PERFECTION OF LAND TITLE IN LAGOS STATE

“Perfection of Land Title” in Lagos State simply means registering a title ( or interest in a property) with the government. when purchasing a property in Lagos, to be sure that what is being bought is genuine and will not be sold to anyone else after making payments, it is important for he buyer of the property to obtain proper title if none existed before, or perfect the title of the one that already existing in the buyers favour.

Section 22 of The Land Use Act of 1978 states that : “it shall not be lawful for the holder of statutory Right of Occupancy granted by the Governor, to alienate his Right of Occupancy or any part thereof by assignment, sublease e.t.c without the prior concept of the governor”  what this mean in simple language is that if property has  a Certificate of Occupancy which makes the beneficiary the legal interest holder on the land , if he decides to resell or do anything with the property, since the Land is held in trust by the State Government, the Governor needs to approve that transaction. otherwise, the title that will be transmitted is not perfect and it means that the final authority on landed matters is not aware of the transaction and the implementations can sometimes be grievous.

There are two types of Governors approval when it comes to Landed property transactions. Approval to transfer part or all of the sellers interest to the third party and the other is the consent  to mortgage. Below are the documents needed to be forwarded to office of the Survey General for charting for the perfection of Title documents:

  • A duly completed application made on Land Form IC which must be dated and signed by the parties to the transaction and sworn to before a Magistrate or Notary Public .
  • A cover letter from Solicitor /Applicant filing the applicant for Governors consent
  • A certified original copy of the Title document of the property.
  • The sum of N10,500.00 for charting fee,endorsement fee and Form IC made payable to the Lagos State Government.
  • Four copies of the deed of deed of Assignment with survey plans attached in each copy.
  • Photograph of the Property
  • A current Tax Clearance certificate of the  parties involved in the transaction.
  • If there are no defects in the survey plan, a clean report is send to the Lands Bureau and a demand notice is issued to the to the applicant for the following fees which are percentages of the assessed value of the property. The following fee are paid in favour of Lagos state Government to the Bank and receipt will be issued in acknowledgement.
  • Consent fees of 1.5%, Capital Gain Tax of 0.5%,  Stamp Duty of 0.5%  and Registration fees 0.5%
    Akinwunmi-Ambode-First-Day
    However, the targeted period from the Government is 30days but the process takes at least three month to conclude if all assessment and required fees are paid promptly and no defects in the file documents of the applicant.
    Steps to follow by the applicants:
  • Application & accompanying documents are to be received at the land Bureau from the        Applicant.
  • Application is uniquely referenced for Identification purpose at the Lands Bureau.
  • Investigation of the status of the land through charting will be done at the office of the Survey General.
  • Assessment of property to determine applicable fees by officials of the Lands Bureau.
  • Issuance of Demand Notices at the at the Account Office at the Lands Bureau.
  • Applicants pays and forward treasury receipts of payment of payments of fees to the Accounts Department
  • Approval & Endorsement of documents Governor or Commissioner.
  • Stamping of documents at the at the Lands Bureau
  • Registration of documents at the Lands Registry.
  • Collection of registered documents by the applicant at the  Lands Bureau.

In Clone Properties Nigeria Ltd. we made title documents registration easy for you, for further inquiries kindly contact us for your processing.

 

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