Property documentation is the foundation of secure real estate investment in Nigeria. Understanding the various documents required and their significance can save investors from costly mistakes and legal complications.
Certificate of Occupancy (C of O)
The Certificate of Occupancy is the most important document in Nigerian real estate. It serves as evidence of your right to occupy and use the land.
Key Features:
- Issued by state governments
- Valid for 99 years (renewable)
- Required for all land transactions
- Provides legal protection against disputes
Survey Plan
A survey plan is a detailed drawing that shows the boundaries, dimensions, and location of a piece of land.
Types of Survey Plans:
- Cadastral Survey Plan
- Layout Survey Plan
- Building Plan Survey
- Topographical Survey Plan
Deed of Assignment
This document transfers ownership rights from the seller to the buyer. It must be properly executed and registered.
Essential Elements:
- Names and addresses of parties
- Property description
- Consideration (purchase price)
- Signatures of parties and witnesses
Building Approval
Before constructing any building, you must obtain approval from the relevant state agency.
Required Documents:
- Architectural drawings
- Structural drawings
- Mechanical and electrical drawings
- Environmental impact assessment
Tax Clearance Certificate
This document proves that all property taxes have been paid up to date.
Verification Process
At Fairchoice Realty, we follow a comprehensive verification process:
- Document authenticity check
- Title search at relevant registries
- Physical verification of property
- Legal opinion from qualified lawyers
- Final clearance certificate
Common Documentation Pitfalls
Avoid these common mistakes:
- Accepting photocopies without originals
- Skipping title searches
- Ignoring survey discrepancies
- Not verifying seller's ownership
- Rushing the documentation process
Conclusion
Proper documentation is crucial for secure property investment in Nigeria. Always work with experienced professionals who understand the legal requirements and can guide you through the process safely.