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Nairaland Forum / Nairaland / General / Properties / Help! I Saw This On The Document Of The Property I Want To Buy. (52696 Views)
Be 100% Sure Of The Property You Wish To Acquire At Ibeju Lekki / Land Without Document / LAND DOCUMENT OR TITLE To Know Before Buying Property In Lagos #Safety first (2) (3) (4)
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Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:16pm On Jul 01, 2016 |
The lease means the guy does not own the land. He cannot sell it to you. He can only lease it to you as well. You would be a sub lessor. If for any reason the lease expires or is revoked in the course of your sublease, you would have to engage the original owner. You can contact Omo Onile lawyer for professional advice |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by talk2odim: 5:19pm On Jul 01, 2016 |
paulabdeel: Precisely....... |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:38pm On Jul 01, 2016 |
sweatlana: Very concise, he has explained it the way it is. My advice, don't buy. |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:39pm On Jul 01, 2016 |
beesammy: This is true, except you owned your land before the coming into existence of the land use act. Those who owned land before 1978 still have freehold title on their land. So it makes no sense to sell you the land because even if you are sold a plot of land you can only own it for 99 years inder the land use act. If a traditional family "sells" you land, then you own it for 99 years (or whatever term agreed, in your case 70 yrs) after which it becomes govt land, this is why people with old freehold title (pre 1978) lease their land not sell, so after the lease the land reverts back to them and not the govt. As far as it affects you the lessee, I really don't think it makes any difference whether you buy or lease because at some point you (most likely your offspring) will have to pay to extend your right to the land, the question is whether you will be paying to the owner or to the govt. Point is there is nothing wrong with a lease, you may want to ask for a longer period of years but whether you buy land or lease land in Nigeria, the maximum no of years you have any right to the land on any transaction concluded after 1978 either as owner or lesssee is 99 years. So really it makes no difference! this is my understanding, seek proper advice though 1 Like |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Elebiju: 5:42pm On Jul 01, 2016 |
Please get a good property lawyer or ask dontee2015 he is viewing the thread now |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by truthspeaks: 5:44pm On Jul 01, 2016 |
![]() ![]() ![]() ![]() ![]() whirlwind7: 9 Likes |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by OKOROXXX: 5:46pm On Jul 01, 2016 |
Legally, you are not buying that property, you are only leasing it. and it remains only 42 yeard. you be dead by then sha, so you son will be in and out of court. you no see property for lekki? na agbara u dey go find wahala |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by josite: 5:49pm On Jul 01, 2016 |
Go to the family head or the king of that area and let them sign along the selller assigning the property to you for the number of years.don't take a sublease,take an assignment thereafter go to lands and apply for extension of your grant to 99 years and ithereaftet get a c of o in your name.I will take 500k for all these. |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:53pm On Jul 01, 2016 |
whirlwind7:You sound arrogant! Why then ask for opinions if you are soooooooo knowing ? ![]() 1 Like 1 Share |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:55pm On Jul 01, 2016 |
coolsalm:Retain the services of a competent estate Surveyor and valuer do do the document investigation and ammendment.. Nigerianz keep screaming lawyer like say lawyers are charged with issues bordering on land. . or better still go to the states ministry of lands, Give the documents to the land officer and explain your debacle, the deeds of assignment will be reconstructed, all former parties to the land will be consulted for opinion, then u can apply for C or O once its has been entered into deeds and registry. |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by youngestland: 5:55pm On Jul 01, 2016 |
@OP I bought one like this 2 years ago. before I paid I did all my home work well the truth is....that was how land was sold then. anyone that has something different from this around the 70's should please bring it out lets see although the former owners of mine went to the govt during obasanjos first regime and did some other things, that actually took the land from the omo nile but even the govt paper still carried 99 years sha I bought it and am living there in peace |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by TaiKuun(m): 5:56pm On Jul 01, 2016 |
cutetopsey:atigbo! ah how many times dyu wanna say it 1 Like |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Onyemaboy(m): 5:57pm On Jul 01, 2016 |
Op,they have said it all. The choice is yours to make |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 5:59pm On Jul 01, 2016 |
carboblanko: Competency is the watchword here. I used a Lawyer to locate a suitable land for purchase and he still led me into omo onile issue directly. 2 Likes |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by josite: 5:59pm On Jul 01, 2016 |
Go to the family head or the king of that area and let them sign along the selller assigning the property to you for the number of years they have left..don't take a sublease,take an assignment thereafter go to lands and apply for extension of your grant to 99 years and thereaftet get a c of o in your name.I will take 500k for all these.since land use act comes into effect,all freeholds are converted to 99 years lease. In practice you apply for an extension when your 99 years is up or even when it remains forty years. |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by professore(m): 6:05pm On Jul 01, 2016 |
Tread carefully |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Duru009(m): 6:11pm On Jul 01, 2016 |
Pls donot buy or lease or hire a lawyer. Dre is already some complications. My advise: Go for another land or property. Thanks |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by baqina(m): 6:16pm On Jul 01, 2016 |
beesammy: Going by your "outright owner",why do governments pay compensation for relocation and demolition? |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by flyingofficer: 6:19pm On Jul 01, 2016 |
