how to register deed of assignment in lagos

Milton and Cross

Commercial Solicitors

3 Important things you need to know about Deeds of Assignment in Nigeria

Deeds of assignment are an important part of any land transaction in Nigeria. It acts as the main record of the transaction between the Seller and the Buyer. The Deed of Assignment transfers legal ownership of the property to the Buyer. This is distinct from a Contract of Sale, which merely transfers equitable ownership to the buyer.

Where a seller delivers a Deed of Assignment to the Buyer, the law assumes that the purchase price has been paid, and other necessary conditions have been fulfilled by the parties. The Seller cannot later say that he did not receive the purchase price.

Do you have a contract to sign?

Let’s help you review it!

Key elements of A Deed of Assignment

T he property’s legal owner must sign the deeds of assignment.

A Deed of Assignment of Land must be executed by the Legal Owner of the property. Legal title is the actual ownership of the property. Legal title grants true ownership of the property, along with the bundle of rights that comes with land ownership.

A simple search at your state lands registry can help you identify the title holder. We recommend that you do this search as part of your due diligence process. This saves you stress in the future.

To register your title, you must have filed an application for Governor’s Consent with your State Lands Registry. In some situations, a seller may be eligible to apply for a Certificate of Occupancy.

Where a seller has not registered his title with the State Government, he/she can only transfer equitable title to the property. This means that the Legal title still resides in the last person who registered their title with the state.

A Rule of Thumb: If the seller is not the registered title holder, they cannot sign the Deed of Assignment

You must do your due diligence beforehand

Generally, the law expects a buyer to physically inspect the property he wants to purchase. He should also verify the title documents. A seller can only transfer his/her rights to the buyer. This means that if there are any limitations to their rights, those limitations will be passed on to the buyer. This can be quite infuriating.

This process should tell you whether you are buying the land from the right person, if there is any encumbrance on the land (such as an unpaid mortgage) or whether the land is suitable for your purposes. Facts discovered during the search process may affect your negotiations with the seller.

Recitals are Important

Recitals can make or break your Deeds of Assignment. This is because the root of title has to be clearly outlined and traceable within the recital. You must always ensure that there are no gaps in the chain of title between past owners of that property and the seller. Furthermore, any errors in your recital may lead to lengthy and costly litigation in the future. You could also experience immense frustration when trying to register your title with the government.

There is a widely-held perception that the recitals are legally inconsequential, since their role is fundamentally ‘scene-setting’ in nature and they do not automatically form part of the operative, legally binding agreement between the contracting parties. However, when a dispute arises and a court or arbitrator has to decipher the contract, the recitals may aid interpretation. They are, after all, clearly a part of the written contract in some way or other.

Milton & Cross Solicitors provides transaction advisory, due diligence and contract drafting services to individuals and businesses. We are always happy to assist you in coordinating and negotiating effective Deeds of Assignment.

Contact us to schedule a consultation

2 thoughts on “ 3 Important things you need to know about Deeds of Assignment in Nigeria ”

• Pingback: What does a Deed of Assignment mean in Real Estate Transactions? - Milton and Cross
• Pingback: What does a Deed of Assignment mean in Real Estate Transactions? - MILTON & CROSS REALTY AND HOMES

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

+2348099223322

[email protected]

PERFECTION OF TITLE OF LAND IN LAGOS NIGERIA

Introduction.

The perfection of Title in Lagos State simply means registering an interest in a property with the government.

When purchasing a property in Lagos or elsewhere in Nigeria, it is statutory for the buyer of the property to obtain proper title register the said property with the government.

The major governing the registration of properties in Nigeria is the Land Use Act of 1978. Section 22 of The Land Use Act states that;

“ it shall not be lawful for the holder of a statutory Right of Occupancy granted by the Governor, to alienate his Right of Occupancy or any part thereof by assignment, sublease etc. without the prior consent of the Governor ”

What this implies in simple language is that even if a property has a Certificate of Occupancy, which makes the beneficiary the legal interest holder on the land, if he decides to resell the property, since the land is held in trust by the State Government, the Governor needs to approve that transaction. Otherwise, the title that will be transmitted is not perfect and it means that the final authority on landed matters is not aware of the transaction as mandated by the Land Use Act of 1978.

For many, buying a piece of land or real property is all about finding a vendor willing to sell and meeting the price for the property. Many people fall into the mistake of dealing with vendors of properties in trust, assuming that the fact that they have known one another for donkey years or the fact that an agent has assured them of good title is sufficient to avoid future troubles with respect to the land or real property.

It is of paramount importance to take certain steps prior to the purchase of land, or land with structure during the course of purchase and even after the purchase has been made for the sake of securing one’s interest in the said property.

A willing purchaser as a matter of importance must investigate the title of the vendor to the said land and in some cases the track record of such vendor in order to forestall any future legal issues.

Prior, to the perfection of title, there are various steps to follow when purchasing a real in Lagos, which shall be briefly discussed below. 

PRELIMINARIES

At this stage parties (vendor and purchaser) meet and discuss on the property: price, mode of payment, nature of vendor’s title etc. After parties have agreed on the purchase price a Contract of Sale Agreement is drawn up pending when the Purchaser would carry out investigation to deduce the nature of the Vendor’s title to ascertain that the property truly belongs to the Vendor and is free of any encumbrance.

At the point where the contract is exchanged the vendor is deemed to hold the land in trust for the purchaser till he pays, and all conditions therein fulfilled. The essence is to deduce a good root of title from the vendor. Until the execution of the contract of sale, there is no obligation on the vendor to establish that he is the owner of the title which he intends to convey, but once the contract has been exchanged, he is under duty to do so. The Contract of Sale Agreement may include terms as agreed by parties. It is not unusual for parties to agree to a deposit on the total value of the property at this point pending the result of the investigation of title by the purchaser.

INVESTIGATION OF TITLE STAGE After the execution of the contract, the purchaser would collect title documents from the vendor. These documents should be sufficient in themselves without any extrinsic evidence to establish the title to the land. Such documents may include Certificate of Occupancy, Deed of Assignment/Conveyance, Survey Plan, Registered Title, Court Vesting Order etc.

