HOW SECURE IS YOUR LAND INVESTMENT?

For many people, their land is their most valuable asset. Land investors need to be aware of the security of their investment and take steps to protect it. This content  discusses common threats to land investments and provides tips on how to safeguard them.

 Let’s talk about Titling.

In Nigeria today a land title is one of if not the most effective ways of protecting a land investment.

A land title can be said to be evidence of a person’s rights to or ownership of land (the deeds or certificate of ownership) or the ownership itself, depending on the context

In property law, a title is an intangible construct representing a bundle of rights in (to) a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership. Conveyance of the document (transfer of title to the property) may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it (for example squatting). In many cases, possession and title may each be transferred independently of the other. For real property, land registration and recording provide public notice of ownership information.

Land transactions in Nigeria generally are guided by the land use act of 1978 which vests control of all lands in the federation to the state governor in a nutshell. 

What this means in effect is that all land transactions done outside the knowledge or consent of the government are done at owners risk. In the eyes of the law for a land transaction to be valid or legal in Nigeria, ownership rights in form of legal documents must be duly registered and issued by the government. 

Hence these government registered titles issued on a first come basis (pending verification of valid purchase documents) are the only irrefutable claim to ownership rights of a landed property in Nigeria.

Some of these government titles are the certificate of occupancy, the governor’s consent, the excision and the gazette.

How secure is your land investment? It is better to invest smart to avoid a waste of hard earned resources. An investor is expected to conduct with due diligence a proper research before any investment is made.

Smart investors are advised to procure a government registered land title to fully secure their investment from any form of encumbrances. It is good to buy a land but it is better to buy a land with a government registered title or to register a government title on your property.  

The Nigerian real estate sector is riddled with so many uncertainties and hassles as a developing economy so investment security cannot be over emphasized.

The extra mile is never crowded. How secure is your land investment? Think land security think land titles.