You might just be trying to avoid paying a lawyer, but you know that something is not clear on the matter, it not wisdom on your part- you need the services of an expert ,and not the opinion of Nairalanders. It might cost you in future |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by bodeface: 6:19pm On Jul 01, 2016 |
Just a digression here and extending it beyond this scope. Most estates developers in Lekki areas are also giving "deed of sublease" and retiring the lease before the expiration of their C of O residue, though all land in Nigeria are vested in the hand of the governors and nobody owns the land, however retiring the lease before the expiration of the original lease (C of O) term puts the buyer at disadvantages in the future; 1. The buyer has no legal standing on the land by few days to the end of the C of O term and is not recognized any longer by the governor even with the "governor consent" to this lease, hence to extend the lease after 99years is solely vested in the original holder of the land (C of O), he is the only one recognized by the governor since the other party lease has expired just before the the c of O expired and the land reverted to the holder of the C of O. 2. Extending the lease now depends on the original C of O holder and he is the only one recognized by the governor to approach government for extension of the c of o, therefore the buyer is now at absolute mercy or conditions set out by the original owners and their heirs or benefactors. They may ask for exorbitant amount to renew the lease to the occupier of the land, just think about someone being told to move from their Ikoyi house as their fathers lease on the land has expired! My little advice is shine your eyes before you leap, but into " sublease" at your own risk, if avoidable please look for land with title " Deed of Assignment" meaning the original owner of the C of O has assigned all his interest in the piece of land to you and you have become the owner of the residue of the C of O and by extension any future extension, you can approach the government to extend your lease, anyway its all about reserving an inheritance for ones ward, if the sellers are reserving some right for their wards what stops the buyer from doing so. |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by whirlwind7(m): 6:21pm On Jul 01, 2016 |
jenigurl: Jesus! As pretty as you are, you couldn't read too! ![]() After I took the pains to correct everyone who quoted me on this thread that I'm not the OP, that I'm not the one seeking for advice or opinions, you lots keep falling into the same pit. So, like the rest of them, you can't read, or you couldn't differentiate between the OP and a responder? Has everyone suddenly gone bonkers? What's causing this confusion, anyway? 8 Likes |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by 6fit(f): 6:24pm On Jul 01, 2016 |
Uchihaitaci: no mind d nigga.......instead of visiting d closest lawfirm 2solve his wahala his comming to NL |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by bodeface: 6:26pm On Jul 01, 2016 |
bodeface: |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by bukalis(m): 6:26pm On Jul 01, 2016 |
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Re: Help! I Saw This On The Document Of The Property I Want To Buy. by elvis07: 6:27pm On Jul 01, 2016 |
Jst be careful with such properties bcus if i make d mistake of buying this property, there is every likelihood dat u will b running back to original land owners to obtain permission to re-spray ur own gate. I ve seen it and i knw wat i am talking about. Run from such land |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by DAntivirus: 6:29pm On Jul 01, 2016 |
![]() whirlwind7: You've offended sombori... Go and ask that girl u dumped for forgiveness... ![]() whirlwind7: You've offended sombori... Go and ask that girl u dumped for forgiveness... 3 Likes |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 6:31pm On Jul 01, 2016 |
yes the 70-year clause is also on my dad's property. nothing to worry about |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Jawondoasanni(m): 6:48pm On Jul 01, 2016 |
The clause is a caution for you, if you go on without recourse to it the seventy years will come to pass afterwards. Don't be scammed, ok? |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by CrownV12(m): 7:01pm On Jul 01, 2016 |
coolsalm:from my limited knowledge of the law, whatever land you're buying from whoever you are buying from is operating on a 99 year lease from the government which legally should return to the crown's (government) title after 99 years. The family "leased" the land for 99 years so upon your purchase you should continue on the "lease" to the family. However i do not think this should be a problem because in the real sense the government wont take your property after the 99 years. There is no land in the whole Nigeria that belongs to an individual we all tenants to the government that is why if the government finds oil on your land you will only be compensated and the land taken over as the government is the original owner of the land so the oil isn't yours. Id advise you to get a lawyer to authenticate the title of the land and work out your deed of transfer. I hope you get the property. I stand to be corrected as no one knows all. Cheers |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by beesammy(m): 7:04pm On Jul 01, 2016 |
Because you have certificate of OCCUPANCY, (note, IT'S NOT CERTIFICATE OF OWNERSHIP). They have to compensate for exercising their power of eminent domain for overriding your right (unexpired leasehold interest). Government can only acquire land for public use (public schools, roads, prisons, hospitals etc), not to revoke your ownership and now transfer leasehold interest to an individual. I hope you find this informative. baqina: |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by Nobody: 7:05pm On Jul 01, 2016 |
whirlwind7:I think you need to go back to sleep,so you can wake up on the right side of your bed, I am so laughing my arse off right now, this is how people pay for the crime they didn't commit o ![]() ![]() ![]() ![]() ![]() 3 Likes |
Re: Help! I Saw This On The Document Of The Property I Want To Buy. by beesammy(m): 7:07pm On Jul 01, 2016 |
Because you have certificate of OCCUPANCY, (note, IT'S NOT CERTIFICATE OF OWNERSHIP). They have to compensate for exercising their power of eminent domain for overriding your right (unexpired leasehold interest). Government can only acquire land for public use (public schools, roads, prisons, hospitals etc), not to revoke your ownership and now transfer leasehold interest to an individual. I hope you find this informative. baqina: |
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