Lagos is one of the most sought-after locations for real estate investment in Nigeria. However, the process of acquiring land in Lagos can be fraught with risks if proper due diligence is not conducted. One of the most critical steps in land acquisition is verifying the land title. Below are the top reasons why verifying land titles before purchase is essential:
1. Avoiding Land Scams
Lagos has a history of fraudulent land sales where unsuspecting buyers fall victim to land scammers. Without proper verification, you could end up purchasing land that does not legally belong to the seller.
2. Confirming Ownership and Authenticity
Verifying land titles ensures that the person or entity selling the land is the rightful owner and has the legal authority to transfer ownership.
3. Preventing Omonile Issues
Omonile (indigenous landowners) disputes are common in Lagos. Many buyers have faced harassment, double sales, or land grabs due to failure to verify land documents.
4. Ensuring Compliance with Government Regulations
Lagos has specific land use laws, and some lands are designated for government projects. Proper verification helps ensure that the land is not under government acquisition or restricted for specific use.
5. Avoiding Future Legal Disputes
Buying land with unclear ownership can lead to lengthy and costly legal battles. Verification helps prevent potential legal troubles in the future.
6. Confirming the Type of Land Title
Lands in Lagos come with different types of titles such as Certificate of Occupancy (C of O), Governor’s Consent, and Excision. Verifying the title ensures you are aware of what you are purchasing and its legal standing.
7. Securing Investment and Resale Value
Land with a verified and recognized title appreciates in value and is easier to resell or use as collateral for financial transactions.
How to Verify Land Titles in Lagos
- Conduct a search at the Lagos State Land Registry.
- Engage professionals like real estate lawyers and surveyors.
- Verify with the Lagos State Surveyor General’s Office.
- Confirm the status of the land with relevant government agencies.
Conclusion
Buying land in Lagos is a significant investment, and verifying the land title is a non-negotiable step to ensure security and peace of mind. Always conduct thorough due diligence and seek expert guidance to avoid pitfalls in the land acquisition process.
For expert real estate services and verified land deals in Lagos, contact Landwell Investment Limited today!