Once the relevant documents (usually copies) have been obtained from the vendor, the Purchaser’s solicitors proceed to carry out an investigation to confirm the vendor’s title and to ascertain that there are no defects in the said title to the property. The investigation involves several searches at various registries where records of properties and encumbrances are kept. Searches can be conducted in the following ways –

•  Search at the Lands Registry  – The Land Instrument Registration Law of each State establishes a land registry for the State, where documents relating to land within the territory are kept, and it varies from one State to another.

•  Search at the Corporate Affairs Commission (CAC)  – This is necessary where the vendor or past owner is a company incorporated under Companies and Allied Matters Act. Apart from the searches at the land registry, there should be a further search at the CAC to reveal whether or not there is an encumbrance or any charge whatsoever on the property. 

Companies are required to file annual returns yearly with the CAC which is always accompanied with a company’s financial statement; the financial statement will reveal the company’s assets (where there are any) as well as any charges or encumbrance on same.

•  Search at Probate registry  – This is a search conducted to reveal whether or not probate has been granted on any estate and to ascertain the personal representatives or executors of a testator in cases of properties belonging to the estate of a deceased. Without a grant of Probate and/or letters of administration, the vendors do not possess the requisite authority to sell the property of a deceased person.

•  Traditional evidence  – This is done by investigating or verifying from the principal members of a family or from the community and heads of the community where the property is subject to family or community ownership. It is crucial to verify that all relevant consents have been obtained and that the title is neither void nor voidable.

•  Court judgments  – This is a search conducted to see if the land is subject to any court litigation, and if any, the outcome of the dispute; or whether the vendor is a personal representative or beneficiary in a probate dispute which entitles him to convey the property.

•  Physical inspection  –  This is a personal visit to the property in question in order     to find out if there is any issue with the property, or to ascertain the actual size of the land and whether it conforms to the dimensions on the survey plan at the Lands registry.

In addition to the above, investigation of real property could take a different turn depending on the type of property and the caliber of persons involved in the transaction. For instance, due to the recent development of collapsed and collapsing buildings in Lagos State, it is advisable for clients who are looking to purchase high rise buildings to request for profiles of the developers of the property, certificate of structural integrity/stability, kind of foundation on which the building is erected etc.

For properties located in choice areas which cost large sums of money, it may not be out of place to investigate the profile and record of the vendors to ascertain such persons are not on the watch list of agencies such as the Economic and Financial Crimes Commission, the ICPC or whether the property in question is not a subject of any investigation. This would prevent the risk of confiscation of the property by the Federal Government or any anti-corruption agency. 

DEED OF ASSIGNMENT STAGE

After the purchaser, through his solicitor has ascertained that the vendor has a good title to the land, the next stage is the preparation of a Deed of Assignment/Conveyance and execution of same by the parties with respect to the property to be sold.

The Deed of assignment can be prepared by the purchaser’s solicitor and vetted by the vendor or his solicitor after which several copies would be produced (usually called engrossed copies) then the documents would be executed by parties and their witnesses. At this stage any outstanding sum or balance would be paid by the Purchaser.

After this, the Vendor shall submit all original title documents to the purchaser and in the case of an already developed property shall hand over the keys to the purchaser. In the event that there are tenants in the property this would be the appropriate time to introduce the new owner of the property to the tenants usually via a notice.

It is important to note that the Deed of Assignment is to be accompanied with the survey plan of the property in question as these are part of the documents required for perfection of title which is the next stage.

It is compulsory that every deed of assignment contain a consent section for the governor of the relevant state where the land/property sold is situated.

PERFECTION STAGE

Many people who are oblivious to legal requirements usually think that after executing deeds of assignment or conveyance as the case may be that they have done all that is required of them and continue to enjoy their newly acquired property. However, there is still a lot more to be done to “perfect” the title to the newly acquired land. These include application for Governor’s consent, payment of stamp duties and registration of conveyance or assignment at the Lands Registry. This is done in order to ensure compliance with relevant statutes and protect the legal validity of the purchaser’s title to the property.

APPLICATION FOR GOVERNOR’S CONSENT;

There are two types of Governor’s approval when it comes to landed property transactions. One is the approval to transfer part or all of a seller’s interest in the landed property to a third party and the other is the consent to mortgage. The latter is usually required when pledging a property as security for a credit facility.

The Land Use Act prohibits alienation of statutory right of occupancy without the consent of the Governor. It makes it mandatory for the holder of a statutory right of occupancy to seek and obtain the consent of the Governor of the State where the land is situated before alienation or sale of interest in land, otherwise the transaction shall be void. Where the property however is subject to a customary right of occupancy, the consent required is that of the local government where the land is situated.

The purchaser should always endeavor to make sure the vendor signs the application letter for consent, this is because it is the duty of a holder of the right of occupancy to seek consent of the Governor to alienate.

Below are the essential documents needed to obtain a Governor’s Consent in Lagos State and by implications to perfect a title to land:

• A duly completed application made on Land Form 1C which must be dated and signed by the parties to the transaction and sworn to before a Magistrate or Notary Public.
• A cover letter from the Solicitor/Applicant filing the application for Governor’s consent.
• A certified original copy of the Title document of the property.
• The charting fee, endorsement fee and Form 1C made payable to the Lagos State Government.
• Four copies of the Deed of Assignment with survey plans attached in each copy.
• Photograph of the property.
• A current tax clearance certificate of the parties involved in the property transaction.

All these documents are to be forwarded to the office of the Surveyor General for charting. If there are no defects in the survey plan, a clean report is sent to the Lands Bureau and a demand notice is issued to the applicant for the following fees, which are percentages of the assessed value of the property. The following fees are paid via bank draft in the name of Lagos State Government and for which receipts will be issued to the applicant in furtherance of the process below:

• Consent fees of 1.5%
• Capital Gains Tax of 0.5%
• Stamp Duty of 0.5%
• Registration fees of 0.5%

Currently, the entire process of getting approval and perfecting a title in Lagos State takes at least three months to conclude if all assessment and required fees are paid as quickly as possible and there are no queries or defects in the file/documents of the applicant. However, the State Government has a set target period of 30days.

