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All You Need To Know Before Investing In Landed Properties. - Investment - Nairaland

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All You Need To Know Before Investing In Landed Properties. by adeseyeyemisi: 3:11pm On Aug 16, 2018
Everyone wants to own a land but not everyone wants to know what it takes to own a land. I will be taking you through some vital information you need to know before acquiring a land.

1. Real Estate: Real Estate is all about Land and all other things related to land.

2. Land measurement: Land is measured in feet or square meters.

3. Land Classification: Land can be classified as free or acquired. A parcel of land is considered free if the government has not indicated interested whatsoever on that land. Such land can be bought safely because the title of the land can be obtained without issues.

4. Excision: Excision is a process whereby the government releases a portion of an expanse of land that has not been committed by the government.

5. Committed Acquisition: Government has indicated an intention to use that land for a specific purpose such as provision of Amenities.

6. Global Acquisition: Government has not taken any acquisition on the land.

7. Gazette: A gazette is an official record book where all special government details on the land are spelt out, detailed and recorded.

8. Survey plan: A survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of the land. A survey plan must contain the following.
* Name of the owner of the land surveyed.
* Address of description of land surveyed.
* Size of the land surveyed.
* The drawn out portion of land surveyed.
* The beacon numbers.
* The surveyor who drew up the survey plan.

9. Deed of Assignment: This is a transactional document drawn up by a real estate attorney between the title holder of a particular property and the new buyer.

10. C of O: This is known as Certificate of Occupancy officially leased to a client upon the purchase of a land.

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