Throughout the Nigerian real estate market, one of the terms you may encounter is “Land Title.” We’ll discuss “Land Title” in this piece, along with the significance of title searches throughout the entire house-buying process.

A crucial component of life, the interaction between land and humanity has given rise to several conflicts worldwide. Title is crucial in land transactions because it outlines the owner’s collection of rights over a piece of property that can be kept, consigned, or moved from one party to another. We assume that at this moment, you’re wondering why it’s important to look for the land registry title.

A crucial component of life, the interaction between land and humanity has given rise to several conflicts worldwide. Title is crucial in land transactions because it outlines the owner’s collection of rights over a piece of property that can be kept, consigned, or moved from one party to another. We assume that at this moment, you’re wondering why it’s important to look for the land registry title.

How crucial is a thorough title search?

To illustrate the significance of a land register title search, consider the following scenario:

Mr. Femi has saved money to build his dream home after determining that building a home instead of purchasing an existing one in Nigeria is the best course of action for his property acquisition strategy. He looks around and discovers, within his budget, a really nice offer for a block of land in his preferred location—League, Lagos. Mr. Femi visits the property developer/seller, delighted that the conditions he had established before starting his house-buying quest have been fulfilled. He queries the developer about the type of title covering the land and whether there are any outstanding debts he should be aware of at the time of the plot acquisition.

He is given the assurance by the developer/seller that the title is free of problems and there are no outstanding debts. The seller’s statement indicates that the transaction is finished. After receiving his payment receipt and the survey covering his land, Mr. Femi grinned and left. After constructing his ideal home for three years, he receives a notification for land repossession from a different person holding a legitimate title to the same piece of property. In a court battle, Mr. Femi faces the possibility of losing his ideal house. How will this legal battle turn out?

Mr. Femi could lose everything, even the house of his dreams. What went wrong for Mr. Femi? He moved forward with the transaction without first performing an appropriate title search. Ignorant of the potential repercussions, many rush into land/property purchases once the pricing feels good and the location works. Few people escape unharmed, and some get bruises.

The significance of title searches for real estate

In actuality, there are a lot of Mr. Femis in the world. The process of buying a home is not as complicated as many people may believe. All you need is the correct information to help you through each step of the procedure and minimize the risk of losing your money.

What can a buyer learn from a land title search?

A title search informs the potential buyer of the seller’s or developer’s legal entitlement to sell the subject property, or, alternatively, if the seller or developer can legally transfer the interest in the property to a third party. Additionally, it tells the buyer if the property is subject to any government regulations or other encumbrances. It’s that easy: a property title that is encumbered typically portends a storm that is about to blow. It is the buyer’s responsibility to ask all the pertinent questions during a real estate transaction; some questions can only be addressed after the title search is completed. The law issues a “Caveat Emptor” warning to purchasers.

What can a buyer learn from a land title search?

A title search informs the potential buyer of the seller’s or developer’s legal entitlement to sell the subject property, or, alternatively, if the seller or developer can legally transfer the interest in the property to a third party. Additionally, it tells the buyer if the property is subject to any government regulations or other encumbrances. It’s that easy: a property title that is encumbered typically portends a storm that is about to blow. It is the buyer’s responsibility to ask all the pertinent questions during a real estate transaction; some questions can only be addressed after the title search is completed. The law issues a “Caveat Emptor” warning to purchasers.

How much time ought to a title search take?

States vary in this regard in terms of their efficiency. The title search in Lagos ought to take no more than a week. The timeframe for carrying out a title search, however, is subject to significant variation as a result of numerous administrative and bureaucratic issues that are without the applicant’s control.

What occurs if a buyer finds out there is an encumbrance after making a purchase?

The buyer frequently has the choice to “make good the title” by approving it. Buyers should keep in mind the legal principle “Quic Quid Plantatur Solo Solo Cedit”—which states that anything attached to land becomes a part of it—when making the decision to purchase. In this scenario, however, the buyer loses everything, including the structure, as the seller never had an authentic right to be transferred to another and such rights resides in another and such a person, group, or institution is not willing to ratify. But if it were feasible, the buyer might go up to the rightful owner and renegotiate a new deal for the land.

What kind of title is appropriate for land?

A common query among prospective real estate purchasers is “what title can be considered a good title over land.” Our response is as follows: a good title is a registered Deed of Assignment, Conveyance, Lease, or Sub-lease that has the governor’s approval attached. However, prospective buyers of real estate should make sure that this registered title was not obtained fraudulently or unlawfully, as a third party may attempt to launch a lawsuit in such a situation.

Recall that there is no ignorance in the legal system, so we must arm ourselves with the necessary information. Before you finalize the land sale, make sure you conduct a proper land register title check, and that the search is performed by an expert, preferably a lawyer. Don’t undervalue yourself by putting yourself in the wrong hands.

Additionally, searching the Surveyor General’s office to make sure the red copy of the Survey to the land is filed there is another way to verify the land title and make sure the land is not being acquired by the government.

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