Listed below are the steps an applicant will need to take in perfecting a land title in Lagos State:

1.   Application & accompanying documents are to be received at the Land Bureau from the Applicant.

2.  Application is uniquely referenced for identification purpose at the Lands Bureau.

3.  Investigation of the status of the land through charting will be done at the office of the Surveyor General.

4.  Assessment of Property to determine applicable fees by officials of the Lands Bureau.

5.   Issuance of Demand Notices at the Accounts Office at the Lands Bureau.

6.  Applicant pays and forwards treasury receipts of payment of fees to the Accounts Department.

7.  Approval & endorsement of documents by the Governor or Commissioner.

8.   Stamping of documents at the Lands Bureau.

9.    Registration of documents at the Lands Registry.

10.    Collection of all registered documents by the applicant at the Lands Bureau.

CONCLUSION Registration or perfection of title is done in order to avoid fraud and problems arising from the suppression or omission of instruments when title is deduced, in case of subsequent transactions it would show a registered interest in the said property. 

While registration does not cure any defects to title to property, it is important to register such documents as they are documents affecting land in which one party confers, transfers, limits, charges or extinguishes in favour of another party a right or title to or interest in land.

Documents transferring title to land are registerable instruments and failure to so register them would render them inadmissible in court.

By Real Estate Law Team at Resolution Law Firm

Email: [email protected]

Share This Story, Choose Your Platform!

Related posts, steps for buying property in lagos nigeria, procedure to obtain a police clearance certificate in nigeria, overview of product liability in nigeria,  registration of capital market operators in nigeria, ncc issues guidelines on national roaming, infrastructure sharing, subscription for updates from us.

• Our Properties
• Godsland Soldiers
• Customer Reviews

What You Need to Know about Deed of Assignment When Buying Real Estate in Lagos

• October 30, 2023
• Emenike Emmnauel
• Category: Buy a Property , Sell a Property

Let’s talk about deed of assignment if you are ready to become a proud property owner in Lagos, Nigeria. 

We know it’s an exciting journey to finally acquire that dream property in Lagos. Still, you need to get all the knowledge you can get, so that you can be fully prepared for the journey ahead. 

In this blog post, we’ll explain a term you might have heard – the “Deed of Assignment.” We’ll also show you why D of As are absolutely important, for you as a property owner in Lagos. Don’t worry; we’ll explain it in everyday language, so you can understand it well.

What is a Deed of Assignment?

In Lagos real estate, you’ll often encounter the term “Deed of Assignment.” But what does it really mean?

In simple terms, it’s a legal document that transfers property ownership from the current owner to you. It’s your way of officially claiming that dream property in Lagos. Think of it as your key to your new home. This document acts like a contract, recording the agreement between the current owner (assignor) and you, the new owner (assignee). It confirms that the property is now in your name, with all its associated rights and responsibilities.

Why Do You Need a Deed of Assignment?

Now, let’s explore precisely why a Deed of Assignment is essential in your path to property ownership in Lagos .

1. Legal Proof

The Deed of Assignment is your formal proof of property ownership. It is a legal document that states you are the rightful owner. Just like your passport proves your identity, this document confirms your property rights, protecting your interests.

2. Transaction Validation

In the world of real estate, rules and regulations matter. The Deed of Assignment ensures that your property transaction is lawful. It verifies that all legal and regulatory requirements have been met, preventing potential legal issues down the road.

3. Security

Think of the Deed of Assignment as a security lock on your property. With this document, your property rights are securely established. It shields you from disputes and grants you peace of mind, allowing you to enjoy your new home without worry.

4. Resale and Inheritance

If you wish to sell your property or pass it on to your heirs, the Deed of Assignment is crucial. It simplifies the process, ensuring a smooth transition of property rights, whether for future sale or inheritance. 

Thus, the Deed of Assignment serves as your formal declaration of property ownership. It ensures that you’re on solid legal ground in your property ownership.

• Top 25 Real Estate Terms in Nigeria and Their Meanings
• Why Young Nigerians Like You are Rushing to Buy Lands in Epe
• What is the Best Land Title in the Lagos Real Estate Market and Why?

What to Look Out For in a Deed of Assignment

Understanding the contents of a Deed of Assignment is crucial for a smooth property transfer. Here are the primary components you’ll find in this document:

1. Property Details

This section specifies the property being transferred, including its address, size, boundaries, and any relevant land registration information.

2. Parties Involved

The Deed of Assignment identifies the key players in the transaction. It names the assignor (the current property owner) and the assignee (the new owner) with their full legal names, contact information, and any additional parties involved.

3. Purchase Price

The purchase price is the agreed price the buyer is to pay for the property. Indicating it in the Deed of Assignment shows transparency and legal compliance. It is a vital detail in any property transaction.

4. Transfer Conditions

This section outlines the specific terms and conditions of the property transfer. It might detail obligations, restrictions, or any other factors both parties must follow throughout and after the transfer.

5. Signatures and Witnesses

To make the Deed of Assignment legally binding, both parties, along with witnesses, sign the document. The witnesses provide verification that the signing parties are who they claim to be, adding an extra layer of authenticity.

6. Date of Transfer

This specifies the official date on which the property changes ownership. It’s a crucial detail, marking the beginning of your property ownership.

Additional components may include information on any outstanding property taxes, utility bills, or encumbrances on the property. These elements are essential to ensure a comprehensive and legally sound Deed of Assignment.

In the next sections, we’ll explore the process of obtaining a Deed of Assignment and common issues to be aware of during the property transfer.

The Process of Executing a Deed of Assignment in Lagos

• Investigating the Property: Before any transaction, you must conduct a thorough investigation of the property. This includes verifying its title, confirming the seller’s legal ownership, and ensuring that the property is free from encumbrances or disputes.
• Drafting the Deed: Once you’re certain about the property’s legitimacy, it’s time to draft the Deed of Assignment. This document should be prepared by a legal professional and include all the necessary details we discussed earlier.
• Signatures: Both the assignor (current property owner) and assignee (new property owner) must sign the Deed of Assignment in the presence of witnesses. It’s a formal agreement that needs to be properly executed.
• Payment of the Stamp Duty: In Lagos, you’ll need to pay a stamp duty on the Deed of Assignment. This fee varies depending on the property’s value and is essential for legal compliance. Ensure you pay the required amount for you. 
• Registration: After payment, the Deed of Assignment should be registered with the appropriate land registry or government authority. This step ensures that the transfer is legally recognized.
• Delivery: The Deed of Assignment should be delivered to the assignee, completing the property transfer.

