Imart Realtors | Investing III: How To Understand Land Title And Documents
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Investing III: How To Understand Land Title And Documents

Investing III: How To Understand Land Title And Documents

Do you know that it is very vital to understand various Land titles and documents even before investing? It is of paramount importance. Apart from the well known titles like “C of O”, we also have other Land titles people aren’t aware of.

During the course of day to day activities with clients, I get to meet some that says “If it is not C of O,I am not interested”. Guess what? C of O is not for ever, it is for 99 years from the date it was issued (link here for more details on this ).

However, there is a Land title which from research tends to have a longer life span compared to C of O but it is not common, It is called “Freehold”. What is Freehold as regards Land titles and documentation?

Freehold property can be defined as any property/land which is “free from hold” of any entity besides the owner. Hence, the owner of such a property/land enjoys free ownership for perpetuity and can use the land for any purpose. 
Freehold property is inheritable and there are no restrictions on the right of the property owner to further transfer the property. In a free hold property, there is no encumbrance to the absolute title of the property.  Free hold property can be inherited by a legal guardian. A freehold property can be transferred by registration of sale deed.

From the explanation above, while a property with C of O last for 99 years in terms of ownership, that of Freehold has no time limit. So which would you rather go for?

Freehold is rarely practised in Nigeria and the moment you see a freehold property, it is advisable you take advantage of it. One of sure which comes highly recommended is this located in Epe, Lagos state, Nigeria.

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