10/05/2024
Before you Buy a Property with C Of O, Check the Survey Plan
When acquiring a property, it is always important to know if the property has a Certificate of Occupancy (C of O) or some other title. But it is more important to know if the C of O is defective.
It is not uncommon for errors to be made during land title preparation.
One thing you must do before acquiring a property with C of O is to check the survey plan.
The most common error on a survey plan is wrong coordinates. This error usually results from typos or wrong GPS parameters. And it goes undetected because it is often impossible to know if the coordinate of a location is wrong by visual inspection. The implication of wrong coordinates on a survey plan is that the survey plan describes a property in another geographic location not the intended location. For example the property is in Surulere but when the survey is plotted/charted, the property falls in Agege.
Errors in a C of O (or other land titles) can be corrected with a Deed of Rectification. However, before you decide to acquire a property with defective title, it is important to know the requirements for rectification so you can decide if it’s a process you want to go through.
REQUIREMENTS FOR TITLE RECTIFICATION
1) Application letter addressed to the Permanent Secretary, Lands Bureau.
2) 2Nos. Deed of Rectification
3) 2 Nos. Sunprint Survey plan for survey rectification
4) Newspaper publication (half page) in a widely circulated Newspaper
5) Means of identification (National ID, Driving License, Voter’s Card or data page of valid International passport
6) Sworn affidavit with photograph attached
7) Receipts evidencing payment of rectification charges:
😎 1.5% aggregate broken down into;
9) Rectification Fee @ 0.75% of assessed value,
10) Stamp duty @ 0.375% of assessed value and
11) Registration @ 0.375% of assessed value
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