LAND DOCUMENTS
We spend most of our lives thinking about ways to make money to own a Landed property. Sadly, only few land buyers know and understands what this document really means. most people think C of O is the only land document needed for land purchase and don’t even bother to make researches. Before venturing into any property-related adventure, ensure you have understood and make research about the fundamentals of documentation which is a great investment.
Documentation is a vital process that should be well studied and understood. Land documents means the title commitment, the commitment documents and the survey collectively.
Below is list of documents well explained;
Deed of contract: this is also known as contract of sales. It is a legal agreement for the sale of property in which a buyer takes possession and makes payments directly to the seller, but the seller holds the title until the full payment is made. It is an agreement between the company and client, when a plot of land is being purchased out rightly or on instalment. This document contains
- Development fee: it is the fee that is paid for the development of the land and estate. This fee varies from estate / lands. Any land being sold below 2 million Naira is 150,000 thousand Naira, also any land above 2 million is 250000 thousand Naira.
- Deed of assignment: it is the transfer of ownership from the former owner of the land to the new buyer or from the company to a buyer. Deed of assignment comes with a price.
- Location
- Land size: 650 square metre =1 plot, 6 plot = 1 acres
Deed of Assignment: Deed of assignment is an important legal land document that records a sale of land and transfer of ownership (land) from the organisation to the buyer whereby the buyer has full ownership. Deed of assignment is used when the owner wants to transfer to another person. It is the first document given to a client. Every land has deed of assignment .it comes with a price.
Survey plan: survey plan shows the boundary measurements of a parcel of land to give an accurate measurement and description of that land.it is with a survey plan that you will be able to know everything about the land. A survey plan helps you to know if the land is for agricultural, residential, industrial or a commercial purpose.
Things to look out for in a survey plan
- The name of the owner of the land surveyed
- The address of the land surveyed
- The size of the land surveyed
- The drawn-out portion of the land survey and mapped out on the survey plan document
- The beacon numbers
- A stamp showing the land is either free from government acquisition or not.
We have two types of survey plan
- Ordinary survey plan: it comes in blue colour.
- Registered survey: it comes in red colour.
Excision: is a land title; an excise portion of a land given to a family to excise on. it can be hectares, acres that is free from government acquisition. An excised land is a land that has been released by the government to the indigenes of the area who originally owned the land before the government acquires it.
Two things to know about excisions:
- The fact that a file number has been given at the ministry does not mean that the excision has been granted. this means that if the government does not grant the excision, you get no land.
- In an excision application, the total area of land applied for is not always granted.
Gazette: gazette is a file number or record book that indicate the excise portion of the land (excision). It is an agricultural land required for resettlement purposes.
Certificate of occupancy: is a document issued by a local government agency certifying a building's compliance with applicable building codes and other laws, and indicating it to be in a condition for occupancy. Certificate of occupancy expires after 99 years.
Governor consent: governor’s consent is a land title that is actually free from the government and only the governor has the final authority. It shows that the land once has certificate of occupancy.it is as powerful as certificate of occupancy.
Free hold: free hold is a land title that is free from government. and also, the government does not have any ownership to that land. Freehold is the permanent and absolute ownership of property or land. If you own the freehold, it means that you own the building and the land it stands on.
Register survey: it is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. it talks about the dimension of the land. Hectares, plots and acres i.e. the size of the land. it can be measured in the square metres or foot
Agricultural zone: it indicates a that a land is meant for agricultural purpose. example, farming, animal husbandry, poultry etc.
Certificate of ratification: Ratification means giving formal consent to a contract or agreement thereby making it validly official.
Right of occupancy: This is the most important land document used to certify the legal and ownership status of any land in Nigeria irrespective of its usage. It is a legal document indicating that the person or persons whose name(s) appear on the document has been granted a statutory right of occupancy by the governor of the state where the land situates.
It simply means the holder of a Certificate of Occupancy has a right to occupy that land under the law. A certificate of occupancy can either be for residential, commercial or agricultural purpose. It is usually granted for a fixed term of 99 years and 25 years for agricultural lands
Deed of contract: this is also known as contract of sales. It is a legal agreement for the sale of property in which a buyer takes possession and makes payments directly to the seller, but the seller holds the title until the full payment is made. It is an agreement between the company and client, when a plot of land is being purchased out rightly or on instalment. This document contains
- Development fee: it is the fee that is paid for the development of the land and estate. This fee varies from estate / lands. Any land being sold below 2 million Naira is 150,000 thousand Naira, also any land above 2 million is 250000 thousand Naira.
- Deed of assignment: it is the transfer of ownership from the former owner of the land to the new buyer or from the company to a buyer. Deed of assignment comes with a price.
- Location
- Land size: 650 square metre =1 plot, 6 plot = 1 acres
Deed of Assignment: Deed of assignment is an important legal land document that records a sale of land and transfer of ownership (land) from the organisation to the buyer whereby the buyer has full ownership. Deed of assignment is used when the owner wants to transfer to another person. It is the first document given to a client. Every land has deed of assignment .it comes with a price.
Survey plan: survey plan shows the boundary measurements of a parcel of land to give an accurate measurement and description of that land.it is with a survey plan that you will be able to know everything about the land. A survey plan helps you to know if the land is for agricultural, residential, industrial or a commercial purpose.
Things to look out for in a survey plan
- The name of the owner of the land surveyed
- The address of the land surveyed
- The size of the land surveyed
- The drawn-out portion of the land survey and mapped out on the survey plan document
- The beacon numbers
- A stamp showing the land is either free from government acquisition or not.
We have two types of survey plan
- Ordinary survey plan: it comes in blue colour.
- Registered survey: it comes in red colour.
Excision: is a land title; an excise portion of a land given to a family to excise on. it can be hectares, acres that is free from government acquisition. An excised land is a land that has been released by the government to the indigenes of the area who originally owned the land before the government acquires it.
Two things to know about excisions:
- The fact that a file number has been given at the ministry does not mean that the excision has been granted. this means that if the government does not grant the excision, you get no land.
- In an excision application, the total area of land applied for is not always granted.
Gazette: gazette is a file number or record book that indicate the excise portion of the land (excision). It is an agricultural land required for resettlement purposes.
Certificate of occupancy: is a document issued by a local government agency certifying a building's compliance with applicable building codes and other laws, and indicating it to be in a condition for occupancy. Certificate of occupancy expires after 99 years.
Governor consent: governor’s consent is a land title that is actually free from the government and only the governor has the final authority. It shows that the land once has certificate of occupancy.it is as powerful as certificate of occupancy.
Free hold: free hold is a land title that is free from government. and also, the government does not have any ownership to that land. Freehold is the permanent and absolute ownership of property or land. If you own the freehold, it means that you own the building and the land it stands on.
Register survey: it is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. it talks about the dimension of the land. Hectares, plots and acres i.e. the size of the land. it can be measured in the square metres or foot
Agricultural zone: it indicates a that a land is meant for agricultural purpose. example, farming, animal husbandry, poultry etc.
Certificate of ratification: Ratification means giving formal consent to a contract or agreement thereby making it validly official.
Right of occupancy: This is the most important land document used to certify the legal and ownership status of any land in Nigeria irrespective of its usage. It is a legal document indicating that the person or persons whose name(s) appear on the document has been granted a statutory right of occupancy by the governor of the state where the land situates.
It simply means the holder of a Certificate of Occupancy has a right to occupy that land under the law. A certificate of occupancy can either be for residential, commercial or agricultural purpose. It is usually granted for a fixed term of 99 years and 25 years for agricultural lands
