WHAT YOU SHOULD KNOW BEFORE BUYING LAND: UNDERSTANDING LAND DOCUMENTS
Land can be classified as either free or acquired. A parcel of land is considered free if the government has not indicated any interest whatsoever in that land. Such land is safe to buy because the title on the land can be perfected without encumbrance or any impediments.
In most cases, such lands will either have a gazette, a C of O or a governor’s consent.
Now that you understand what it means for land to be free, you should also know that all lands that fall within areas that are designated as ‘urban areas’ are under government acquisition until deemed committed or free.
There are two types of acquisition:
1. Committed Acquisition
2. Global / General Acquisition.
A parcel of land is said to be under committed acquisition when the government has indicated an intention to use that land for a specific purpose such as provision of amenities.
Such lands belong to the government and can never be available for use by individuals. If you purchase land that is under committed acquisition, it will be impossible for you to perfect your land’s title in the ministry of land in Alausa (In Lagos )and you’will only be occupying the land until the government comes to kick you out.That is what I called effort in futilities. Never allowed omo – olile to collect your hard earned incomes for such a wasteful adventure.
Global or General Acquisition
Lands that are under “general acquisition” or “global acquisition” can later be confirmed ‘free’ or ‘committed’ as the case may be.
A land under general acquisition can become free by a process called excision.
“Excision is a process whereby the government releases a portion of an expanse of land that is not committed” If a parcel of land that was formerly under acquisition becomes excised; it is then considered free and becomes gazetted.
I am sure you now understand these basic principles before buying landed properties.
You also understand what is means when a land is free or committed.
You no doubt can remembered I mentioned the two types of acquisition?
You can also recalled the meaning of Excision and Gazette.
Thanks you for your time and do not hesistate to reach out to me when in doubt or contemplating of buying land.
A Key gives you access to your house or car, What is that key that give you access to your landed properties? Please remains poised as I talk about the key to your treasured properties, Deed of Assignment.