LAND OWNERSHIP AND TITLE IN NIGERIA 3: TITLE DOCUMENTS
Today we are looking at the advantages and benefits of having a registered title document in Nigeria.
- Registration is a presumption of land ownership in your favor against every other person who lacks a better title. Your registered instrument rank in priority according to the order or date of registration.
- Registration is an indication that the land is encumbered by you, any subsequent purchaser would be aware upon investigating the title at the Lands Registry.
- In the case of a dispute, only a registered title document is admissible to prove ownership in a court of law. A non-registered title document can only be used as an evidence of payment but not as an evidence of good title.
- In the case of compulsory acquisition by Government for overriding public interest, you will be prioritized to receive compensation from Government for the loss of the property.
- A registered title document can also be used to secure a loan facility from commercial banks.
Where the title remains unregistered, the interest of the owner is in equity and not legal. In light of the forgoing it is advised that every land owner should endeavor to register his or her title in order to have legal interest which is the best interest to have in a landed property.