There are 10 must-have property documents every property owner must have to be guarantee of their investment, especially in Lagos where people are being ripped off their property on a daily basis. This 10 documents give you rest of mind and it give you absolute control of your property. It’s advisable for everyone who is buying property in Nigeria to demand or perfect their property so their minds can be at rest, in order to avoid Omoonile/unstable government policy, most especially in Lagos, Nigeria.
Below are the 10 must have documents and what they stand for.
DEED OF CONVEYANCE
The Deed of Conveyance is a legal document that transfers ownership of a property from the seller to the buyer. It includes details of the property, the parties involved, and the terms of the transfer. To obtain a Deed of Conveyance, the seller must sign the document in the presence of witnesses, and it must be registered with the relevant land registry.
CERTIFICATE OF OCCUPANCY (C OF O)
The Certificate of Occupancy (C of O) is a legal document that proves the ownership of a property. It is issued by the state government and serves as proof that the property is not under any government acquisition. To obtain a C of O, the buyer must apply to the state government, and the process can take several months to complete and registered with the relevant land registry.
DULY PERFECTED ASSENT
Duly Perfected Assent is a legal document that is required when a property is inherited by a beneficiary. It serves as proof of the beneficiary’s ownership of the property. To obtain a Duly Perfected Assent, the beneficiary must apply to the probate registry.
DEED OF ASSIGNMENT
The Deed of Assignment is a legal document that transfers the ownership of a property from one party to another. It is used when the seller does not have a Deed of Conveyance or when the property has been previously assigned. To obtain a Deed of Assignment, the seller must sign the document in the presence of witnesses, and it must be registered with the relevant land registry.
SURVEY PLAN
The Survey Plan is a legal document that shows the boundaries and measurements of a property. It is important to ensure that the property being sold matches the description in the survey plan. To obtain a Survey Plan, the buyer must engage a licensed surveyor to survey the property and create the plan.
BUILDING PLAN APPROVAL
The Building Plan Approval is a legal document that shows that a property has been approved for construction by the relevant government agency. It is important to ensure that the property being sold has the necessary building plan approval to avoid legal issues. To obtain a Building Plan Approval, the owner of the property must apply to the relevant government agency.
EXCISION
Excision is a legal process where the government revokes its interest in a portion of land that was previously designated as government-owned. It is important to ensure that the property being sold has been excised to avoid legal issues. To obtain an Excision, the owner of the property must apply to the relevant government agency.
THE SALE AND PURCHASE AGREEMENT
The Sale and Purchase Agreement is a legal document that outlines the terms and conditions of the property transaction. It includes details of the parties involved, the purchase price, and any other relevant terms. To obtain a Sale and Purchase Agreement, both parties must agree to the terms and sign the document.
GOVERNOR’S CONSENT
Governor’s Consent is a legal document that is required for the transfer of ownership of a property from one party to another. It is issued by the state government and serves as proof that the state government has approved the transfer of ownership. To obtain Governor’s Consent, the buyer must apply to the state government, and the process can take several months to complete
GRANT OF PROBATE
The Grant of Probate is a legal document that gives the executor of a deceased person’s estate the authority to manage and distribute their assets. It is important to ensure that the property being sold is free from any probate issues. To obtain a Grant of Probate, the executor of the estate must apply to the probate registry.
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