES THAT TOUCH”.

Normally, when you want to buy a land you should find out the status of the land. Go to land registry, check the title document on that land. Take the survey and go to a surveyor general’s office and find out if that land is free or committed and safe to invest in.

As one might be propelled by the wonderful and tempting location, fantastic price and desire to own property, there is the need to take all necessary steps and precautions, by investigating the vendor’s title, go for physical inspection of the property and make enquiries in the area the property is situated.

Incase you don't know, an Act named Land Use Act was enacted in 1978, and it says that all lands in a state belongs to the government until deemed free or committed.

Having established that all land belongs to the state government. Hence, the default title of any land within a state is “Global Acquisition” title. However, there are two types and they are the  Committed Acquisition and Global/General acquisition.

Land is said to be committed when the state has indicated interest to use that land for a specific purpose. If you invested your money on a committed land your money is as good as gone.

A global acquisition land is one that can later be declared free via a process called Excision. An excised land is one that has been released by the government to an individual or company. Once land is deemed free from the government, it's free and safe to invest in.

N.B.: Whenever you buy a land, perfecting of Title on it is pertinent, by so doing, you are free from any form of government encumbrance and if the government decides to take the land for a particular project, you are entitled to compensation worth the value of the property.

I hope you found this article helpful. Now you know which lands are safe to buy and which are not. Do put the information to good use and kindly use the comments if you have anything for me.

BECAUSE JUNE IS MY BIRTHDAY MONTH, I HAVE A TITILLATING OFFER FOR YOU!

WANT TO BUY LAND IN LAGOS AND DON’T KNOW HOW TO GO ABOUT IT? BOOK A FREE SESSION WITH ME BY SENDING A MESSAGE TO ridwaneniola@gmail.com or DM/CALL 08103473607, I would be glad to put you through!

The goal is to guide you aright to your land buying success!

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