03/02/2025
Allocation Saga❗❗❗❗
Listen to this video to the end to prevent yourself from missing out in your land Allocation.
Land allocation ensures clients to receives a legally recognized title or deed, confirming their ownership. This reduces the risk of disputes or claims from third parties, but before you get your allocation you must make sure you pay for all statutory Fees.
In Nigeria, statutory fees are government-mandated charges that property buyers, sellers, and landowners must pay to legally acquire, transfer, or register property. These fees vary depending on the type of property, location, and land tenure system.
Land Statutory Fees for Real Estate Transactions in Nigeria
1. Survey Fee
A land survey is required to define property boundaries and confirm its legal standing. This fee varies based on location and the surveyor’s charges.
Estimated Cost: ₦100,000 – ₦1,000,000 (depending on the state and land size)
2. Deed of Assignment Fee
A Deed of Assignment is a legal document that transfers property ownership from the seller to the buyer. It must be prepared and registered with the government.
Estimated Cost: Varies based on legal and registration charges
3. Governor’s Consent Fee
Under the Land Use Act of 1978, all land in Nigeria is owned by the government. For any land sale or transfer, the new owner must obtain the Governor’s Consent to make the transaction legally binding.
Don't sign that subscription form until you read it thoroughly to see all the statutory fees that you're to pay, after paying for all your statutory fees you can now be given Allocation for your property.
I hope you find this helpful, please kindly like, comment and share ▶️▶️
I still remain your favorite Yoruba Realtor
Folorunsho Taibat
(aka Alhajaomonile)
MD Taimar Properties
🇳🇬🇬🇧
