Before you purchase any land in Lagos, it is important you find out if it’s genuine.
Acquiring a landed property in a vibrant urban center like Lagos can be one of the most fulfilling investment decisions for a Nigerian. The rapid appreciation of properties in such areas underscores this sentiment.
For instance, in the span of just a year, from 2017 to 2018, a plot of land in Lekki surged from approximately 5-6 million Naira to a staggering 25-30 million Naira. Such exponential growth represents an enticing return on investment that attracts savvy investors. As it is today, you may not get genuine land in Lekki Lagos for 60 million naira.
However, navigating the landscape of property acquisition in Lagos isn’t without its challenges, and inexperienced investors are susceptible to scams. For many prospective buyers, the primary concern revolves around distinguishing genuine properties from fraudulent ones.
This article aims to address this concern by outlining methods to ascertain the authenticity of a landed property in Lagos and the essential documents required for verification.
Methods to Determine the Authenticity of a Landed Property in Lagos:
1. Verification of Property Title
Validating the property title stands as one of the most reliable methods to confirm the genuineness of a landed property in Lagos. Lagos State boasts an efficient land documentation system that issues titles, providing crucial information such as ownership details, location, and other pertinent features.
This facilitates prospective buyers in assessing the ownership status of a property before committing financially.
Titles may include a Certificate of Occupancy (C of O), Governor’s Consent, Excision and Gazette, Grant of Probate, Right of Occupancy (R of O), Registered Court Judgment, among others. Requesting to review these title documents and verifying them with relevant government agencies, notably the Lagos State Land Bureau, offers insight into the legitimacy of a property.
2. Conducting a Search at the Lands Registry
Another avenue to verify the authenticity of a landed property in Lagos involves conducting a search at the Lagos State Land Registry. This step entails verifying the property information, including ownership status, location, and specifications, against records held at the registry.
Additionally, this search helps uncover any encumbrances or unresolved disputes associated with the property, safeguarding buyers from potential legal entanglements.
3. Survey Plan Verification
Verification of the survey plan serves as another means to confirm the genuineness of a landed property in Lagos. Properties registered at the Lagos State Land Registry possess survey plans detailing crucial physical features such as boundaries and size.
While any qualified surveyor can prepare these plans, they must receive approval from the Surveyor General of Lagos State. An approved survey plan corroborates the existence of a property and contributes to its authenticity, provided it aligns with the property’s physical attributes.
4. Physical Inspection
Irrespective of the validity reflected in documents, a physical inspection remains imperative when assessing a landed property. Visiting the property site allows potential buyers to verify if the property corresponds with the descriptions outlined in official documents.
Any disparities observed during the inspection warrant caution, signaling potential discrepancies between documentation and reality. Furthermore, a physical inspection aids in identifying disputes, encroachments, or unauthorized occupants on the property.
5. Engaging a Legal Professional
While conducting due diligence independently is commendable, seeking guidance from a legal professional specializing in property transactions in Lagos enhances the verification process.
Collaborating with a knowledgeable legal advisor familiar with local land laws streamlines the verification process and ensures well-informed decision-making.
An experienced land lawyer assists in comprehensive research, identifies potential legal disputes, and offers informed guidance throughout the purchasing process.
6. Consulting Neighbors
Often overlooked yet invaluable, consulting neighbors of the property in question can provide valuable insights into its authenticity. During physical inspections, engaging with neighboring property owners allows buyers to glean information regarding any disputes or issues associated with the property.
Verifying information from multiple sources enhances confidence in the accuracy of gathered details.
7. Documents Required for Verification
In addition to the methods outlined above, various documents serve as indispensable tools for verifying the authenticity of a landed property in Lagos. These documents include:
- Title documents
- Survey plan
- Purchase receipts
- Deed of assignment
- Approved building plan
- Valid identity documents of the landowner
It’s crucial to obtain original copies of these documents and submit them to the relevant authorities for thorough verification.
Conclusion
In conclusion, how genuine a land is in Lagos hinges on its proper titling, possession of requisite official documents, and absence of encumbrances or disputes.
Although the verification process may be arduous and resource-intensive, the ultimate reassurance it provides is invaluable. When navigating property acquisition, particularly in bustling urban centers like Lagos, exercising caution and meticulous verification of documents with appropriate government agencies and legal professionals is paramount.
With due diligence and careful scrutiny, buyers can confidently ascertain the authenticity of a landed property in Lagos, safeguarding their investments effectively.
