Land documentation

WHO PAYS WHAT? • For a landlord occupying his house with his family (no tenant). Your annual fee is 60 per cent of the value of the house × 0.076. For instance, if your house is valued at N20 million. Your fee is 0.076 per cent of (60 per cent of N20 million) is 0.076 per cent x N12 million which is N9, 120.00 per annum. • If you rented out the house to tenants only and you don’t live there and the house is worth N20 million. You will pay 0.76 per cent of (60 per cent of N20 million) is 0.76 per cent of N12 million is N91, 200.00. • If you are a landlord living with your tenant in the same building of the above value. You will pay 0.256 per cent of (60 per cent of N20 million) is 0.256 per cent × N12 million is N30, 720.00. HOW IS THE LAND USE CHARGE CALCULATED? Similar to the 2001 Law, the LUC Law calculates Land Use Charge by multiplying the market value of the property (i.e. the sum of land value and building development value) by the Annual Charge Rate....

       1.   The Land Use Charge, which is payable annually, is described by the LUCL to be a consolidation of all Property and Land Based Rates and Charges imposed on all non-exempted real properties located in Lagos State.  2.        The LUC Law provides that ‘owners or occupiers of a lease’ are liable to pay Land Use Charge. The law also identifies both occupiers of leases of less than 10 years and occupiers of leases of 10 years or more as liable to pay Land Use Charge. This is a notable change from the 2001 Land Use Charge Law which made this an owner liability. ‘Occupier’ is defined to include both lawful and unlawful occupiers of the whole or part of property, and only excludes lodgers (being licensees). 3.        Furthermore, the change in the LUC Law to extend liability for Land Use Charge to occupiers of land means that Land Use Charge is no longer identified as an ...

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Still in the spirit of Nigeria's 58th Independence,   The independence House is a 25 storey office building west of Tafawa Balewa Square, Onikan Lagos.   The project was commissioned by the British government as a testimonial to Nigeria's independence in 1960. The building is built of reinforced concrete; it once housed the Defense headquarters under the Babangida administration and was known as Defense House.   In 1993, portions of it caught fire and since the incident, the bui lding has not been managed properly. Apart from Land documentation and title perfection services, we also provide consultation and advisory services with regards to Land and Property acquisition in Lagos and Nigeria as a whole. Contact us Today at www.amanroyalpartner.com Email address: info@amanroyalpartner.com Tel: 08186093347, 08186093379, 08186093357 or Head Office:   Nigerian Law Publications House, Otunba Jobi Fele Way, C.B.D. Alausa, Off Agidingbi, Ikeja...