Common Issues Property Buyers Face and How to Avoid Them

During the property transfer process, there are common issues that property buyers should be aware of. By understanding these challenges, you can navigate your way more smoothly. Here are some potential hurdles and how to avoid them:

• Incomplete Documentation: Sometimes, the necessary documents may be incomplete or missing. To avoid this issue, work with a reliable legal professional who can ensure all documents are in order.
• Disputes Over Property Ownership: In some cases, disputes may arise over property ownership. Make sure you verify the property’s title, and ensure the seller has clear legal ownership.
• Unclear Transfer Conditions: Ambiguity in the Deed of Assignment can lead to misunderstandings. To avoid this, carefully review and clarify the transfer conditions to protect your interests.
• Failure to Register: Failing to register the Deed of Assignment with the appropriate authority can render the transfer invalid. Ensure the registration is completed promptly to avoid complications.
• Lack of Legal Guidance: Property transactions involve complex legalities. It’s crucial to seek legal guidance from a qualified professional to navigate the process successfully.
• Stamp Duty Non-Payment: Neglecting to pay the required stamp duty can result in legal issues. Make sure you fulfill this obligation promptly.

By being aware of these potential pitfalls and taking proactive steps, you can ensure a smoother property transfer process.

• Difference Between C of O and R of O: What You Should Know
• What is the Difference Between C of O and Governor’s Consent in Lagos?
• Basic Requirements for Getting a Physical Allocation of Your Property in Lagos

In conclusion, the Deed of Assignment is your gateway to secure property ownership in Lagos. It offers the legal protection and assurance you need in real estate transactions. To navigate this journey successfully, remember to prioritize compliance with legal obligations, including stamp duty payments and registration.

Seeking professional legal guidance is not just a recommendation but a crucial step to safeguard your interests and make your real estate aspirations a reality. Whether you’re a first-time buyer or an experienced investor, remember that legal support is your best ally in this significant endeavor.

Would you like to come for land inspection so as to buy land or house in Epe, Ajah, Lekki, Ibeju-Lekki, Lagos or anywhere in Nigeria? Reach out to us on +234 806 400 3456 or send an email to [email protected]. We are ever ready to assist you on your property ownership journey in Nigeria.

• Share on Facebook

How to Register Your Property in Lagos State

• On June 19, 2024
• In Real Estate Law

Is it compulsory to register your property in Lagos after the purchase? The answer is yes. In Nigeria, property registration is a requirement  after buying your choice property. 

While it’s important to register your property for obvious reasons, you may be dreading the seemingly complex and bureaucratic process involved in such registrations. 

Truly, the thought of going to various offices, filling out numerous forms, and ensuring all your documents are in order can be overwhelming.

But the good news is, if you’re buying property in Lagos, you don’t have to figure it out by yourself. 

Real Estate Clarity Session

Although you may need to involve qualified professionals to assist you along the way, we have outlined the step-by-step process of registering your property in Lagos State so you can get started as soon as possible. 

Where Do I Register My Property in Lagos? 

The main office responsible for property registration in Lagos is the Lands Bureau , which operates under the Ministry of Lands and Housing. 

The Lands Bureau is responsible for all land-related matters in the state, including the issuance of Certificates of Occupancy (C of O), processing of Governor’s Consent, and the registration of title documents.

The office is located at Lagos State Lands Bureau, Block 13, The Secretariat, Alausa, Ikeja, Lagos State.

In a broader sense, there are local government offices across Lagos State that handle property matters within their jurisdictions. 

However, for comprehensive registration services, the Lands Bureau remains the central and most important office to visit.

Also Read:  How We Help Nigerians Living Abroad to Purchase a Property in Lagos

How We Help Nigerians Living Abroad to Purchase a Property in Lagos

How to register your property in lagos: step-by-step process .

Registering your property in Lagos involves several steps that ensure the legal transfer of ownership and proper documentation. Here’s a detailed guide:

1. Obtain the Necessary Documents

The first step in registering your property is to gather all the necessary documents. These include:

• A completed application form (which you can get from the Land Bureau, 10,000 NGN for general land and 20,000 NGN for prime land). 
• Evidence of ownership (such as a deed of assignment)
• Survey plan of the property
• Land information certificate
• Payment receipts for relevant fees
• Evidence of payment of land use charge
• A tax clearance certificate of the applicant
• 3 passport photographs in white background 
• Identification documents (National ID, Passport, or Driver’s License)

The Land Bureau will demand these documents during the registration process. So, take your time to gather them and keep them handy. 

2. Get Your Land Information Certificate

Before proceeding with the registration, it is important to obtain a Land Information Certificate from the Surveyor-General’s office. 

This certificate provides essential details about the land and confirms that the property is free from government acquisition or any encumbrance.

3. Obtain Your Deed of Assignment

While you’re gathering your documents, you must also take steps to obtain a Deed of Assignment. 

This legal document transfers ownership of the property from the seller to the buyer and is a critical component of the registration process.

Also Read:  Read This Before Purchasing a Property Anywhere in Lagos

Read This Before Purchasing a Property Anywhere in Lagos

4. Apply for the Governor’s Consent

In Lagos State, obtaining the Governor’s Consent is mandatory for any land transaction. 

Plus, this consent is a legal requirement as stipulated by the Land Use Act of 1978, so you need to get it too. To apply for the Governor’s Consent, submit the following to the Lands Bureau:

• Duly completed Form 1C (Application for Governor’s Consent)
• Stamped Deed of Assignment
• Evidence of Payment of Charting Fee, Endorsement Fee, Form 1C Fee, and Consent Fee
• Survey Plan (with evidence of lodgement at the Surveyor-General’s office)

Application for C of O and Governor’s Consent

5. Charting and Endorsement

After submitting the application for the Governor’s Consent , the Lands Bureau will chart the property to ensure it conforms with the state’s land use regulations. 

This process involves checking the property coordinates and confirming that the land is not under government acquisition or encumbrances. After charting, the Deed of Assignment will be endorsed by the Governor.

6. Submission of Documents

When you have all your documents ready, the next step is to submit them to the Lands Bureau. 

It is advisable to make copies of all documents submitted and keep the originals safely.

7. Stamp Duty and Registration

After obtaining the deed of assignment and Governor’s Consent, the next step is to pay the Stamp Duty at the Federal Inland Revenue Service (FIRS). 

Once this is done, submit the stamped Deed of Assignment to the Land Registry for registration. The stamp duty is a tax levied on legal documents, and proof of payment is required for the registration to proceed.

