Before you buy a property in Nigeria, you need to be aware of the type of document issued and its Importance.
1. Certificate of occupancy
It is a certificate issued by the state government officially leasing a piece of Land in the state to the applicants for 99 years because all land belongs to the government.
In the case of government intervention, the landlords will be duly compensated once there is a C of O on the property.
It is an Official record book where all special government details are spelt out, detailed and recorded. A gazette will show the communities that have been granted excision and the number of acres or hectares of land that the government has given to them.
The excise portion of Land can be sold out by the family. A gazette can always replace a C of O and it is safe to buy a land that has been gazetted.
It is a process whereby the government releases a portion of an expanse of land that is not committed.
If the parcel of Land was formerly under acquisition becomes excised, it is then considered free and eventually becomes gazetted.The gazette then becomes the title on the Land and such land is safe to buy because a proper title like C of O can be processed on the land.
Please note that when a property is under excision in progress, it isn't safe to buy, government can still take control of the land.
4. Govenor's Consent
A governor’s consent is given as a replacement to a Certificate of Occupancy.
The certificate of occupancy title can only be granted to just one person and if the person who has a C of O wants to transfer ownership to another person, a governor's consent will be granted to the new owner of the Land or Property instead of another C of O.
5. Survey plan
It is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land.
It determines and delineates boundary locations, building locations, physical features and other items of spatial importance. More than just a diagram of the property. A land survey plan is an important legal document that displays the exact legal borders of the property and applicable aspects of the registered.