8 Things That Can Restrict You From Buying And Selling Land In Nigeria – Every land has the tendency to appreciate in value. It doesn’t come as a surprise to see a lot of people developing an interest in buying and selling land or acting as agents in the disposal of land. Not only is real estate lucrative, but it also gives you the certainty of having something tangible to hold in to in years to come.
In Nigeria, some laws regulating the sale of an interest in land have prescribed certain restrictions against the process of buying and selling land. As such, there could be some hindrances when it comes to the alienation of land. Some of these instances are provided for in the Land Use Act, while others are codified in other land laws and regulations. They include:
1. The consent of the governor of a state is required before you can transfer your title in land to another person, particularly if it would require getting a certificate of occupancy.
2. A person under the age of twenty one cannot own any land which has the title of a Certificate of Occupancy.
3. A non-Nigerian citizen cannot be granted a right of occupancy except he or she gets approval from the National Council of states.
4. If the land belongs to a community or family, the consent of the principal members of that family or community must be obtained.
5. Some town planning laws may be against the transfer of title in lands if the reason for such transfer defeats the purpose of those laws or regulations.
6. If there is a matter before a court on a particular land, it would be impossible to sell that land for the period that matter is in court.
7. Lands owned by certain ministries or departments may require that the minister in charge of them grant consent before any of their lands are disposed of.
8.In a lease agreement, there may be certain covenants that prevent one party from selling the land in question.
Do ask any questions you might have below.