LEGAL GUIDE ON BUYING OF LAND IN TOWNS AND CITIES
Hello, am glad to have your eyes on this page. On last edition I wrote on “legal guide on buying of land in villages” 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 takea 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 embarrassments.
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.