Deji Real Properties Enterprise

IMPORTANT LEGAL QUESTIONS A LAND BUYER MUST ASK

Property & Real Estate Law in Nigeria play a vital role on rules regulating human habitation, commercial, residential leases & development and business since land or property is one of the most important factors of production and the effects on people and businesses are enormous in real estate and property sector of Nigeria economy.

The law that primarily govern Land purchase in Nigeria are Statutes, Common Law, Case Law, Customary Law and Land use Act of 1978, with other amended laws in each State of Nigeria.

IMPORTANT LEGAL QUESTIONS A LAND BUYER MUST ASK

Lagos Property

Physical inspection of the land or property by a representative or buyer.
Request for all legal & title documents in respect of the land showing the names of:
The Seller
For company- at least two Directors & signatures
Trustees – at least three persons and their signatures
State & Federal Government

The buyer must ask questions on whether there is any litigation on the land or property.
Request for Court Registered WILL or Letter of Administration/Probate Documents in respect of an inherited land.
For Family Properties – Legal Documents showing the source of title of the Family land and the Deed must be signed by Head of the Family and Principal members of the Family accredited to sign.

For State and Federal Government Land:
Copy of Deed of Sublease between the State or Federal Government
Letter of Allocation
Evidence of full payment of the Allotee Land price paid to the Government
Land Purchase Receipt

For Lekki & Epe Areas, most of the Land in this area are acquired by the State Government and released by the State Government by way of legal title given to the family called Land Excision and which are usually Gazetted. it is an equivalent of Certificate of Occupancy to the family.

The buyer of Lekki Land or Property must ask for a copy of Excision already Gazetted by Lagos State Government the Survey Plan of the Land must be Charted by the Surveyor at Survey Department to determine whether it is an Acquired Government Land not good for purchase or not.
Copy of source of the title of Seller.
Evidence of documents of the family on the land.
Copy of Consent from Lagos State Government.
Land Purchase Receipt

After being satisfied with all the questions and demands above, the Attorney can go ahead to conduct a legal search on the property.

The conduct of search at the Land Registry must include:
Particulars of the property
Date of search
Place of search
Name of the owner
Nature of the interest or whether there is a mortgage or liability on it
Result of the Search whether there is an Encumbrance (meaning problem or negative legal interest) on the land or not.
Comment and opinion of a lawyer on the search report whether the land is good to buy or not.
If the Attorney is satisfied with the result of the land title investigation, he will accordingly give a legal advice to the buyer to purchase the land or property or not.

The next step will be for the buyer to instruct a Licensed Land Surveyor to prepare a Survey Plan for the property in the name of the new buyer.

Note, the registered Survey Plan must show (a) Location and address (b) Size of the land in Square Meters, (c) Shape of the land and all the registered Beacons numbers on the Survey with Surveyor’s General Signature and Record copy duly lodged at Surveyor’s General office either in State or Federal Level.

The Solicitor will use the new Survey to prepare one of the following: Contract of Sale, Deed of Sub-lease, or Deed of Mortgage and Deed of Assignment which are different types of evidence of transfer of legal ownership to the new buyer.

Deed of Assignment to be prepared by the Lawyer must contain the following particulars of information:
Names, Occupation and Address of Parties usually referred to Assignor (seller) and Assignee (buyer)
Names and Occupation and Addresses of the Witnesses
Description of the Property
Capacity of the Vendor/Assignor
Consideration i.e. price of the Land
Quantum of interest to be transferred
Covenants or terms of the contract of sale

EX*****ON OF AGREEMENT (signing of agreement)

All Parties and Witnesses named in the Agreement must sign. Note, the Assignee (buyer) will hand over the purchase price either in exchange of bank draft or transfer which must be done simultaneously on the same day of signing of the documents

Delivery of Possession or handing-over of the property to the buyer.
The Assignor will hand-over all the original documents to the Assignee upon confirmation of payment.

