Hello, am glad to have your eyes on this page. On last edition I wrote on “Safest Means of Purchasing rural Land” which dwelt on the purchase of land under customary law which often occurs in our villages. I highlighted the legal requirements and steps to a successful land transaction under such law. Now is time for us to take a deep dive into land transaction under our statutory law. It is for land transactions in our towns and cities. I urge you to learn as much as you can and save yourself embarrassment.  

More than 75% percent of the earth is covered by water bodies while 25%is land. One of the essential needs of man is Shelter. Man is not coldblooded hence he needs land to put up his living. The oldest and best investment has remained real estate investment. No wonder in 1974, Ray Kroc, the founder of “McDonald's” told listeners that his real business is not the sale of hamburger rather real estate. In Africa aside the economical and sociological importance of land and property on it; it is a visible sign of self accomplishment, and success.

LEGAL GUIDE ON BUYING OF LAND IN VILLAGES (CUSTOMARY LAND)

All lands in Nigeria is vestedon the 36 States’ Governors across Nigeria aside those lands own by Federal Government and her agencies. Local Government Chairmen have vestments of land in local government (non-urban areas).  A Governor of astate as well as a local government can lease out to individuals (21 years old and above) or companies or incorporated trustees for a certain term (usually 99 years). Upon the approval of either the governor or local government (as the case may be) the person or registered company to whomgovernment had leased a land to, can subsequentlysub-lease, transfer, alienate, mortgage and vest such upon another person, registered company or trustee. Land can be sold and bought in Nigeria either through customary law or statutory law.  Below is a guideon acquiring land in villages throughcustomary method.   

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