The aspiration to own personal property remains a constant across the world. As different regions of Nigeria experience development, there is a correlating increase in construction to fill the needs and demands for properties.
However, there are some legal processes and requirements that are necessary for owning any property in Abeokuta. If you are considering acquiring properties whether it pertains to land, buildings, or even estates, this article highlights the legal requirements you need to own a property in Abeokuta.
7 Legal Requirements for Owning a Property in Abeokuta
Some general considerations for owning a property in Abeokuta include:
1. Land Titles and Ownership
It is important to determine the type of ownership and land title before purchasing a property because there are different types of land tenure systems in Nigeria. These include:
- Statutory rights of occupancy: This is a form of land ownership granted by the state government conferring the right to occupy and use the land for specific purposes, usually subject to certain terms and conditions.
- Customary rights of occupancy: These rights are based on customary laws and are usually applicable to rural and traditional areas. Customary owners have the right to use the land but ownership remains with the community or family.
- Private ownership: Individuals or entities can also own land properties, typically with a valid Certificate of Occupancy (C of O) issued by the state government.
2. Land Use Act
The Land Use Act of 1978 is an important piece of legislation governing land usage and ownership in Nigeria. Before acquiring land, it is important to navigate the processes and requirements outlined in this Act. According to the Act, “all lands in Nigeria are vested in the respective state governors, individuals and entities can only obtain rights of occupancy from the state government, whether statutory or customary.”
3. Property Documentation
It is also important to ensure that all relevant property documents are properly executed and registered when buying a property in Abeokuta. These documents include:
- Certificate of Occupancy: It is an important proof of a document, typically issued by the state government, that demonstrates the legal right to occupy and use land.
- Deed of Assignment: This is a document that transfers ownership from seller to buyer. And this document must be properly executed.
- Survey Plan: This is a document that surveys and outlines the borders and boundaries of a property. It helps to avoid boundary disputes and is usually required during property transactions.
4. Verification of Property
It is advisable to conduct due diligence to verify the authenticity of property documents and confirm that the seller has the legal rights to sell the property. This may involve conducting searches at relevant government agencies or engaging the help of professionals to verify the property’s status. Rush Gardens provides assistance in this regard while offering consultancy and real estate services.
5. Government Approvals
Depending on the type of property and its intended use, one may need to obtain approval from the government and relevant agencies. This is because these approvals may either be building permits, environmental clearance, or other regulatory requirements.
6. Taxes and Fees
There are various taxes and fees associated with property ownership in Abeokuta. These include property taxes, stamp duties, and registration fees.
7. Legal Assistance
Given the complexities of property ownership in Abeokuta, it is highly recommended to seek legal assistance from a qualified lawyer, who knows property laws, to guide you through the process.
Wrapping Up
The process of obtaining a property without liability in Abeokuta can be a complex and difficult one. But by following the 7 steps outlined in this article, you can make that process easier and worthwhile. So, to avoid possible legal issues, be sure to consult with real estate and legal professionals during each step of obtaining a property in Abeokuta.
