Have you been buying lands in the Ibeju Lekki axis of Lagos? Cheap cheap lands right and you probably thought everything is good? Well i hate to break it to you, There are no cheap lands in Lagos. If it is cheap, there are risks involved. I'll explain.
Thread!!!!!!!
Thread!!!!!!!
1. Often times i've had people call or message me to ask about cheap lands they can buy & build in Lagos state. Talking about d lands advertised by their church members for 800k or less. Well, patronize your members o but their are some facts #realestate agents wont tell you
3. Excision is the right of the communities as the 1979 land ACT recognise ancestral ownership of land but also it is the right of the government to regulate how excision is been granted to the villages applying for excision so what is EXCISION? The big question!
4. Excision is d process of taking a part from a whole & that part EXCISED will b recorded and documented in d official #government record of the state called #GAZETTE. Excision sometimes can be refer to the opposite of #Acquisition. An excise land is free from Govt acquisition
5. From d above definition, then an excision in process land is a land dt is still undergoing d process called Excision however, I am going to highlight some basic facts u need to know about excision in process land dt most #RealEstate developers/sellers will never want u to know
6. Fact Number 1: Excision in Process is not a Land Title!
Most #RealEstate companies advert has LAND TITLE: EXCISION IN PROCESS. Excision title can only be granted to a land that has undergone the process but it is not a criteria to give such #land the title of an excision.
Most #RealEstate companies advert has LAND TITLE: EXCISION IN PROCESS. Excision title can only be granted to a land that has undergone the process but it is not a criteria to give such #land the title of an excision.
7. It is in the #power of the #government to decide if excision will be granted or not to a particular #excision application so when next you want to jump on a land for sale with the title Excision in process, take a seconds to know what that means. #LandDebate #RealEstate
8. FACT Number 2: Excision Application is a 50/50 Chance!
Most #RealEstate companies selling excision in process #lands will never tell you this even though it’s a risk too on the companies selling. It is not all excision application submitted to the land bureau that is granted.
Most #RealEstate companies selling excision in process #lands will never tell you this even though it’s a risk too on the companies selling. It is not all excision application submitted to the land bureau that is granted.
9. Even when the #land in question has a current status indicating that it is not committed for any #Government purpose.
It is also worthy to note that the fact that a KL file number has been given at the Land ministry does not guarantee that #excision will be granted.
It is also worthy to note that the fact that a KL file number has been given at the Land ministry does not guarantee that #excision will be granted.
10. FACT Number 3: You Can’t Get a Red Copy Survey on Excision in Process Land
Don't be deceived, survey drawn for land awaiting excision cannot be lodge at the surveyor general office because the land does not have an approved land title. It is very straightforward.
Don't be deceived, survey drawn for land awaiting excision cannot be lodge at the surveyor general office because the land does not have an approved land title. It is very straightforward.
11. FACT Number 4: You Can’t Build on Land Awaiting Excision
I know most #realestateagent or sellers will tell you that you can buy a land with land title EXCISION IN PROCESS and start building, sorry to break it to you. YOU ARE ON YOUR OWN!!!
I know most #realestateagent or sellers will tell you that you can buy a land with land title EXCISION IN PROCESS and start building, sorry to break it to you. YOU ARE ON YOUR OWN!!!
12. Buildings erected on an excision in process land stand at a risk of being pull down by the government of the state at any time T.
As I have said earlier, the #Government recognise the indigences have a right to existence,
As I have said earlier, the #Government recognise the indigences have a right to existence,
13. a right to the land of their birth and by default is expected to cede a portion of land to them. The natives can do whatever they wish with d portion that is ceded to them, any actions outside this can result to the government taking actions that may not be favourable.
14. FACT Number 5: In an Excision Application, the Total Area of #Land Applied For is NOT ALWAYS Granted. (Take note: Not Always)
What this simply means is that if a community applied for 50 hectares of land to be excised, the #Government may decides to grant 30 hectares.
What this simply means is that if a community applied for 50 hectares of land to be excised, the #Government may decides to grant 30 hectares.
15. Now the implication of this actions for #RealEstate companies that bought land from this community is that the 20 hectares that was not granted will lose their lands.
16. Some #RealEstate company may compensate their buyers by relocating them to another location different from the ones they initially subscribed for, atleast bad as e bad, half fish is better than none, pata pata na draw. Everybody smiles home not so happy, but not sad.
18. When excision is finally given, d land is no longer under #Government acquisition & processing of C of O (Certificate of Occupancy) is possible.
Wth this little point of mine, i hope i've bn able to convince & not confuse you to understand what u buy b4 you buy what you buy.
Wth this little point of mine, i hope i've bn able to convince & not confuse you to understand what u buy b4 you buy what you buy.
