1. Investigation of property;
The very first stage in buying property is the investigation of the title of the property presented by the agent.The Purchaser’s solicitor proceeds to investigate if there are not any defects in the stated name to the property. The investigation involves several searches at various registries where records of properties are kept. Searches may be conducted in the following places-
- Search at the Lands Registry – This varies from one State to another. In Lagos State, such search may be conducted at Land Registry, Alausa Ikeja Lagos in accordance with the provisions of the Land Registration Law of Lagos State 2015.
- Charting at Surveyor General Office: where any property to be purchased cannot be searched at the land registry to the fact that the property is yet to be registered, the purchaser, through its solicitors, may apply for charting of the land at the Surveyor General Office. The charting will reflect whether the land falls under any government acquisition or not. A land already registered would have ordinarily passed through this process, and there may not be any need to further conduct charting at Surveyor General Office.
- Search at the Corporate Affairs Commission (CAC) – This occurs where previous owner is a business incorporated under Companies and Allied Matters. there ought to be an additional search at the CAC to disclose whether or maybe not there is any impediment at all on the property.
- Physical Inspection – This is a visit to the property in order to discover if there is any problem with the property, or perhaps to determine the real dimensions of the land and whether it conforms to the dimensions on the survey plan.
- Traditional Evidence – This is accomplished by investigating or maybe verifying from the principal members of a family unit or perhaps from the community and heads of the town in which the property is actually subject to family members or even community ownership. It is essential to confirm that all pertinent consents have been received from appropriate persons before sale.
2. Deeds of Assignment;
The deed of assignment is the conveyance of the property from the seller to the buyer.The Deed of Assignment may be prepared by the purchaser’s solicitor and vetted by the agent or the solicitor of the agent and vetted by the purchaser’s solicitor. Then the documents will be signed by parties and their witnesses. The next step is for the agent to submit all original documents relating to the title of the land to the purchaser.It is important that you be aware that the Deed of Assignment is actually to be accompanied with the survey of the property in question as these are needed for the registration of the property, which will be the next stage.
3. Registration stage;
It is compulsory that every deed of assignment contain a consent of the governor of the state in which the land/property sold is actually situated. Upon the transfer of the property by the seller to the purchaser, the new buyer must register the property with the government to complete the transactions. Registering properties in Nigeria includes process, which involves obtaining the governor’s consent, payment of stamp duties and registration of assignment or conveyance at the Lands Registry of a state. This is required in order to ensure compliance with pertinent statutes and defend the legal validity of the purchaser’s name to the property.
4.Applications for governor’s consent;
The purchaser should endeavor to ensure that the seller signs the application letter for consent, since it’s the duty of a holder of the right of occupancy to seek consent of the Governor. A clause may also be included in the contract of sale mandating the seller to ensure this is signed whenever it is required by the purchaser
5. Registration of property tittle;
The registration of property otherwise called perfection of title is the process by which a purchaser informs the government of its interest in particular land.The documents transferring title of land from one person to another are actually register-able instruments and failure to so register them would render them inadmissible as an evidence of property transfer in any court proceedings.
