Real estate giant and Chairman of Property World African Network (PWAN Group), Dr. Augustine Onwumere, has advised property investors to leave no stone unturned until they have procured requisite title documents for their landed properties.
He emphasised that possession of title documents issued by relevant government agencies is the only way a property owner can enjoy the full benefits of owning a property.
The real estate guru gave the counsel, at the unveiling of PWAN Land Acquisition and Title Procurement Ltd, by PWAN MAX Property and Business Solutions, a member of the PWAN GROUP, in Lagos recently.
“As a real estate marketing, investment, management, and Development Company with over ten years of robust corporate experience, we have come to realise that property investors need to be educated on the need to own government recognised titles documents.
“We also understand that a lot of people do not enjoy the full benefits of owning a property.
“For instance, many do not know that they can avoid unnecessary disputes, enjoy zero interference from customary landowners, and use title documents as collateral to secure loans.
“A title document makes it possible for a property owner to enjoy value appreciation, facilitates easy transfer of title, ensure property security, and easy access to government compensations when necessary,” he said
He also pointed out that a land title is a legal document that serves as evidence or proof of land ownership. “One does not fully own land until a title is registered with the government. Invest smartly, procure your land title document and secure your land,” Dr. Onwumere further advised.
The company’s Business Development Executive (Title), Engr. Charles Ofoegbu, however, assured prospective property investors that PWAN Title Procurement Ltd was set up to help interested investors procure title documents.
“We are here to tell you that registering your land titles shouldn’t be a big deal. Our mission is to make the process easy and affordable. And our overriding goal is to promote and give the best value to our clients at all times,” Engineer Ofoegbu added.
Dr. Onwumere noted that the land use act of 1978 abolished the previously existing land tenure systems and replaced them with a uniform land administration system across the country.
FOUR STAGES OF TITLES
He identified four stages of land titles under the act as follows: Excision, which he said is the process whereby the government releases a portion of land that is considered free to the host community.
“Excision properly published in government gazette is a good document to ascertain that a portion of land is not under acquisition,” he explained.
The next level, he said is Gazette; an official record book that spells out details of an expanse of land excised and given back to the community. The excision document is usually taken to the Surveyor General’s office for publication in the gazette.
“Certificate of Occupancy, popularly called ‘C of O’, is an official land document given by the state or federal government, which leases land to individual owners for a period of ninety-nine (99) years.
It is one of the most popular property documents or titles in Nigeria.
“Then there is the Governor’s Consent. Where a person with C of O decides to sell land to another person, the government’s consent must be obtained before that transaction can be valid. This process continues every time the property changes hand.
“The entire process could take a rigorous period of up to six months to be perfected.
“Hence, I advise interested property owners to feel free to approach PWAN Land Acquisition and Title Procurement Ltd, for easy and seamless title procurement,” Dr. Onwmere said.