8. Site Inspection and Verification

When you have submitted all the necessary  documents, the Lands Bureau will schedule a site inspection. 

They carry out this inspection to verify the details provided in your documents and to ensure that there are no discrepancies.

Also Read: At What Point Should I Involve a Lawyer When Buying a Property?

At What Point Should I Involve a Lawyer When Buying a Property?

9. Assessment and Payment of Fees

Following the site inspection, the Lands Bureau will assess the value of your property and calculate the registration fees. 

You will then be required to make the necessary payments, which may include processing fees, survey fees, and other statutory charges.

Some of the fees you will be required to pay include:

• Registration and conveyance fee: 3% of FMV (Fair Market Value) 
• Administrative charges: 1% of FMV
• Survey Fee: 5% of FMV
• Stamp Duty: 2% of the FMV
• Development charges: 3% of FMV

These fees may vary, so it is advisable to confirm the exact amounts from the Lands Bureau.

10. Final Registration and Issuance of Certificate of Occupancy

With all fees paid and documents in order, the Lands Bureau will proceed with the final registration of your property. 

Upon successful registration, a Certificate of Occupancy (C of O) will be issued in your name, officially recognizing you as the legal owner of the property.

Also Read:  7 Common Forms of Land Scams That Happen in Lagos

7 Common Forms of Land Scams That Happen in Lagos

Register Your Property in Lagos with Ease 

If you buy a piece of property in Lagos, the next step will naturally be to register it. And you may need to do so quickly as registering your property is a  step in securing your investment and ensuring legal protection. 

While the process may seem complex, following the step-by-step guide outlined above can simplify the procedure. 

It’s important to bear in mind that the property registration process will take some amount of time – between 3 to 6 months. So you need to patiently follow through with it to arrive at your goal in the end. 

As you go through the process, we recommend that you hire the services of qualified professionals, such as legal practitioners and surveyors, to help you manage the process more efficiently.

Real Estate Legal Consultation

Would you like to purchase, register or sell a property in any part of Nigeria and you need our legal support? Are you searching for the services of a genuine legal team that can assist you incorporate your business? Or you need a legal backbone for your company? Click here to book a session now and we will attend to you immediately.

Leave a Reply Cancel Reply

Your email address will not be published. Required fields are marked *

Name  *

Email  *

Add Comment  *

Post Comment

Related Posts

5 Common Legal Mistakes to Avoid When Buying a Property in Lagos

• Tosin omotosho
• June 20, 2024

The Role of Property Lawyers in Real Estate Transactions

• June 15, 2024

• List Your Law Firm
• Contact HG.org
• Find a Law Firm:

Procedure for Land Registration in Lagos Nigeria

WELCOME TO CHAMAN LAW FIRM - YOUR PREMIER LEGAL PARTNER IN NIGERIA - 08065553671

HOW TO PREPARE A DEED OF ASSIGNMENT IN NIGERIA

A deed of assignment is essential in Nigeria, as it transfers ownership of land or property from one party to the other.

5/11/2024 3 min read

A deed of assignment is essential in Nigeria, as it transfers ownership of land or property from one party to the other. It is used to transfer legal title and ownership to land from the assignor to the assignee for a consideration paid and accepted by the assignor. The assignor (the seller) and assignee (the buyer) are the parties to the deed of assignment, respectively (the purchaser).

REQUIREMENTS TO PREPARE A DEED OF ASSIGNMENT IN NIGERIA

When drafting a deed of assignment in Nigeria, it is crucial to obtain certain information from the parties involved since this information will help to establish the details of a document that will be enforceable in court. In other regions of the nation, the same requirements apply. Following are these specifics:

Particulars of the transaction’s participants (names, address, status). Day on which they transferred the property from the vendor to the buyer. The nature of the assignor’s (vendors’) title. Entire description/ specifications, including any fittings and fixtures of the property. The history of the property being transferred from the time it was initially obtained to the current moment of sale, including all preceding documentation. Details about a verifiable document the property bears.

The amount of money paid in a property transaction (buy price) and the vendor’s readiness to accept the price paid for the property. The nature of the transaction and the assignor’s capacity (vendor). Both parties to the transaction agree to keep the agreements. The parties’ signatures, as well as the signatures of the witnesses to the transaction, are necessary. Plan for the survey. Information about the lawyer who prepared the deed. The Governor’s assent must be signed and validated in this section.

WHAT IS THE PURPOSE OF THE DEED

In particular if you wish to purchase land, it is crucial to carefully discuss matters like these with your attorney for clarification. A deed is used to legally change the ownership of a piece of property or asset from one person or business to another.

WHO NEEDS TO SIGN A DEED OF ASSIGNMENT

The deed must be signed by both the assignor and the assignee(s), who must also check the appropriate box(es) for each signature. However, if two people own the policy and they are both joint tenants. Thus, both policyholders are required to serve as assignors.

HOW MUCH DOES THE DEED OF ASSIGNMENT COST IN NIGERIA

A Deed of Assignment can only be prepared by a lawyer in Nigeria.

To control the fees that lawyers charge for handling land matters, there is a scale of fees. However, given the crude nature of this scale of charges. Lawyers prefer to negotiate their percentage based on the value of the assets being purchased in real estate deals. This is due to the fact that they also provide them permission to enter into a simple contract for any services, including the creation of deeds.

The percentage that a lawyer may charge for creating a deed of assignment is based on a number of factors. Among these criteria are expertise or experience, as well as the cost of the prospective acquisition. To create a deed of assignment, the majority of lawyers in Nigeria normally charge between 5% and 10% of the price of the property.

WHO PREPARES THE DEED OF ASSIGNMENT

You should be aware of who is responsible for creating the assignment deed to prevent misunderstandings along the process. The deed of assignment is created by the assignee's attorney, who then gives it to the assignor (vendor) for approval and execution.

HOW TO REGISTER A DEED OF ASSIGNMENT IN NIGERIA

The process and methods for registering an executed deed of assignment in Lagos State or any other Nigerian jurisdiction essentially consist of three main parts: obtaining the governor's consent, stamping the deed, and registration.

NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact [email protected]

WRITTEN BY CHAMAN LAW FIRM TEAM

EMAIL: [email protected]

TEL: 08065553671, 08024230080

FOR PAYMENT

Account details:, zenith bank: 1218060909, chaman law firm, practice areas, our lawyers, our gallery, get a c ertificate of occupancy (cofo), get governor's consent, property for sale, register a company, register a trademark, legalization of document, notarization of document, get tax clearance certificate (tcc), get police character certificate (pcc), law reports, llm course materials, llm project materials.

2023, Chaman Law Firm. Copyright Right Reserved.

TEL: 08065553671, 08024200080, 08096888818

Email: [email protected] , [email protected], ogun state office, 5, olalekan ogunjobi street, havana estate, arepo, ogun state., lagos office, 115, obafemi awolowo way, allen junction, beside lagos airport hotel, ikeja, lagos state., abuja office, mangal plaza, 71, nouakchott street, zone 1, wuse, fct, abuja., united kingdom office, 19, barnes court, whitley mead, stoke gifford, bristol, england, bs34 8xt., contact form.

Contact Information

Got news to share or want to partner with us? Shoot us a mail: [email protected]

How To Calculate The Cost of Deed of Assignment on Your Property In Lagos

• . May 24, 2021

By Opeyemi Quadri

In the 40s, 50s, and 60s, our forefathers acquired hectares of land from friends and community members without any sort of legal documents. Some of them only needed a witness, that’s all. But that has changed. Even those who inherited property from such lineage are now backing up ownership with legal documents. One of such important land documents is Deed of Assignment.

Today, let’s quickly talk about the cost and how to calculate the charges of Deed of Assignment.

Deed of Assignment is an agreement where the owner of property assigns his or her ownership in land or property to the buyer (who is also known as assignee). It is prepared by a lawyer. The Deed of Assignment contains very important information for a real estate transaction. They include:

1) Names of the parties to the agreement 2) Address of both parties 3) History of the property 4) Agreed cost 5) Description of the land 6) Size of the land 7) Signature of both parties 8) Governor’s Consent

How to calculate the cost of Deed of Assignment Most times, property lawyers in Nigeria charge between 5% to 10% of the cost of the property. In Lagos, for instance, the cost of deed of assignment is 10% of the cost of the property.

If you bought a plot of land at FESTAC Town for N50,000,000, a property lawyer would charge you N5,000,000 (10% of N50M) as legal fee to prepare the deed of assignment.

NOTE: Deed of Assignment is negotiable.

About the writer:

Opeyemi Quadri is a Lagos-based Real Estate Broker. He helps real estate investors and buyers within and outside Nigeria to find legit property . He’s the founder of BuyLandLagos (BLL). BLL is property listing website exclusively for his verified plots of land and completed apartments in Lagos. You can reach him on 08065277758 (Call/WhatsApp). He tweets @OpeQuadri.

View all posts

administrator

Share your thoughts. Leave a comment below: Cancel reply

Marriott hotel launches in lagos, apply now for the estonia school of diplomacy scholarship, related posts.

African entrepreneurs must keep their eyes on the prize, create continent specific solutions – Zandre…

Nigerian Student’s Water App Wins at the Xylem Ignite Global Student Innovation Challenge

Wisolar CEO Wants Solar as Commonplace as Your Home WiFi

Dozy Mmobuosi – the Nigerian Billionaire Attempting a £90m Takeover of EPL Club, Sheffield United

Discover more from exclusive africa.

Subscribe now to keep reading and get access to the full archive.

Type your email…

Continue reading

Legal Guide For Buying A House In Lagos Nigeria

Contributor.

Buying a house either for investment, commercial purpose or residential purpose in Lagos Nigeria involves a series of legal procedures to ensure a smooth and secure transaction. Although, a real estate agent can find a house for someone, but it is important to note that the service of a property lawyer is very key in purchasing a house in Nigeria because some of the factors to be discussed in this article.

LEGAL STEPS FOR BUYING HOUSE IN LAGOS NIGERIA

The following legal steps are crucial and must be carefully followed for buying any house in Lagos Nigeria:

• DUE DILIGENCE/INVESTIGATION

The first stage of any property transaction in Nigeria is the conduct of due diligence or investigation of the property. Before making an offer, Purchaser through his Solicitor must conduct a thorough investigation on the property to verify the ownership of the property, check for any encumbrances (such as mortgages or liens), and confirm that the property is free from any legal disputes or pending litigations.

Searches may be conducted in the following places or manners:

• Lands Registry: - In Nigeria, Land Registry are typically managed by the state governments, by virtue of Land Instrument Registration Law, each state in Nigeria has its own Land Registry responsible for recording and managing land transactions within its jurisdiction. To search for a property at the Land Registry in Lagos, Nigeria, such search may be conducted at Lagos State Land Registry, Alausa, Ikeja, Lagos State.
• Charting at Surveyor General Office : - Purchaser's Solicitor can also apply for a land information certificate from the office of the Surveyor General of Lagos State at Ikeja, Lagos. The process it takes to apply and obtain a information for the enquired property is known as charting. The charting will reflect whether the land falls under any government acquisition or not. The result of the charting will enable the Purchaser's Solicitor to properly advise the buyer accordingly.
• Corporate Affairs Commission (CAC) : - It is safe to note that search at the Corporate Affair Commission is of utmost importance where the owner or the vendor is a business incorporated under the Companies and Allied Matters Act. Purchaser's Solicitor must conduct this search even when the previous search has indicated that the vendor or previous owner has a good title to the property, in other to ensure that the property is free from any registered charge against the company's assets at CAC.
• Physical Inspection: - This is the inspection and assessment of the condition of the house to identify any potential issues. This inspection is crucial to avoid purchasing a property with hidden defects, structural problems and also to confirm if the dimensions of the land conform with the dimensions on the survey at the land survey office.

