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6 Key Documents to Protect Your Property When Buying: How to Protect my Property

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Key Documents to Protect Your Property When Buying

Key Documents to Protect Your Property When Buying. Let us look at some important documents that you would need. These title documents are relevant in any land/ property ownership or real estate transaction in Nigeria. These documents are necessary for proper verification of ownership by the appropriate government agencies in charge of lands and real estate matters in Nigeria.

Key Documents to Protect Your Property When Buying

Listed below are six (6) basic documents you cannot do without. Although, in most cases, you may not need to have all of them in a particular transaction but each of them are necessary documents:

1. Certificate of Occupancy (C of O)

2. Deed of Assignment/Conveyance

3. Governors Consent

4. Excision and Gazette

5. Approved Survey Plan

6. Land purchase receipt

A Brief Explanation of Each of These Documents:

1. Certificate of Occupancy (C of O)

Key Documents to Protect Your Property When Buying

Certificate of Occupancy as a key documents to protect your property when buying, is regarded as the most important land title document used to certify the legal and ownership status of any land in Nigeria.



It is a land document given by the Federal government (Federal C of O) or State government (State C of O) which officially leases any land under the state to the applicant for 99 yrs.

Here are seven reasons why the Certificate of Ownership is important for anyone buying or selling property in Nigeria:

  1. Proof of Ownership: The Certificate of Ownership is the most important document that proves the ownership of a property. This document provides the legal proof of the transfer of ownership rights from one person to another.
  2. Legal Protection: The Certificate of Ownership protects the owner’s rights and interests in the property. It serves as legal evidence in any court of law in the event of a dispute over the ownership of the property.
  3. Access to Financial Assistance: A Certificate of Ownership is a requirement for accessing financial assistance from financial institutions. If you are looking to secure a loan against your property, the Certificate of Ownership is a key document that lenders will require.
  4. Facilitates Sale and Purchase of Property: The Certificate of Ownership is a necessary document when buying or selling a property. This document serves as proof of ownership and is required for any transactions related to the property.
  5. Increases the Property’s Value: A Certificate of Ownership increases the value of a property as it is a tangible document that proves the owner’s rights and interests in the property.
  6. Helps to Resolve Disputes: In case of any disputes over the ownership of a property, the Certificate of Ownership can help resolve the dispute by serving as legal evidence in a court of law.
  7. Facilitates Property Development: The Certificate of Ownership is required for any property development activities, such as renovations, additions, or subdivisions. This document helps to ensure that the property is legally owned by the person undertaking the development activities.

In conclusion, the Certificate of Ownership is a crucial document for anyone buying or selling property in Nigeria. It serves as proof of ownership, protects the owner’s rights and interests, and is required for accessing financial assistance and property development activities.

2. Deed of Assignment/Conveyance

Apart from the Certificate of Occupancy (C of O), the deed of assignment/conveyance is the most recognized document with matters related to land and property sales in Nigeria. A deed of assignment should contain the names and descriptions of the parties involved in the transaction, detailed description of the property history, agreed purchase price, acknowledgment of payment etc.

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The deed of assignment must be demanded and given to a buyer after the conclusion of a land or property transaction between the buyer and the seller (owner). It is imperative for a Deed of Assignment document to be recorded at the land registry to show legal evidence as to the exchange of ownership in any land/landed property transaction in order to make the government aware of such transactions.

Here are 2 reasons why the Deed of Assignment/Conveyance is important apart from Evidence of ownership, Legal protection, Facilitation of financing, Protection of property rights:

  1. Ability to sell or transfer property: The Deed of Assignment/Conveyance allows the buyer to sell or transfer ownership of the property, should they wish to do so, as they now have legal proof of ownership.
  2. Clarity and transparency: The Deed of Assignment/Conveyance provides clarity and transparency in the ownership and transfer of the property, ensuring that all parties involved have a clear understanding of their rights and responsibilities.

3. Governors Consent

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Governor’s consent as a key documents to protect your property when buying, is the approval that must be given by a governor of a state or his delegate in any transaction that has to do with the transfer of ownership or other interest over land or built up, property in order to make the transaction valid by law.

If you purchase a land which was been previously owned then a Governor’s consent is needed to validate such transaction since the Certificate of Occupancy (CofO) on any given parcel of land cannot be replicated or transferred to another person.

Here are the six key importance of having a governor’s consent in real estate:

  1. Proof of Ownership: Governor’s consent serves as proof of ownership of a property and can be used to resolve any disputes that may arise regarding ownership.
  2. Legal Protection: Having a governor’s consent ensures that a property transaction is legal and protects the buyer and the seller from any legal repercussions.
  3. Aids in Property Transfer: The governor’s consent helps to transfer ownership of a property from one individual to another in a legal and binding manner.
  4. Evidence of Proper Approval: Having a governor’s consent serves as evidence that the purchase or transfer of a property has been approved by the state government.
  5. Prevents Forgeries: The governor’s consent acts as a security measure against forgeries and other forms of property fraud.
  6. Increases Property Value: The governor’s consent is a sign of approval from the state government and can increase the value of a property. A property with a governor’s consent is seen as more secure and valuable compared to one without.

