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.
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Law have all been repealed.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said repealed laws remain valid.
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.
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.
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.
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.
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