STAGES IN BUYING HOUSE IN LAGOS NIGERIA

• CONTRACT STAGE

The contract stage typically occurs after purchaser has made an offer on a property and it has been accepted by the vendor. Below is an overview of what typically happens during the contract stage:

• Contract of Sale: - This is usually a preliminary document to tidy up the transaction between the Vendor and the Purchaser. At this stage, the Purchaser, through his Solicitor prepares a Contract of Sale after having established a genuine title to the land or property, offer has also been made on the property and it has been accepted by the vendor or property owner. This is important in order to prevent the vendor from reselling to another purchaser probably because of a higher offer.
• Disclosures and Documentation : The vendor is usually required to provide the purchaser with certain disclosures about the property, such as known defects or past repairs. The purchaser may also need to verify various documents and information required for the closing process.
• Closing: Purchaser and the vendor meet to sign the Contract of Sale document and exchange funds.
• ASSIGNMENT STAGE: -

Assignment stage is the stage where title of the property is transferred to the Purchaser by the property owner and the Purchaser takes full ownership and possession of the Property. Here's an overview of the assignment stage:

• Deed of Assignment: - A Deed of Assignment is a legal document used to transfer the ownership, title, rights, or obligations of property from one person (Vendor) to another (Purchaser). A Deed of Assignment is a registrable document that must be stamped and registered with the relevant authority. The Deed of Assignment may be prepared by the Purchaser's Solicitor and reviewed by the Vendor or vice-versa and be signed by both parties with their witnesses.
• Payment of outstanding sum: - At this stage, all agreed outstanding sum or maybe balance by the Purchaser shall be paid.
• Transfer of relevant documents: - The Purchaser through his solicitor shall request for all relevant documents, such as previous deed of assignment, land survey, receipt and so on, relating to the title of the property from the Vendor.
• Closing: - At this stage, execution of the Deed of Assignment is done by both the vendor and the purchaser with their witnesses. The purchaser then takes full possession and ownership of the property.
• REGISTRATION STAGE: -

Upon the transfer of the property by the vendor to the purchaser, by the provisions of the Land Use Act, the consent of the governor of the state in which the land/property sold is situated must be obtained and the purchaser must register the property with the government to complete the transactions.

To register a deed of assignment in Lagos, Nigeria, you need to follow the steps outlined below:

• Original Deed of Assignment: This is the title document with Governor's consent that transfers the ownership of the property from the assignor (Vendor) to the assignee (Purchaser).
• Tax Payer Identification: You will need to provide evidence of being a registered tax payer before you can register a property on your name in Lagos State. Both the named Assignee and Assignor are subject to payment of personal income tax before a property can be registered.
• Certified True Copies of the property's title documents: This includes the Certificate of Occupancy (C of O), Deed of Assignment, Registered survey plan or any other relevant document proving the ownership of the property.
• Payment of fees: You will need to pay the required registration fees at the Lands Registry. The fees may vary depending on the value of the property.
• Payment of Stamp Duties: You will need to pay stamp duties on the Deed of Assignment. The stamp duties are typically a percentage of the property's value and are payable at the Stamp Duties Office.

Registration of the deed is required to ensure compliance with pertinent statutes and to defend the legal validity of the purchaser's right to the property.

DOCUMENTS RELEVANT FOR BUYING A HOUSE IN LAGOS

When buying a house in Lagos, there are several important documents you should consider obtaining and reviewing. While the specific requirements may vary depending on the transaction and parties involved, here are some documents that are typically relevant in the house-buying process:

• Approved Survey Plan: This is the document that outlines the boundaries and measurements of the property. It will also reveal whether the land is under any government acquisition or not.
• Deed of Assignment: The Deed of Assignment is a legal document used to transfer the ownership and title of property, rights, or obligations from one person (Vendor) to another (Purchaser). It helps the Purchaser to know the root of title to the property to be purchased.
• Letter of Land Allocation: Allocation Letter is also a vital property document, especially when dealing with property located at government schemes such as Government Reserved Areas (GRA). This Letter of Allocation is relevant to proof and process title to the property in such areas.
• Certificate of Occupancy (C of O): The Certificate of Occupancy, or C of O, is the document delivered to the owner of a land by the government confirming the ownership and interest of the owner in that land.
• Governor's Consent: Under the Land Use Act of 1978, approval of the governor of a state is required in respect of any transaction involving the transfer or conveying of any property interest from one person to another. Therefore, governor's consent is not a document on its own but an approval to the transfer of a property interest from one person to another.
• Letter of Administration/ Letter of Probate: This is a legal document that authorizes an individual or a group of individuals (known as Administrators or Executors) to manage the estate of a deceased person who died without a valid will. Note that, any documents directly owned by a deceased person in respect of his or her property before death, becomes invalidated after his or her death to convey title in the said property. The grant of letter of administration or probate shall become the valid title document upon which the estate of the deceased person can be transferred to a Purchaser legally. The legal capacity of the named Executor to sign the document transferring the interest in the deceased person's property is called Assent.
• Power of Attorney: If the property is being sold by someone other than the registered owner, such as an attorney or family member, obtain a copy of the Power of Attorney document authorizing the sale.
• Building Approval: Check if the property has a valid building approval from the appropriate government agency. This ensures that the construction complies with relevant regulations and standards.
• Receipts of Payment: Request receipts or proof of payment for any previous transactions related to the property, such as land purchase or development fees.

In brevity, it is crucial to engage the service of a lawyer abreast in property transaction when planning to buy a house in Lagos, Nigeria. It is the lawyer that will be able to ascertain if the transaction is a good one or not having reviewed all necessary documents pertaining to the property transaction and more. Statutorily, it is only a lawyer that can draft the Deed of Assignment conveying the title of the property to the Purchaser.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Real Estate and Construction

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

REQUIREMENTS FOR THE PROCESSING OF TITLE DOCUMENTS

• ALLOCATION OF STATE LAND
• Application Letter
• Application Form N 10,000.00 for general land and N 20,000 for prime land
• Passport Photograph 5cm x 5cm colour with white background
• Tax Clearance  Certificate of the Applicant
• Development Levy
• Copies of Form C07 in case of Company
• Federal Government Grants
• Formal letter to the Executive Secretary, Land Use and Allocation Committee Block 13 Room 5, Lands Bureau, The Secretariat, Alausa.
• Standard Allocation Form
• Purchase Receipt
• Passport Photograph 5cm x 5cm coloured with white background in case of applications for individuals
• Tax Clearance Certificate of the applicant
• Two Directors Tax Clearance Certificate and Development Levy (Company)
• Attached Survey Plan in CTC must be clear and chartable
• All payment receipts of Land Charges for the Federal Government Allocation
• Certified True Copy of the Root of Title(s)
• Picture of the subject property
• Letter of Indemnity
•  DEEMED GRANT CONSENT( PREVIOUSLY REFERRED TO AS PRIVATE C OF O)
• Application letter
• Application form for Deemed Grant N 10,000.00
• Land Information Certificate
• Deed of Assignment, which must be duly executed by parties to the transaction (2No)
• Two chartable Survey Plans, with evidence of lodgment of Record Copy
• 4 No. Passport Photographs of the applicant (5cm x 5cm) coloured on white background
• Photograph of the subject site
• Location Sketch of the subject site
• N 10,000.00 evidence of payment for Publication
• Evidence of payment for consent fee, stamp duty and Registration & Conveyance

      .  RENEWAL OR EXTENSION OF LEASE ON STATE LAND

• Certified True Copy (CTC) of Title to the Property and that evidencing the legal interest of the applicant
• Evidence of Publication of expression of interest to renew or extend lease by the applicant.

