9 PROPRIETY RIGHTS ENJOYED FROM LAND AND PROPERTY OWNERSHIP

Owning land and/or landed property is one of the fundamental ideologies behind man’s existence on earth. This is largely due in part to it been used as a yardstick in determining one’s level of success, influence, status and socio-political power among family members and relatives, peer groups, colleagues and the society at large.

However, there are some certain types of propriety rights that are enjoyed from owning land and landed properties which I will explain to you today. But before I go on with my explanations, let me briefly define Estate Management as a course of study in order to ignite your enthusiasm and curiosity on the topic.

Thorncroft, M (1965) defined Estate Management as “the direction and supervision of an interest in landed property with the aim of securing an optimum return. This return need not always be financial but may be in terms of social benefits, status, prestige, political power or some other goals or group of goals”

From the definition above, you will realize that it is through directing and supervising the various interests inherent in land and landed property ownership that brings about the study of estate management to assist and guide the property owner in achieving their identified goal or group of goals.

Propriety Rights and Interests are the Bundle of Rights which an owner of land and/or landed property has and enjoys from its ownership. 

Some of this bundle of rights includes:

·         Right to lawful possession

·         Right to alienate of transfer

·         Right to lease

·         Right to sell

·         Right to income accruing from land and landed property

·         Right to develop and/or redevelop

·         Right to mortgage it

·         Right to claim possession and ownership

·         Right to grant lesser interests and rights

1.      RIGHT TO LAWFUL POSSESSION

One of the rights which an owner of land and/or landed property enjoys from its ownership is the right to lawful and actual possession. 

An owner of land and/or landed property who has acquired a land and/or landed property legitimately from the appropriate source, has an exclusive right to take actual and lawful possession without any fear of been ejected or dispossessed from doing so. 

In the event of any government acquisition exercise, the owner of such land and/or landed property will be entitled to adequate compensation for the exclusive right of lawful possession which has been taken from him/her in such circumstance.

2.      RIGHT TO ALIENATE OR TRANSFER

Another right which an owner of land and/or landed property has over its ownership status is the right to alienate or transfer the land and/or landed property to his children, wife/husband, immediate family or any other person he/she so desires to alienate or transfer the land and/or landed property to.

What is only required from the owner of such land and/or landed property in transferring or alienating the land and/or landed property in question is a well written, signed and stamped document which specifically spells out who the land and/or landed property is been transferred or alienated to by the right owner. 

3.      RIGHT TO LEASE

This is one of the most common types of rights which an owner of land and/or landed property enjoys from its ownership. It is commonly found among property investors who owns residential and commercial land and/or landed properties that are leased out to prospective clients in need/demand of such class of land and/or landed property.

What the right indicates is that an owner of land and/or landed property has the exclusive right to lease out his land and/or landed property for tenancy or leasehold purpose in consideration for money paid in form of rent.

In exercising his right to lease the land and/or landed property, the owner usually employ the services of a professional real estate agent who is given the mandate and instruction to manage the land and/or landed property as well as accept rent paying tenants with good characters/beaviours into the property. 

4.      RIGHT TO SELL

Another right which is synonymous to the right to alienate or transfer land and/or landed property by the owner is the right to sell such land and/or landed property which he/she enjoys absolute ownership and possession anytime he/she wishes to do so.

An owner of land and/or landed property having absolute possession of the land as well as legitimate/genuine title documents on the land and/or landed property has the sole right to sell the land and/or landed property anytime he so desires to do asuch. 

The owner of the land and/or landed property can as well sell at any price he desires or as been advised by the professional Estate Surveyor and Valuer whom he has consulted for his/her expertise.

5.      RIGHT TO INCOME ACCRUING FROM LAND AND/OR LANDED PROPERTY

An owner of land and/or landed property also has the exclusive right to streams of income accruing from the land and/or landed property which he has absolute possession and ownership claim of. 

The streams of income accruing to owner of the land and/or landed property may be in form of leasehold, sales or development of the land and/or landed property.

6.      RIGHT TO DEVELOP AND/OR REDEVELOP

What an owner of land and/or landed property can also do from owning land and/or landed property is the right to develop or re-develop the land and/or landed property anytime he/she wishes to do so.

An owner of a bare land can for instance develop such land into different classes of built-up structures based on the need and demand for that type of structure. Such developed built-up structures may be in the form of residential accommodations, commercial and recreational structures.

Another scenario is a situation whereby the owner of land and/or landed property due the right he has on the ownership of such land and/or landed property redevelops it either to enable it meets up with the current building standard or modifies it into something different entirely.