In Lagos, for areas like Ikoyi, Apapa, festac Town & Environs, part of Victoria Island, Gowon Estate, Abesan Estate, Ojodu and other Federal lands in Lagos the usual documents are Federal or State Registered Conveyance before 1978 or Certificate of Occupancy after 1978 which is the same thing as Right of Occupancy.
If there is an existing Certificate of Occupancy, the document you are going to receive after registration with the Federal or State Government on the signed Deed of Agreement is called Governor’s Consent for State Land; and Minister of Works & Housing Consent for Federal Land which is also known as Certificate Of Occupancy.
IKEJA pROPERTY & other areaS of lagos

All of the above are applicable for Ikeja as well. There is no Gazetted and Excision Land in Ikeja; it must be a Registered Conveyance, Certificate of Occupancy, Deed of Agreement and Purchase Receipt with other relevant documents.

LEKKI LAND or PROPERTY

The same requirements for Ikeja & other areas of Lagos also applicable. The only difference is that Lekki is the only place where you have Gazetted and Excision Lands.

Gazette: Meaning publication of land released to Customary Family Land Owners.

Excision: The titled document given to Customary land owners after released of their formerly acquired land by the Government.

Power of attorney: Is the legal power you give to somebody to act on your behalf in official capacity.

NOTE: A lawyer must be involved in all the transaction on the property to guide and protect you.

HOW TO LAWFULLY REGISTER YOUR LAND OR PROPERTY DOCUMENT

For Real estate law in Nigeria and Lagos in particular, in order to legally register your land or property as prescribed by law, the following processes and document are required to have a lawful land title in respect for the following documents:

Certificate of Occupancy (+ Right of Occupancy)

Deed Of Assignment (or Deed of Lease, Deed Of Sublease, or Deed of Mortgage)

Gazette (with a Record of Excision)

Governor’s Consent Document

Power of Attorney

Required Documents to Process all the Above

If there is an existing Certificate of Occupancy, the document to be given to you after registration is called (Governor’s Consent). However, if there was no existing Certificate of Occupancy, you can apply for one.

The Following Documents Will Be Required to Register a New Purchased Land from Federal or State Governments

The Solicitor will officially apply for Governor’s Consent Registration

4 copies of Assignor and Assignee signed Deed of Agreement of the purchased land.

2 passport photographs of the Assignee

4 copies of registered Survey Plan

Sketch map of the location, picture of the actual land site.

Current Tax Clearance of the Assignor

Tax Clearance of the Assignee and Assignors

Lagos State or Federal government statutory Charges and Fees

Professional Fee of the Attorney

Other Statutory Procedures

In conclusion, since there is no area of law practice in Nigeria that is frequently more litigated or involved disputes, and going by the recent research of cases in Courts relating to land or property around the country, and particularly in a place like commercial city of Lagos with 22 million population, therefore, it is legally advisable for clients to consult the best lawyers or leading law firm in Lagos & Nigeria for proper legal guidance in order to avoid disputes in respect of purchase of land and Property in Nigeria.

In other words, it is pertinent that the client must have a perfect & lawful title to guarantee one’s peace of mind, good tenancy and secured real Estate Asset to raise loan for business or other clients best interest relating to real estate & properties in Nigeria.
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IRE BY PERTINENCE

Outright Payment or Installments as You Desire.

PAYMENT PLAN 300(SQM) 450(SQM) 600(SQM) 600(SQM, COMMERCIAL)
OUTRIGHT 3.5M 5.25M 7M 15M
3MONTHS 3.75M 5.626M 7.5M 15M
6MONTHS 4.25M 6.375M 8.5M 17.5M
12MONTHS 5M 7.5M 10M 20M

IRE, MOWE, OGUN STATE is our new Estate which is 7minutes away from the Lagos-Ibadan expressway.
Ire means comfort, security, and it means goodness.

LANDMARK/NEIGHBORHOOD:
Bluestone Garden City Estate
Redemption Camp
Redeemers University
MFM Camp
Leadavenue Estate
Milliard Court

TITLE: Global C of O

GUARANTEED BENEFITS: Well Secured Gated House, Excellent Master Plan Layout, Immediate Allocation, Quick Return on Investment, Recreational Facilities, Good and Accessible Road, Perfect Documentation.

