*LAND TITLES YOU NEED TO UNDERSTAND IN NIGERIA BEFORE YOU PURCHASE YOUR NEXT PROPERTY (Real Estate Revelation Series 3)*

*What is Land Title:* Land Title may be defined as the rights or ownership claim a person has over a property. it simply means for you to claim land title you must show other people the right you have over that land.
*TYPES OF LAND TITLE IN NIGERIA*
✅ Excision
✅ Gazette
✅ Certificate of Occupancy
✅ Governor consent
✅ Freehold

✅ *EXCISION:* An Excision means basically taking a part from whole land and that part that has been excised will be recorded and documented in the Official government gazette of that state.
For example:In 1981, Victoria Island, Ikoyi and Lekki were all part of one big commonly joined together called Oniru and it had no separation to know which area is called Ikoyi, Lekki or V.I then and it has a approximately total area square meters estimate of 100,000 Square meters and the Government is interested that area and decides to take 70,000 square meters for its self, for its own personal use as an urban Area or public Purpose.

✅ A Gazette is an official record book where all special government details are written and recorded.

A Gazette details or show the number of acres of land retained by the government for public use and the number given to the local communities or real estate company.

Furthermore, A Gazette will show the communities or villages or real estate company that have granted excision and the number of acres or hectares of land that the government has given to them. It is within those excised acres or hectares that the traditional family or Community or real estate company is entitled to sell to the public and they will not go beyond the one that is excised to them.

*THE DIFFERENCE BETWEEN EXCISION AND GAZETTE*
To excise a land means to cut it. This is the process whereby the Government releases a parcel of land back to the Indigenous owners of such lands for the purpose of residential and commercial developments.when this excised parcel of land is published in government official gazette and announce in the newspaper such a land is said to have Gazette as Title.

Excision and Gazette are very good Titles for a piece of land,such lands are safe to buy and develop.

✅ *CERTIFICATE OF OCCUPANCY*
A certificate of occupancy, also know as the C of O is a document issued by state governments in Nigeria to landowners and property buyers as a legitimate proof of Ownership.This document explained what the land can be used for, may be residential, Commercial or mixed development.

The government is constructionally mandated to issue the Certificate of Occupancy because all lands in the state are vested in the Governor of the state. This is clearly spelt out in the Land Use Act of 1978.

✅ *Benefits of Certificate of Occupancy*
�It makes the person named on the document the exclusive owner of the land.
�It Prevents a situation where a single Property is claimed by multiple owners
�It is an acceptable as a security or collateral for loans from banks and other financial institutions.
�It is widely used to resolve land disputes that arise from ownership tussle.
�It is a very crucial document during mortgage transactions.

*✅ What is Governor's Consent:*
A Governor's Consent can only be processed on a land with either Gazette or an Existing certificate of Occupancy ( C of O), if a person has a land with certificate of Occupancy decides to sell his land,the only Documents that can give the new buyer or every other subsequent buyer's the right of occupancy or ownership is *Governor's Consent*

✅ *Freehold*
Freehold can be defined as an Estate or property which is free from hold of any entity,that is it is free from Government Acquisition. Hence the owner of such Property can enjoy free ownership for life and it can be used for any purposes (whether Commercial or residential purposes).

This kind of land or Property can be transfer through Deed of Assignment.

Example of this property can be find in Epe.

For more information or Questions Feel Free to call me on 09035487771 or Click on the link below �
https:///3bmXUIR or message us @ oluwanisolaconsult02@gmail.com.

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What's the cost of acquiring a C OF O

It depends on the location but you click on my WhatsApp Link in the post or call me on 090354877771