Property

Property

Compared to other parts of the world, owning a property in Nigeria isn’t really difficult but everything must be done in line with the constitution of the land, and so one must register his properties using a land or building as the standard. Below are the steps that must be taken to ensure your property is legally registered to be free from dispute.

1. Conduct a property title search at the Land Registry, with a sworn affidavit signed by the Commissioner of Oaths of the status of the party and purpose of search.

2. Obtain Application Land Form 1C and the assignor and assigned should complete and sign Land Form 1C and four (4) copies of the Deed of Assignment.

3. Obtain Certified True Copy (CTC) of title document. The letter you need to obtain this document must be accompanied with a sworn affidvit of purpose to support an application, so that you can get the Governor’s consent.

4. Obtain a survey plan as approved by the Town Planning Authority, which is required for the Governor’s Consent. The survey plan gives the coordinates of the plot and must fit in the official map.

5. Execute Deed of Assignment/Conveyance and Land Form 1C.

6. Pay the charting fee, administrative fees, and endorsement fee at a designated bank. They are usually paidnto commercial banks, a receipt and your paying in slip would be be designated and a bank draft payable to the government.

7. Submit application for Governor’s consent to the assignment. This is meant to be granted within 30 working days of submission of completed applications.With Administrative Fee of N3,000O btaining the Governor’s consent require the following documentation:
• Covering letter with Address and Telephone Nos.
• Completed Form 1C
• Certified True Copy (CTC) of Title Document of Assignor
• Current Tax Clearance Certificates of the Assignor and Assignee
• For Limited Liability Companies, the Internal Revenue Certificate of PAYE Directors
• Four (4) copies of the Deed of which Consent is sought should be attached.
• Copy of the Survey Plan, as approved by the surveyor General office and a picture of the Building
• Evidence of payment for Charting fee, Endorsement fee, Form 1C
• Evidence of payment of Land Use Charge
• Where the Property is covered by a State Leasehold or Certificate of Occupancy, evidence of payment of Ground Rent, up to date.
• Where the Property is covered by a State Leasehold or Certificate of Occupancy, evidence of payment of Ground Rent, up to date.
• A photograph of the property
• A copy of the applicant and/or his agent/legal representative’s identification.

8. Obtain notice of stamp duty, registration fees, consent fees, neighborhood improvement charge at the Land Registry, with payments made to any commercial bank, after the true value of the property has been assessed. Then Submit the documents to Land Registry.

9. Obtain file from the Land Services department, while also following up your file in the land registry.

10. Have the deed of assignment stamped. This deed is meant to be presented at the Stamp Duties Registry (agency of Inland Revenue Services) by the lawyer for stamping.

11. Receive Registration of Certificate of Occupancy or Deed and Title, provided all payments have been met.

Registering property in Nigeria takes approximately 82 days as compared to about 81 days. But before you begin the process to purchase, or register, a property, confirm details with knowledgeable entities.