PAYMENT PLAN
Outright (Onetime payment)
3 months
6 months
12 months

DEVELOPMENT AND DOCUMENTATION FEE –NGN2.5M

For more information contact Ayodeji through this telephone number 09030176635, Either Whatsapp message or Call. Availability is guaranteed at anytime.

Guide to Buying a House in Lagos

Let’s be honest, for every typical Nigerian, buying a house or owning a home is top on the bucket list. It is every Nigerian’s dream to be a homeowner at some point in life. This “big step” somehow depicts maturity or that a person is ready to start a family. However, buying your dream house can be a dream come true or one of your biggest regret. It is therefore essential to treat this process with patience in order to avoid some common home buying mistake. Especially in a megacity like Lagos, where the risk of fraud is high, exercising patience during real estate transactions cannot be overemphasized. That being said, this article is geared towards giving you a step-by-step guide to buying your dream in Lagos.

It is understandable that you are wildly enthusiastic about buying a house in Lagos, you probably want to skip the protocols and switch to level pro. However, before buying a house in Nigeria or in another place in general, it is absolutely necessary that you take time out to understudy the environment, the people and its social facilities.

Lagos is the smallest in area mass but ironically the largest in terms of population. This makes it extremely important that you do not fall prey to swindlers who seem to be getting better at their skill. Keeping that in mind, let take a quick tour around the city of Lagos.

Overview of Lagos, Nigeria

Lagos is infamous for being the most populated city in Nigeria and in Africa as a whole. Characterized by noisy and populated areas, busy roads and gridlock during peak hours. Lagos rarely has a boring side. The city prides itself as one of the fastest growing cities in the world and a major financial hub in Africa. It is certainly one of the best places to live in Nigeria

With a population of about 7,937,932 inhabitants as at the 2006 census, Lagos is to Nigeria what New York is to the United States of America. Lagos was originally inhabited by Yorubas but today, there are over 250 ethnic groups represented here. Lagos is now commonly referred to as “no man’s land”.

Lagosians-as locals are commonly called, enjoy a thriving nightlife in the district as Lagos is also said to be “the city that never sleeps”. From job opportunities, amazing resorts, exciting nightlife, cheap food, premium entertainment, the Lagos traffic and Agbero, countless worship centres and of course-the Lagos parties. What is not to love about the beautiful Lagos Metropolitan Area?
Although Abuja is the capital of Nigeria, Lagos is called “the commercial capital” of Nigeria. The city experiences a daily influx of people from different parts of the country. Most people come into Lagos for one business transaction or the other. Some other relocate in order to benefit from the opportunity and advantages that come with living in a nerve centre of the nation.

How to Find the Best House to Buy in Lagos
1. Draw Out a Budget
2. Use the Ideal Property Finding Platform
3. Decide on the Home Type that best suits your needs
4. Ask the Neighbours

1. Draw Out a Budget
Budgeting is the first and one of the most important things to before buying a house in Lagos. It is one aspect that you don’t want to get wrong or you won’t get a box of tissues things go south. It is also essential not to jump on every cheap offer to avoid being scammed. Don’t lose sight of your money budget in a bid to get the fanciest house.

One mistake first-time buyers make is not deciding on how much they are willing to spend on a house and sticking to the budget. Some even go as far getting a mortgage to help finance the purchase without a proper payback plan. It is, therefore, necessary to cut your coat according to your cloth as buying a house in Lagos can be a tricky experience.

When buying a house without a budget, you are very likely to spend more than what is needed. Before you embark on buying a house, it is very worthwhile to ask yourself, how much do I want to spend? You do not only come up with a budget, but you should also ensure that you stick to it.

Use the Ideal Property Finding Platform
In recent times, the method of moving from house to house before settling for a particular property can be a very exhausting task. Stop to think of this, if that was the only means there was to find a house of your choice how many houses can you cover? And think of the time it is going to consume.