  GOVERNOR’S CONSENT ON  SUBSEQUENT TRANSACTION

• Duly completed land form 1c (sworn to). The form is available at the Lands Services Directorate.
• Certified True Copy (CTC) of root of title, obtained from the Lands Registry
• Deed of/Instruments of transfer (3Nos.) with chartable survey plans annexed
• Passport photographs (4Nos.); individuals (assignees only)
• Certificate of Incorporation/Registration:-Companies/Registered Bodies (Assignee only).
• Site photographs with date and time
• Site location sketch
• Receipt for N 10,500.00 (Charting, Endorsement and 1c).
• Applicant’s/Agent’s means of identification.

    PROCEDURE FOR COMPENSATION MATTERS

• Submission of Claims for acquired/revoked land/title document/building plan
• Title investigation
• Charting of perimeter Survey Plan
• Inspection/valuation or assessment of unexhausted improvement on the land.
• Recommendation of assessed amount of compensation for approval by Mr. Governor.
• Preparation/execution of Indemnity Bond
• Payment of Compensation/Release of letter allocation for alternative land in lieu of monetary compensation).

       REGISTRATION OF VESTING RIGHTS

Deed of Assent- Letters of Probate/Vesting Deed- Letter of Administration

• Application letter requesting to register a Deed of Assent/Vesting Deed – with functional telephone lines and e-mail addresses
• 2 (Two) copies of Deed of Assent/vesting Deed
• Deed must be dated, signed and each page initialed
• Passport Photographs of all the Administrators/Executors to be attached to the Deed
• Front cover of Deed must be signed and sealed by solicitor that prepared the Deed
• Spiral/book binding
• Certified True Copy (CTC) of Root of Title
• Certified True Copy (CTC) of the Letter of Administrators/Will
• Sworn Affidavit deposed by the Administration/Executors attesting to the Vesting
• Original (for sighting) and 1 (one) copy of a valid means of identification of all the Administrator(s) Executor
• Payment Receipts

       LOST/DESTROYED TITLE DOCUMENTS

CERTIFICATE OF OCCUPANCY – EXTRACT OF TITLE DOCUMENT

• Application letter requesting for an Extract of Title document – with functional telephone lines and e-mail addresses
• 2 (Two) copies of the following information/documentation (spiral binding):-
• Affidavit of Loss (passport photograph attached)
• Police Report on the missing document with full details of Title
• Newspaper Publication in a National newspaper (1/4(quarter page)
• Certified True Copy (CTC) of the Title document
• Two Extra sets of colour passport photographs (5 by 5) with white background
• Valid means of Identification of the Applicant (1(one) copy and Original (for sighting)
• Letter of Authority (where application is being processed on behalf of title holder)
• Original and Photocopy of Payment receipts
• Proof of payment of Land Use charge or ground rent in respect of land/property
• Proof of processing in respect of subsequent transaction form Director Land Services

  LAND CERTIFICATE

• Application letter requesting for the issuance of new Certificate
• Affidavit of Loss (passport photograph with full details of Title
• Police report on the missing document with full details of Title
• Two Extra sets of colour passport photograph (5 by 5 ) with white background
• Valid means of identification of the Applicant (1(one) copy and Original (for sighting)
• Letter of Authority where application is being processed on behalf of title holder)
• Original and Photocopy of Payment receipt

DEED OF RELEASE

• Application letter requesting for the Registration of Release of Mortgage/Charge.
• 2 (Two) copies of Deed of Release (Duly stamped)
• Front cover of Deed must be signed and sealed by Solicitor that prepared the Deed Spiral/Book binding
• Certified True Copy (CTC) of the Deed of Mortgage
• Original and Photocopy of Payment receipts.

   REQUIREMENTS FOR OBTAINING CERTIFIED TRUE COPY (CTC) E-SEARCH WITHIN ONE DAY

• Duly completed Form 3 (Search)/Form (CTC)
• Original Payment receipts

REGULARISATION OF UNCOMMITTED GOVERNMENT ACQUISITION

• Covering letter by the agent or person filing the application for regularization stating the accomplished documents.  The covering letter must contain current address, telephone number and where possible an e-mail address
• Duly completed application form obtainable from Lands Bureau

ₒ           N 5,000.00 (Five Thousand Naira) for residential land

ₒ           N 10,000.00 (Ten Thousand Naira) for Commercial Land

ₒ           Form must be dated and signed

ₒ           3 (Three) Passport Photographs (5 x 5) with white background

• Letter of Authority by the applicant  and means of identification (where application is being processed on behalf of applicant)
• Land Information Certificate obtainable from Office of the State Surveyor-General
• Photocopy of Purchase Receipt with evidence of Stamp Duty
• Certificate of Incorporation for company and form C07 showing particulars of Directors
• Current Tax Clearance Certificate or Electronic Tax Clearance Certificate
• Sketch Map of Site location
• 2 (Two) Sun-prints of Survey Plan
• Photograph of the subject site showing date

B.        FEES/RATES/CHARGES

DIRECTORATE OF LAND REGULARIZATION

NB: The SCALE OF CHARGES herein are subject to yearly review without notice.

Related Articles

Lagos state land registry files ready for collection list “a” with effect from monday 21st to friday 25th march, 2022., lagos state land registry files ready for collection with effect from monday 8th january to friday 13th january, 2024., lagos state land registry files ready for collection list “a” with effect from monday 6th to friday 10th may, 2022., lagos state land registry files ready for collection with effect from monday 27th november to friday 1st december, 2023..

• LAGOS STATE LAND REGISTRY FILES READY FOR COLLECTION WITH EFFECT FROM MONDAY 3RD OCTOBER TO FRIDAY 7TH OCTOBER, 2022. October 7, 2022