7.      RIGHT TO MORTGAGE

The owner of land and/or landed property also has the exclusive right to mortgage his/her land and/or landed property with a mortgage or financial institution in consideration for loan advancement.

The land and/or landed property which an owner has mortgaged will serve as collateral for the loan advancement which he/she is seeking from the mortgage or financial institution.

The mortgaged land and/or landed property will revert back to the rightful owner once the loan instrument has been offset with the mortgage or financial institution by the owner.

8.      RIGHT TO CLAIM POSSESSION AND OWNERSHIP

The owner of land and/or landed property also has an exclusive right to claim possession and ownership from illegal occupants of such land and/or landed property.

In claiming possession or ownership of the land and/or landed property back from illegal occupants, the rightful owner will need to tender all his title documents legally tenable in any court of law which specifically indicate and reveal that the claimant is the rightful owner of such land and/or landed property in question.

9.      RIGHT TO GRANT LESSER INTERESTS AND RIGHTS

The other right which an owner of land and/or landed property also enjoys from such ownership is the right to grant lesser interests and rights on his/her land and/or landed property with some specified restrictions indicating the obligations of enjoying such rights and interests for whom it is granted by the actual owner.

Some of the lesser rights and interests which can be granted by an owner of land and/or landed property are: easement, license, profit aprendre, way leaves, covenants, etc.

I hope with all these explanations above, you are in a good position to know the various propriety rights you can enjoy from owning land and/or landed property.

ABOUT THE AUTHOR

Adeniyi Akinjiyan is a Higher National Diploma (HND) holder of Estate Management from the prestigious Yaba College of Technology, Yaba, Lagos state, Nigeria. He possesses a Professional Practice Certificate in Estate Surveying and Valuation from the Nigerian Institution of Estate Surveyors and Valuers (NIESV).

He is the principal consultant of Aakient Consultants Ltd, a highly progressive and consolidated property and construction project management company, which is committed to providing the highest level of professional services in meeting clients’ real estate needs.

Feel free to contact him at: aakientconsultants@gmail.com

9 THINGS TO CONSIDER WHEN BUYING LAND FROM TRADITIONAL LAND OWNERS (OMO-ONILE)

One of the easiest and fastest way of buying land in Nigeria is through the traditional land owners, popularly called “Omo-Oniles”. The reasons for these are based on the following factors:

·         Land from the traditional land owners – Omo Oniles – is readily available to all prospective buyers to purchase anywhere and anytime they so wishes

·         Most people still regards traditional land owners as the custodians of land in Nigeria

·         Traditional land owners still lay claims to the ownership of land in most parts of Nigeria

·         Lack of proper and adequate awareness on the part of government as been the overall custodian of land in the country

·         Lands bought from traditional land owners encourages quick location, infrastructural and social development of the populace and environment

·         The sales (monetary) value of land bought from traditional land owners is cheap and easily affordable to the general populace most importantly the low-income earners

So today, I will highlight and identify those important things you should/must consider and establish when you want to buy land from the traditional land owners – “Omo Oniles”

Before you eventually buy that land from the traditional land owners otherwise known as Omo-Oniles, endeavour to consider these following things:

1.      Try to consider and investigate the total land area and size of the traditional land owners is properly printed on a survey plan showing details of the land in relation to its size and positioning

2.      Is the head of family of the traditional land owners aware of the land transaction you are going into but if not so, try to request for his presence/awareness before you finally pay for the family land from them

3.      Confirm from the traditional land owners if the family land you are about buying is not under any known co-operative, government acquisition or committed land scheme

4.      Before you eventually pay for the family land, make adequate preparation and consideration for drafting a well written and registered Transfer Agreement which should be prepared by a legal practitioner between you and the family land owners

5.      Also, you must endeavour to consider asking within and around the locality/area where the land is situated whether the land you are about to buy from the omo-oniles has not been sold to someone else

6.      You must also consider perfecting the title documents of the land purchased from the traditional land owners with the government after completion of the transaction . The process for doing that is called Ratification.

7.      It is also important to trace the true ownership status of the land before you finally pay for it.

8.      Another thing to consider again as a buyer of omo-onile land is the establishment of no legal dispute between the traditional land owners and some other traditional land owners or even among the actual land owners as per the actual owner in respect of the particular land you want to buy.

9.      You should also consider liaising with the duly appointed family head of the traditional land owners before you finally pay for the land.

