TYPES OF LAND DOCUMENTS AND THEIR MEANING
𝑾𝑯𝑨𝑻’𝑺 𝑳𝑨𝑵𝑫 𝑫𝑶𝑪𝑼𝑴𝑬𝑵𝑻𝑺?
Land documents refer to the various legal instruments or documents that are used to establish and transfer ownership rights of landed property.
In Nigeria, we have a lot of land documents affecting the transfer of land ownership and legal interest in a property. As a realtor and client, it’s necessary to get acquainted with these documents.
All documents are not mandatory or relevant to all properties, an appropriate document for any property transaction will be determined by the nature or circumstance of the property.
✅ 𝐏𝐔𝐑𝐂𝐇𝐀𝐒𝐄 𝐑𝐄𝐂𝐄𝐈𝐏𝐓
A land purchase receipt is a normal receipt or document reflecting the receipt of payment for a particular property or land. The seller issues the receipt to the buyer. However, the receipt does not transfer the title of the land.
✅ 𝐂𝐎𝐍𝐓𝐑𝐀𝐂𝐓 𝐎𝐅 𝐒𝐀𝐋𝐄 𝐎𝐅 𝐋𝐀𝐍𝐃:
This document is used to show an agreement of sale of land from the seller to the buyer. It is relevant when any property is being purchased by anyone. It is not an instrument of the township and must be preceded with other documents transferring title in the applicable property.
✅ 𝐒𝐔𝐑𝐕𝐄𝐘 𝐏𝐋𝐀𝐍:
A survey plan is used to show the location and size of landed property. With the descriptions and coordinates on the survey document, it is easier to check or search from the office of the Surveyor-General whether the land is actually under any government acquisition or not. It is most times called a registered survey.
✅ 𝐃𝐄𝐄𝐃 𝐎𝐅 𝐀𝐒𝐒𝐈𝐆𝐍𝐌𝐄𝐍𝐓:
Deed of Assignment or Deed of Conveyance is used in sales transactions to permanently transfer a landed property from the seller (also known as assignor) to the buyer (also referred to as assignee). It must be drafted by a lawyer, and signed by the seller, buyers and their witnesses. In simpler terms, it transfers the title or ownership of the land or property from the seller to the buyer. Without a deed of assignment, you don’t own the land.
✅ 𝐂𝐄𝐑𝐓𝐈𝐅𝐈𝐂𝐀𝐓𝐄 𝐎𝐅 𝐎𝐂𝐂𝐔𝐏𝐀𝐍𝐂𝐘 (𝐂 𝐨𝐟 𝐎):
This is usually issued by the state government, indicating that a person owns a parcel of land or property. It is issued to individuals or companies. State governments also give it to the allottee of the government’s land. An Individual who subsequently takes over land by way of sale does not require a new certificate of occupancy but rather a deed of assignment with the governor’s consent.
This document last for 99 years, and can be renewed.
✅ 𝐃𝐄𝐄𝐃 𝐎𝐅 𝐌𝐎𝐑𝐓𝐆𝐀𝐆𝐄:
A deed of mortgage is used in mortgage transactions to show that land or property has been transferred from the mortgagor (borrower) to the mortgagee (lender). It is a temporary transfer in the sense that the mortgagor shall be entitled to retrieve this property back from the lender when the total loan amount, together with the accrued interest, has been paid.
✅ 𝐃𝐄𝐄𝐃 𝐎𝐅 𝐆𝐈𝐅𝐓:
It is a document that proves that land or property has been gifted from one person (Donor) to another (Donee). A deed of gift can be used to transfer interest in a landed property.
✅ 𝐉𝐔𝐃𝐆𝐄𝐌𝐄𝐍𝐓 𝐎𝐅 𝐂𝐎𝐔𝐑𝐓:
The judgment of a court is another essential document which may affect or transfer an interest in a specific property from one person to another. In Nigeria, the legal interests in several properties have been transferred from one person to another through the decisions of various courts. When property ownership has been derived through litigation or any property has been subjected to a lawsuit, it is essential to examine the full decision of the court in respect of such property by obtaining a copy of the judgment.