Property ownership and title verification is one of the most critical steps in the property acquisition process, especially in Lagos, where real estate transactions are highly dynamic. Verifying a property title ensures that you are dealing with a legitimate owner and that the property is free from encumbrances or legal disputes. This guide explains the essential steps to verify a property title in Lagos to protect your investment.
Step 1: Understand the Importance of Title Verification
Why Verify Property Titles?
Verifying a property title helps to:
- Confirm legal ownership.
- Avoid fraudulent transactions.
- Ensure the property is free from encumbrances such as mortgages, liens, or government acquisitions.
Risks of Skipping Verification
Failure to verify a title can lead to:
- Financial losses.
- Legal disputes.
- Eviction by rightful owners or authorities.
Step 2: Identify Key Property Documents
Essential Documents for Verification
The following documents are crucial for verifying property titles in Lagos:
- Certificate of Occupancy (C of O): Confirms legal ownership and rights to occupy the land.
- Deed of Assignment: Details the transfer of ownership from one party to another.
- Survey Plan: Defines the property’s exact location and boundaries.
- Governor’s Consent: Ensures the transaction has been approved by the state government.
- Receipt of Purchase: Serves as proof of transaction between the buyer and seller.
Step 3: Conduct Searches at Relevant Authorities
Lagos State Land Registry
Visit the Lagos State Land Registry to:
- Verify the authenticity of title documents.
- Check for encumbrances or disputes.
- Confirm the property’s ownership history.
Surveyor General’s Office
Conduct a search at the Surveyor General’s Office to:
- Confirm the accuracy of the survey plan.
- Ensure the property is not on government-acquired land or under reservation.
Corporate Affairs Commission (CAC)
For properties owned by companies, verify the company’s status and ownership at the CAC. This step ensures the seller has the authority to transfer ownership.
Step 4: Engage Professionals
Hire a Property Lawyer
A property lawyer will:
- Review all documents for authenticity and accuracy.
- Conduct searches at relevant registries.
- Advise you on potential legal risks.
Work with a Licensed Surveyor
A licensed surveyor ensures that:
- The property boundaries match the survey plan.
- There are no encroachments or overlapping claims.
Step 5: Verify the Seller’s Identity
Confirm Ownership
Ensure that the seller is the rightful owner of the property by:
- Matching the name on the title documents with their identification.
- Requesting proof of ownership, such as utility bills or tax receipts.
Avoid Middlemen Risks
Dealing directly with the property owner minimizes the risks of fraud or misrepresentation by middlemen.
Step 6: Check for Encumbrances
Encumbrance Search
Verify that the property is free from:
- Mortgages or loans.
- Legal disputes or court injunctions.
- Government acquisition or land-use restrictions.
Tax Clearance
Ensure all property taxes have been paid to avoid inheriting liabilities.
Step 7: Obtain Governor’s Consent
Legal Requirement
Under the Land Use Act, any transfer of land in Lagos requires the Governor’s Consent to be legally binding. Failure to obtain this consent invalidates the transaction.
Application Process
Work with your lawyer to apply for the Governor’s Consent, ensuring all required documents are submitted and the fees are paid.
Step 8: Finalize the Transaction
Draft a Deed of Assignment
Your lawyer will prepare a Deed of Assignment, which:
- Transfers ownership from the seller to you.
- Serves as proof of your legal rights to the property.
Register the Property
Register the property at the Lagos State Land Registry to formalize ownership and protect your interests.
Final Thoughts
Verifying a property title in Lagos is a meticulous but essential process to ensure a secure real estate transaction. Skipping any step could result in financial losses or legal challenges. By engaging professionals and conducting thorough searches, you can confidently proceed with your property investment.
Remember, investing in real estate is a significant decision that requires due diligence and expert guidance. Protect yourself by verifying every detail before committing to a purchase.
Call to Action
Need help verifying a property title in Lagos? Chaman Law Firm is here to guide you through every step of the process. Our expert property lawyers ensure your investment is safe and secure by handling all aspects of title verification and documentation. Contact us today via email at chamanlawfirm@gmail.com or call us on +234 8065553671 or +234 8096888818. Let’s help you make the right property decision!