I hope with the various factors identified above, you are properly placed in the best position to buy any land belonging to the traditional land owners – “Omo Oniles” – in Nigeria

Always employ the services of the professional Estate Surveyor and Valuer to guide you through the process of purchasing/buying land from the traditional land owners – “Omo Oniles” - as they are professionally trained in the art and science of diversified areas of Real Estate Management discipline inclusive of Estate Agency.

ABOUT THE AUTHOR

Adeniyi Akinjiyan is a Higher National Diploma (HND) holder of Estate Management from the prestigious Yaba College of Technology, Yaba, Lagos state, Nigeria. He possesses a Professional Practice Certificate in Estate Surveying and Valuation from the Nigerian Institution of Estate Surveyors and Valuers (NIESV).

He is the principal consultant of Aakient Consultants Ltd, a highly progressive and consolidated property and construction project management company, which is committed to providing the highest level of professional services in meeting clients’ real estate needs.

Feel free to contact him at: aakientconsultants@gmail.com

6 AVENUES TO PURCHASE LAND IN NIGERIA

Acquiring or purchasing land for developmental purposes of any kind in Nigeria is a very tedious and rigorous process for anyone who does not know the appropriate channel/avenue to follow in doing so. This is due to the high level of protocols and bureaucracies that any aspiring land purchaser will inevitably go through.

Because of these factors, I have decided to write on the various avenues by which anybody (Public, Corporate or Individual) aspiring to acquire or purchase land for varying developmental purposes in Nigeria can do asuch.

The various avenues to purchase/buy land for developmental purposes in Nigeria are:

·         Government estate schemes

·         Private property development companies

·         Government’s property investment companies/agencies

·         Mortgage/financial institutions

·         Individual property investors

·         Traditional land owners (Omo-Onile)

1.      GOVERNMENT ESTATE SCHEMES

Acquiring or purchasing land for any developmental purpose from government (State and Federal) is the most authentic avenue to do asuch, as this is statutorily stipulated in the Land Use Act of 1978.

The Act vested all land lying in the territory of each state (except land vested in the Federal government or its agencies) solely in the Governor of the State, who would hold such land in trust for the people and would henceforth be responsible for allocation of land in all urban areas to individuals resident in the state and to organisations for residential, agriculture, commercial and other purposes while similar powers will with respect to non urban areas are conferred on Local Governments.

Section 1 of Act states that “Subject to the provisions of this Act, all land comprised in the territory of each State in the Federation are hereby vested in the Governor of that State and such land shall be held in trust and administered for the use and common benefit of all Nigerians in accordance with the provisions of this Act”

In adhering to the laid down laws of the Land Use Act, government (State and Federal) do acquire large expanse of land to be developed into either site and service estate schemes or built-up estate schemes which are then advertised to the general public for purchase and acquisition.

Any body that acquires or purchases land in government estate schemes will be issued a statutory right to use that land for a fixed term/period of 99years. The evidence for granting such purchaser the statutory right on the land is issuance of a Certificate of Occupancy (C of O) to that successful applicant/purchaser. 

But as secured and legitimate as it looks or sounds in acquiring or purchasing land from government estate schemes, the process in doing is still a tedious one as many people who subscribed/applied to these government schemes are yet to be allocated their plots of land largely due to over-subscription and/or non availability of government estate schemes which people can readily purchase for developmental purposes.

Because of these negative factors, many people have diverge different ways in acquiring/purchasing land from other sources since government’s various estate schemes cannot cater for nor meet the high demand of people in dire need of land for different developmental purposes (most residential).  

2.      PRIVATE PROPERTY DEVELOPMENT COMPANIES

Another avenue which people can take to acquire or purchase land for developmental purpose in Nigeria is through site and service (land) estate schemes been massively embarked upon by the various private property development companies carrying out real estate development activities and business in the country.

What these private property development companies do is to acquire large expanse of land from either the traditional land owners (omo-onile), government (state and federal) or private/corporate land owners, and afterwards divide the land into lots/units/plots to be sold to the general public in the form of a site and service estate scheme or built-up estate scheme.

Anybody that is interested in acquiring/purchasing land for developmental purpose from the various private property development companies will need to apply and subscribe to such estate scheme either directly with the property development company or any of their associate marketing partners.

Payment for land in any of these private property development companies’ estate schemes is made either out-rightly, in installments or as may be prescribed by the developers of such estate schemes.

The title documents that are given to successful subscribers/purchasers of private company development estate schemes is letter of allocation of the particular lot/plot of land bought coupled with a Deed of Assignment/Conveyance bearing the purchaser’s name.

Many private property development companies forbids people in buying more than one plot of land from any of their estate schemes mainly to discourage speculative motives of some property investors.