Decide on the home type best suits your needs
This is one of the first things to do when trying to buy a property. Unlike renting an apartment, buying a house is a more delicate decision. There are a number of risks that come with it, most of which will eventually determine how you will enjoy your new home. As said earlier, owning a house in Lagos can be one of the best decisions to make or one of the worst. What determines what the outcome of this choice is how well you do your due diligence.

If you have ever been to Lagos or lived here, then it is certain you are aware that Lagos is divided into two-the Lagos mainland and Lagos Island. These two parts of Lagos differ in terms of prices of properties among other factors. There are several residential properties for sale in Lagos. You could almost never run out of a place to look. However, what you settle for should be based on the homeownership goal as an individual’s want and need differ.

In deciding on a house to buy, it is important to put into consideration why you are getting a house in Lagos, what type of house you want, where in Lagos you want your house situated and of course things you want in your house. For a family raising children, a neighbourhood that has no school in its vicinity may be a wrong choice. For those who work on the Island, getting a house that is in proximity to their place of work may also be important.

Buying a house isn’t just any random decision or process, it is one that requires a lot of thought and work. Lagos offers a wide array of houses for sale which ranges from Bungalows, duplexes, townhouses and penthouses. An important point to note is that the prices of these houses differ from location to location as well as depending on the facilities found within. Remember to make your list as precise and as realistic as possible.

Ask the neighbours
Talking to people in the neighbourhood where you intend to buy a house is a very good idea. Neighbours will reveal factors that property owners may intentionally or unintentionally skip doing the buying process. It is important to get in touch with people who have lived around for a while. As the old saying goes, “Learn from the experience of others”.

First-time buyers often make the mistake of taking the seller’s word hook, line and sinker. To avoid the risk of being defrauded, it is necessary to do a mini-survey about the neighbourhood by talking to residents around.

The next step you probably want to consider is to check out the neighbourhood. That is after you must have found an ideal apartment or property, it is important to check out the neighbourhood. Most times the listing might not contain all the information you need to make a

What to Consider Before Buying a House in Lagos
Some important things to consider when buying a house in Lagos include
1. Location
2. Price of the property
3. Social Facilities
4. Cost of maintenance

Location
The location of your house is a very important factor to consider. The cost of buying a house in Lagos sometimes depends on the location of the property in question. As mentioned earlier, Lagos is divided into two parts and in terms of real estate, these two parts differ in price. The price for houses for sale in Lekki is undoubtedly more than the prices for houses in Ikorodu or any other area in Lagos.

Price of the Property
When trying to get a house for sale in Lagos, it is essential that you put the cost of the property into consideration. There are a number of affordable properties for sale in Lagos. The cost of the house largely depends on the location, facilities available and other hidden charges (such as the certificate of occupancy). Some high-end areas in Lagos such as Ikoyi, Victoria Island houses a vast number of luxury homes for sale. Therefore, when buying a house in Lagos, the cost of the property as when as other hidden charges should be clearly noted. For this aspect of the process, it is advisable to contact a lawyer.

Social Facilities
In the process of buying a house, it is important to be thorough all the way. Inasmuch as you desire a nice house that fits the description of your dream home, you may also want to take a look around the neighbourhood, an extensive tour won’t be a bad idea. Find out what the overview of the neighbourhood looks like. From the road structure, road network, drainage channels, green space, the presence of schools, worship centres, major markets, sporting facilities and much more.

Cost of Maintenance
If you are buying a house that isn’t new, you might want to keep a few extra nairas for maintenance cost. There might be repairs or replacements that need to be done, in other cases, some additions that would turn the house into a home. In buying a house in Lagos, It is advisable to stay true to your budget and set your priorities right.

Buying a house in any part of the country can be tasking. The process might still seem cumbersome to you or maybe not, whichever way, there’s no rush, take your time with every step. Buying a house in Lagos can be an enjoyable experience especially if you patiently get the perfect one. Kindly share your opinion with other Deji Real Properties Ent. readers