How To Overcome The Challenges Of Land Acquisition In Lagos

Due Diligence: Before purchasing land, conduct thorough due diligence. Verify the land’s ownership, title, and history. Engage a legal professional to review documents and ensure there are no encumbrances or disputes.

Survey and Measurement: Hire a licensed surveyor to accurately measure and demarcate the land. Confirm that the survey aligns with existing records and boundaries.

Title Verification: Check the land’s title status. Titles can be freehold, leasehold, Certificate of Occupancy, Governor’s Consent or customary. Ensure the title is valid and transferable.

Community and Government Approval: Obtain community and government approvals. Lagos State has specific regulations for land transactions. Compliance with the Lagos State Real Estate Regulatory Agency (LASRERA) is crucial.

Land Use and Zoning: Understand the land’s designated use (residential, commercial, industrial, etc.). Zoning laws affect development plans.

Environmental Impact Assessment (EIA): For large-scale projects, conduct an EIA to assess environmental impact. Obtain necessary permits.

Payment Structure: Negotiate payment terms with the seller. Consider installment payments or escrow arrangements.

Legal Assistance: Engage a real estate lawyer to handle legal aspects, including drafting contracts, conducting searches, and ensuring compliance.