In conclusion, having a governor’s consent is an essential document for anyone looking to buy or transfer a property in Nigeria. It helps to protect the buyer, the seller, and the property and ensures that the transaction is legal and binding.

See property page Waterfront plot in Orange Island Estate

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4. Excision and Gazette

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When buying properties from new towns like Ibeju-Lekki, and environs where a Certificate of Occupancy (C of O) may not be available, an excision or a gazette publication showing family ownership from the state government is a document that can be verified from the ministry of lands and Lagos state NTDA (New Town Development Authority).

(i) Excision is a document showing a portion or portions of land released to the ingenious villagers or family by state or federal government. When a land is excised, it becomes legally free from government acquisition.

(ii) Gazette is a document or publication authenticating that a portion of land has been excised. It is simply an official statement in a paper publication which shows the portion of land released to a family.

Excision and Gazette are important real estate documents that serve several crucial purposes for property owners in Nigeria. Here are six key reasons why:

  1. Legal Recognition: Excision and Gazette are official government documents that legally recognize a property as belonging to a specific owner. This gives the owner a sense of security and protection, knowing that their ownership of the property is recognized by the government.
  2. Evidence of Ownership: The Excision and Gazette documents serve as concrete proof of ownership of the property. This can be important when selling or transferring ownership of the property to someone else.
  3. Validity of Title: Excision and Gazette documents validate the title of the property, confirming that the owner has a legitimate and legally recognized claim to the property.
  4. Protection against Land Grabbing: The documents can protect against land grabbing, where someone tries to claim ownership of the property through fraudulent or illegal means.
  5. Easier Sale or Transfer of Ownership: If the Excision and Gazette documents are in order, it makes it easier for the owner to sell or transfer ownership of the property to someone else.
  6. Reduction of Legal Challenges: Having the proper Excision and Gazette documents in place can help reduce the risk of legal challenges to the ownership of the property. This can save the owner time and money in potential legal disputes.

5. Approved Survey Plan

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This land document shows the boundary measurements of a parcel of land to give an accurate measurement and description of that land. It reveals the true ownership status in any properties’ transactions. It also helps to reveal if such land is under the government’s acquisition or committed for future project(s).

Here are 5 key benefits of having an Approved Survey Plan:

  1. Legal Validation: The Approved Survey Plan is a legal document that provides proof of ownership and location of a property. It serves as a reference for any disputes or legal issues that may arise in the future.
  2. Boundary Verification: The Approved Survey Plan accurately defines the boundaries of a property, ensuring that there is no overlap or disputes with neighboring properties.
  3. Development Planning: The Approved Survey Plan is used by developers and contractors to plan and execute construction projects. It helps to avoid errors and ensures that all developments are carried out within the designated boundary of the property.
  4. Property Value Assessment: The Approved Survey Plan is used by real estate agents and property valuers to assess the value of a property. It provides information on the location, size, and boundaries of the property, which are important factors that impact the value of a property.
  5. Tax Assessment: Approved Survey Plans are used by local authorities and governments to assess taxes on properties. Having an accurate Approved Survey Plan ensures that taxes are accurately assessed and paid.

6. Land purchase receipt

Key Documents to Protect Your Property When Buying

This type of document is important in the event that you purchased a land that is family-owned. Please, ensure you contact the family lawyer and request to be issued a receipt (family receipt) after payment.

Here are five reasons why this document is so important:

  1. Evidence of Payment: The land purchase receipt serves as evidence that the buyer has made a payment for the property. This is especially important if there is a dispute over the payment in the future.
  2. Proof of Ownership: A land purchase receipt is evidence that the buyer has acquired ownership of the property. This can be useful in case the buyer needs to prove their ownership to a third party.
  3. Legal Protection: The land purchase receipt provides legal protection for both the buyer and the seller. In case of a legal dispute, this document can be used to show that the property has been sold to the buyer and the seller is no longer responsible for it.
  4. Transfer of Ownership: A land purchase receipt is necessary for the transfer of ownership of a property from the seller to the buyer. Without this document, the transfer of ownership cannot be completed.
  5. Record Keeping: The land purchase receipt is an important document for keeping records of property transactions. This can be useful for tax purposes, for future reference, and for financial planning.

In conclusion, a land purchase receipt is an essential document when buying property in Nigeria. It provides evidence of payment, proof of ownership, legal protection, and helps in the transfer of ownership, and serves as a record of the transaction.

Conclusion

Finally, it is essential for anyone looking to purchase real estate in Nigeria to make sure that they safeguard their investment by obtaining the necessary key documents.

This includes a title deed, survey plan, and other relevant certificates that serve as proof of ownership and legality. These papers give the buyer peace of mind while also aiding in the protection of the property from legal issues.

It is advised to work with a reputable real estate firm, like Future Home Properties when purchasing a home in Nigeria so they can help you navigate the process and make sure you have all the important paperwork.

These key documents to protect your property when buying aids proper documentation which is essential for protecting your property, protecting your investment, and reaping the benefits of property ownership in Nigeria.

Need help purchasing properties with verifiable documentation? Quickly call us or chat with us on our social media pages.

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