Legally Recognised Ways Of Acquiring Properties In Nigeria (1)

By Ikenga Chronicles January 7, 2018

Legally Recognised Ways Of Acquiring Properties In Nigeria (1)

— Adebayo Adekola

Over the weekend, I was asked questions on the legally recognized ways of acquiring properties in Nigeria whether for investment or personal use, hence this post.

There are about six methods of becoming a property owner in Nigeria. However, 3 of the methods are not in existence. They have become practically impossible ways of owning property in modern times. These three methods are:

1. First settlement and deforestation of virgin land: All lands are presumed to belong to the state held in trust by the Governor under the Land Use Act, local government, community, family or even individuals granted certain years of leasehold by a certificate of occupancy or statutory grants. Thus, one person can not wake up in modern day Nigeria, get to an area or virgin land and say he owns such land or property. No way! If the history of the property is traced, it would be traced to someone or persons with prior right of ownership.

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2. Conquest during a tribal war:  This has long ceased. This is a method by which a person(s) or community acquire lands of defeated towns after a war against such defeated town or country.

3. Customary grants: This is a method by which communities give out land to individuals either as a gift or for appreciation. This is usually done by communities.

In subsequent tips, I will talk about the other three methods legally recognized for acquiring property in Nigeria.

To be continued

  • He is a lawyer, with interest in property, Corporate, Commercial, Civil, and Criminal Law and Practice. He holds an Associate Graduate Diploma (ACIS) in Maritime and Shipping from the Certified Institute of Shipping of Nigeria. He is an Association Member, Institute of Strategic Management of Nigeria. You can reach him on +234-909-706-6504

 

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