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5 Things To Know About The Lagos State Lands Registration Law.: Real Estate : Nigerialog.com - Nigeria's Premier Online Forum

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5 Things To Know About The Lagos State Lands Registration Law.

By: Gideon |Time : July 05, 2017, 11:03:08 AM

The simplicity with which Title to real properties is perfected enhances the property rights enjoyed by private persons as well as corporate in any country. Land acquisition and security of title and interest in land (as guaranteed by perfection of title), is fundamental to the harnessing of investments, expansion of businesses and the growth of economies.
1. When was it enacted?
The Lagos State Land Registration Law was enacted on 21st January, 2015. It became the comprehensive legislation on land registration and replaced all the previous legislation on the matter. Therefore, the Registered Land Law, Registration of Titles Law, Land Instruments Registration Law and Electronic Documents Management Systems Law have all been repealed. However, any title or rights registered under the said repealed laws remain valid.

2. Why it was enacted?
The law was enacted to strengthen the hand of Government in the administration of the Land Use Act and to enable Lagosians have easy access to register their proprietary interest in land effortlessly.

3. Lagos State Land Registry:
The land registry in Lagos is currently the most developed land registry in Nigeria. The registration of instruments affecting land in Lagos dates back to 1863 which was a paper based system, and has now been improved to an Electronic Document Management Solution (EDMS), because of the problem of storage facilities and rampant corruption.

4. Efficiency of the Law:
The law seeks to guarantee genuine land title documents that have been investigated and registered by the Registrar of Titles. The law further encouraged all those involved in any land transaction to investigate the validity of the title documents of the land at the appropriate land registry where there exists a copy of the registered title document of the land before embarking on concluding the deal.

5. The aim of the law:
It is to substitute a single established title guaranteed by the state for the traditional title which must be separately investigated before purchase. And, must be proved by several documents of title each time the title is in issue. Transactions in respect of registered land such as leases, creation of charges and transfer of interest in land are also required to be registered.
Source:Moi

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