Some Hidden Secret you need to know about Land Title Before you put your hard-earned money in it (REAL ESTATE REVELATION SERIES 9)??

Some Days ago, one potential Property investor asked me the above question???

“What's excision in process?”

let me start explaining this question by stating land use act of 1978 (formerly know as Land Use Decree of 1978):

An Act that vest all land comprised in the territory of each State (except land vested in the Federal Government or its agencies) solely in the Governor of the State, who would hold such land in trust for the people and would henceforth be responsible for allocation of land in all urban areas to individuals resident in the State and to organizations for residential, agricultural, commercial and other purposes while similar powers with respect to non-urban areas are conferred on Local Governments

According to 1978 land use ACT, stated that all lands belong to the government. To use any land for any private/individual use, the government need to release that land to the community or indigeneous owner that owns that land through a process called *excision*

?I presume the question that may be popping up in your head right now is

what is excision ?

Excision is the process of taking a part from a whole of a land and that part that has been EXCISED will be recorded and documented in the official government record of the state called GAZETTE.

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Furthermore, it is the process whereby the government releases a parcel of land back to the indigenous owner and such land can be use for the purpose of residential and commercial developments.

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Excision is the right of the communities or the ancestral owner as the 1978 land ACT recognizes that ancestral ownership of land but also it is the right of the government to regulate how excision is been granted to the villages applying for excision.

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In other side what is Excision in process land is land that is still undergoing the process called Excision. excision in process means, the application has been submitted and govt is in the process of releasing the land to the applicant.

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The following are the process of applying for Excision:

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Firstly the process of taking Excision from the government started from a applying or submitting an application to the land ministry.

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But Before you apply or submit application for excision, the applicant would have done a Land search or Due Diligence to determine if the land is free or committed.

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I know some of my readers will want to know more about Committed and free land, Committed Land means a land that government show interest in such land are used for public uses such as building of hospitals, schools or any public infrastructure in the future hence govt will not grant excision on any committed land.

?While Free land in the other side means Land that government has no interest that show the land is free from any encumbrances.

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After applying for excision from ministry. The applicant will be given a file number called KL no. With KL no, the applicant can verify the stage of the excision from Land ministry anytime.

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Any land with KL no has 90% probability of the excision being granted. It's just a matter of time.

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Most time, excision approval is politicized by the government. They normally grant it during election campaign so as to seek votes or favors from the communities that the excision covers.

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?What are the advantage of Land with Government Approved Excision

1. The title has undergone legal processing and approval. _
2. It mitigates the risk of losing the land in the future.??
3. The owner can feel fully secure in their ownership of the land.
4. There are no significant long-term challenges associated with this type of title.

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Highlighted below are some basic facts you need to know about excision in process land.??

FACT #1: Excision in Process is not a Land Title

Often times I see in some real estate companies advert that a land title is Excision in process. Well before Excision title can be granted to a land, it must undergo the process but it is not a criteria to give such land the title of an excision.

It is in the power of the government to decide if excision will be granted or not to a particular excision application.

FACT #2: Excision Application is 50/50 Chances

Most real estate companies selling excision in process land will never tell you this even though it’s a risk too on the companies selling. It is not all excision application submitted to the land bureau that is granted even when the land in question current status is not committed for any government purpose.

The fact that a KL file number has been given at the Land ministry does not guarantee that excision will be granted.

FACT #3: You Can’t Get a Red Copy Survey on Awaiting Excision Land

Do not be deceived,?survey drawn for land awaiting excision cannot be lodge at the surveyor general office because the land does not have an approved land title.

FACT #4:?You Can’t Build on Land Awaiting Excision

Buildings erected on an excision in process land stand at a risk of being pull down by the government of the state.

As I have said earlier, the government recognizes the indigenes have a right to existence, a right to the land of their birth and by default is expected to cede a portion of land to them. The natives are expected to do whatever they wish with the portion that have being ceded to them, any actions outside this can result to the government taking actions that may not be favorable to the natives and investors alike.

FACT #5:?In an Excision Application, the Total Area of Land Applied For is NOT Always Granted.

What this simply means is that if a community applied for 50 hectares of land to be excised, the government may decides to grant 30 hectares.

Now the implication of this actions for real estate companies that bought land from this community is that the 20 hectares that was not granted will lose their lands.

Some real estate company may compensate its subscribers by relocating them to another location different from the ones they initially subscribed for.

One sweet thing about land awaiting excision is that it comes cheap and capital appreciation is certain if excision is fully given. Therefore real estate subscribers should understand the risks involved

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Furthermore when excision is given or granted then the land is no longer under government acquisition and such landed owner can go on and process their CofO (Certificate of Occupancy) .

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And to all Prospective clients or Real Estate Investor, it advisable you purchase property with GOVERNMENT APPROVED EXCISION not land with Excision in process.

in my further Article, i will be explain a property with Government Approved Excision, kindly subscribe to my newsletter to enjoy

And if you are planning to invest in Real estate, kindly contact Realtor Akeem for your next Real Estate Investment, you get started today by call 09035487771 or click on the link below

??https://bit.ly/3bmXUIR??or message us @ [email protected].

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