PERFECTION OF TITLE IN OYO STATE

INTRODUCTION

Perfection of title to Land is an essential process a purchaser of land must undertake upon acquisition of a landed property, as the ownership of a property does not automatically vest in the purchaser after paying the agreed consideration and signing the Deed of Assignment or any other instrument of transfer. A property purchaser must ensure that he/she takes the registration of his/her title very crucial in order to secure the his interest and also to confer on him legal title in the land/property after purchase.

WHAT DOES PERFECTION OF TITLE TO LAND INVOLVES?

This involve ensuring that matters relating to ownership, possession or other rights in a land or property are registered with the requisite government agency so as to obtain evidence of title, protect transactions, and prevent illegal disposal and transfer of rights in a property. Perfection of title to a landed property implies that the holder of a title deed has title to that land and can pass a legal estate in the land to another party. Thus, it is germane that a purchaser perfect his title to an acquired land, to avoid the risk of losing the property to another purchaser who has taken the needed steps to perfect his title in the same land.

WHY IS PERFECTING A TITLE TO LAND ESSENTIAL?

A purchase of a landed property must seek his/her best interest by perfecting the title to the land. The followings are the benefits of perfecting a title to land.

• Once a purchaser perfects his/her title to a land, it announces his/her ownership of land of the land to the world. The owner of the title can prove his owner by presenting the duly registered title document which is called ‘Certificate of Occupancy’ (C of O) or a registered deed of assignment.
• Like the current state of things relating circular road in Ibadan, when a title to land is duly perfected, the title holder is entitled to receive compensation in the event of a public acquisition or demolition by the government.
• Perfecting a title to land protects the holder of the title against fraudulent sale or transfer to another purchaser.
• Where a land title is duly perfected it translates into a public document, and in the event of fraud or damage to the property, the title holder could always apply for a certified true copy (CTC) of the title document from the land registry.
• A duly perfected title gives the holder an advantage of applying for loan from financial institutions as this can be deposited with a financial institution or lender as proof of ownership of a property as a collateral for loan.

 WHAT ARE THE DOCUMENTS NEEDED FOR PERFECTION OF TITLE TO LAND IN OYO STATE?

 When it comes to perfection of a title to a land in Oyo state certain number of documents are needed. After the drafting, review, and execution of the necessary documents by the purchaser and the vendor, other necessary documents are to be submitted to the Lands registry at the Oyo State Ministry of Lands, Housing and Urban Development located at the State Secretariat, Agodi Ibadan. At this juncture the service of a legal practitioner is crucial because of the sensitivity of the transaction.

The following are the preliminary documents needed to initiate the application for the perfection of the title in Oyo state:

• Application Letter addressed to the Director of Land Services
• Receipt of payment of the application fee
• Original copy of the land agreement
• Photograph of property (which must be in black and white colour)
• Registered survey plan capturing the exact size and dimensions of the property
• Tax Clearance Certificate for 3 years
• Original Title Document (for sighting)
• Means of identification of the purchaser and the vendor
• Evidence of payment of special levy for C-of-O

PROCEDURE FOR PERFECTION OF TITLE IN OYO STATE

Below are the requite steps to be taken at the Oyo State Ministry of Lands, Housing and Urban development:

• Application with Accompanying Documents are to be submitted to the Director of Land Services at the land registry.
• The application is referenced for identification purposes
• The applicant proceeds to the Office of the Surveyor-Generalfor Charting and Endorsement are Issuance of Demand Notice at the Accounts Office
• The applicant pays assessed fees and treasury receipts is issued which is forwarded to the Accounts Department
• Approval and Endorsement of Documents by the Governor/Commissioner
• Stamping of Documents
• Registration of Documents
• Collection of all registered documents at the Lands Bureau

At this stage, there is need for a lot of patience as there are some common bureaucratic holdup that delay the perfection of the title application. These include a delay in payment of assessed fees by the applicant, delay in getting some documents stamped and lot more.

CONCLUSION

The process of perfecting title land in Nigeria cannot be overemphasized as only a registered title deed can vest legal title over a property. Thus it is important that a purchaser or an owner of a property takes due diligence to make sure that he registers his title deed to protect him/her against any competing interest.

Mosinmiloluwa Ayodele