Examples of private property development companies in Nigeria are UAPDC, HFP engineering ltd, etc

3.      GOVERNMENT PROPERTY INVESTMENT AGENCIES

Government (state and federal) have also created and established various property investment agencies/companies to cater mainly for the provision and availability of large expanse of land to the general public for acquisition/purchase but this is embarked upon from the investment perspective of the government.

Real estate is regarded as one of the best investment machine that generates adequate returns on investment through provision of streams of income for the owner. It is in this regard that government also established property investment companies/agencies to make large expanse of land available for sale to the general public so as to generate more revenues inform of income to the government.

So, government’s property investment agencies/companies is another avenue where all prospective purchasers/buyers of land for developmental purpose can go to in acquiring or purchasing the land of their choice.

Examples of government’s property investment companies/agencies in Nigeria are: LSDPC, Ibile Holdings, Ogun state property development company, etc

4.      MORTGAGE/FINANCIAL INSTITUTIONS 

Yes, it is also possible for anybody looking for land to acquire or purchase for developmental purpose to get such land from any of the mortgage or financial institutions operating in Nigeria.

There are some foreclosed properties such as land and buildings which some mortgage and financial institutions always advertise for sale to the general public due to non-payment of the loan advancement granted owners of these land and landed properties which have been used as collateral for the repayment of such loan advancement.

Anybody that needs land for developmental purpose might be lucky to get a good bargain for any of this foreclosed land and landed properties as their monetary values is not always in consonance with their real Market Values.

So you can always be on the look out for the availability of foreclosed lands from mortgage and financial institutions operating in Nigeria if and when you want to acquire or purchase land for developmental purposes.

5.      INDIVIDUAL PROPERTY INVESTORS

Individual property investors refer to those investors who buy land from various sources and/or avenues mainly for speculative and investment motive to be sold back to the general public afterwards. 

They are investors who buy land so as to keep hold of it till when it appreciates in monetary value and afterwards sell such land at a higher price to anybody who may be interested in acquiring or purchasing such land from them.

So many people are now going into the act of real estate investment as they are certainly sure of making higher returns on their investment afterwards.

Also, there are some individual property investors who buy land to undergo different classes of property development (residential, commercial, leisure, etc) activities to be leased or sold to people after its completion, while there are some who just buy land to re-sell such after some time when it has appreciated in monetary value.

Acquiring or purchasing land from individual property investors is another avenue which can be relied upon by anyone looking for genuine means of getting land for developmental purpose in Nigeria.

6.      TRADITONAL LAND OWNERS (OMO-ONILE)

This is by far the most popular means by which one can acquire or purchase land as far as land acquisition for developmental purpose is concerned in Nigeria. It is the easiest avenue and the most direct means which one can acquire or purchase land in Nigeria for developmental purpose.

This is so because it is not everybody that are properly enlightened or aware as to the other various avenues where and how land can be bought/purchase for developmental purpose in Nigeria.

Also, buying land from the traditional land owners popularly called Omo-Oniles is very cheap and readily available for everyone to access as compared to the other avenues mentioned above.

Most and if not all of the various avenues I mentioned above in acquiring or purchasing land for various developmental purposes in Nigeria are through the traditional  land owners – Omo Oniles – whose family and forefathers lay claim to the ownership of land in the country. 

This has been so, long before the enactment of the Land Use Act of 1978 and even afterwards till today.

There are so many things that must be considered when buying land from the traditional land owners - Omo-Oniles - in Nigeria as whoever does not take cognizance of these things may end up falling into the wrong owners of such family land.

Be on the lookout for my next post as I will be writing on the various factors to be considered when buying land from traditional land owners – Omo Onile.

Always employ the services of the professional Estate Surveyor and Valuer to guide you through the process of acquiring or purchasing land from any of these various avenues written above as they are professionally trained in the art and science of diversified areas of Real Estate Management discipline.

I implore you to kindly share this post/article because there are so many people out there looking for this particular piece of information but can’t get or have access to it.

ABOUT THE AUTHOR

Adeniyi Akinjiyan is a Higher National Diploma (HND) holder of Estate Management from the prestigious Yaba College of Technology, Yaba, Lagos state, Nigeria. He possesses a Professional Practice Certificate in Estate Surveying and Valuation from the Nigerian Institution of Estate Surveyors and Valuers (NIESV).

He is the principal consultant of Aakient Consultants Ltd, a highly progressive and consolidated property and construction project management company, which is committed to providing the highest level of professional services in meeting clients’ real estate needs.

Feel free to contact him at: aakientconsultants@gmail.com