Lagos outlaws Omo-Onile, sets up 5-man task force

Lagos State government on Monday warned that it is set to visit the activities of land grabbers, also known as Omo-onile, in the state with full wrath of the law. The warning was delivered by the government through the state Attorney-General and Commissioner for Justice, Mr Adeniji Kazeem who said the state is ready to apply the full wrath of the law on anybody caught forcibly taking another person’s land in the state.

Synagogue Contractors Released From Kirikiri Prison

Weeks after they were granted bail by the court, the contractors that handled the construction of the collapsed Synagogue, Church of All Nations (SCOAN) building, Akinbola Fatiregun and Oladele Ogundeji, were on Monday 20 June, 2016 released from the Kirikiri Maximum Prisons after meeting all their bail conditions.

The two engineers had been remanded in prison pending trial for alleged manslaughter and criminal negligence, charges levelled against them by the Lagos State Government. Following the ruling of the judge that they be remanded in prison custody, their bail application was filed and subsequently granted, although meeting its conditions took a while due to their stringent nature. Having been released, the engineers are expected to be in court for the continuation of their trial.

Meanwhile, at the resumed trial last week, counsel to defendants cross-examined the witness representing the Nigerian Building and Road Research Institute (NIBRRI) and the Council of Registered Engineers in Nigeria (COREN), Engineer Victor Oyenuga.

Lateef Fagbemi (SAN) pointed out to the witness the fact that there is no proof of any correspondence between NIBRRI and COREN regarding the report of the committee said to have been set up by COREN which suggested structural faults were responsible for the tragic incident.

Photo - nigeriarealestatehub.com

How N3,750 can save you from losing millions of naira

There is no denying the fact that thousands of scammers out there are reaping from the ignorant with non-existent properties or properties that have so many encumbrances. It therefore goes without saying that you conduct a search on that property/land before you make any financial commitment because if you do not, that land/house you bought for millions or even billions of naira might not actually be yours.

Photo - dacare-legal.com

Limitations of the Nigerian Conveyancing Law Practice

LIMITATIONS OF THE NIGERIAN CONVEYANCING LAW PRACTICE

ARE AS FOLLOWS:

1.Multiplicity of Laws

2.Illiteracy

3.Failure of purchasers to consult solicitors until very late in the transaction

4.Professional incompetence and lack of diligence amongst lawyers

ADVERT: NEW OFFICE COMPLEX FOR LEASE AND AN OPTION FOR OUTRIGHT SALE AT ALLEN AVENUE, IKEJA

A newly built 9 storey office complex along the ever busy Allen Avenue road is availble for lease.

DETAILS:
An architectural piece of premium office complex having Nine (9) floors measuring:

Photo- lagospropertylawyer.blogspot.com 

What goes around comes around

LIFE IS TURN BY TURN !!!

Some 10years ago, Diego Simeone played alongside Fernando Torres at Atlectico Madrid in Spain.

Then, Torres was the Club Captain despite being far younger than Simeone; Torres was in charge of the dressing room in the absence of the coaches. He was so influential that he even had a say on the team selection.

Photo- mesmerizingqoutes.com

Fast forward 10years later; Diego Simeone is now Fernando Torres coach. This came at a point when Torres had journeyed from Spain to England & Italy with his career almost dead as he has being rejected by Chelsea & AC Milan.

But Diego Simeone brought him back to Altectico Madrid & thus resuscitated his career.

Real Estate versus Vision 2020

For some Nigerians there seem to be little hope left of the so called Vision 2020 which is aimed at positioning Nigeria as one of the top 20 economies in the world. This article takes a critical look at the present economic realities, effects of technological advancement and how all of these will affect real estate in Nigeria in the golden year of 2020.

Photo Credit - youtube.com

Nigeria Real Estate Laws, What the law says....

THE-LAW

Real estate law Lagos Nigeria –

Nigeria real estate law is a combination of so many laws that regulate the real estate industry in Nigeria. These laws are many as you will expect for a nation as big as Nigeria.

Obviously, we cannot consider all of these property laws here. But some important and critical ones are worth mentioning to keep you well informed so you can make the right choices, make the right investment, and make money. It also ensures you don’t make the sort of mistakes that can cost you your real estate investment in the long run.

Photo Credit - michaelkrivalesq.com 

It is important to note that this is not a legal site and so the laws will be explained in simple terms so the average person can understand them.

Lagos and Dubai signs Smart City deal

The Lagos State Government and the City of Dubai have entered into a historic partnership. This epoch making partnership will see Lagos emerge as the first Smart City in Africa.

The Memorandum of Understanding for the Lagos Smart City was signed on Monday at the Emirate Towers, Dubai, by the Lagos State Attorney General and Commissioner of Justice, Mr. Adeniji Kazeem and the Chief Executive Officer of Smart City Dubai LLC, Mr. Jabber Bin Hafez.

Photo Credit- @AkinwunmiAmbode 

Means of Acquiring Land in Nigeria

MEANS OF ACQUIRING LAND IN NIGERIA

 1.Customary Law-     SADIKU V.DALORI; NELSONV. EBANGA 

2.Government Allocation-State grant-      ISERU V.CATHOLIC BISHOP OF WARRI DIOCESE

3.Purchase/Sale/Assignment

Photo Credit - grain.org 

4.Gift Intervivos(By deed of gift)

ISOLO : A commercial block of flats on a plot of land for sale on a major road

This is a commercial property on a busy and major road at Isolo with a Block of Flats on it and lots of shops too. It's a very good opportunity for investors to seize this opportunity to buy this property, majorly it's location for commercial ventures like Banks, Event Centres, Hotels, Filling Station, Schools, Church, Warehouse  or even a Gas Plant

MAGODO ISHERI 5 BEDROOM SEMI-DETACH DUPLEX FOR SALE

Distress Sale !!!

This property is a twin duplex and the current market value is about #60 million, but the owner is willing to sell at a distress value rate of #40 million. This is one of the rare opportunities in Real Estate for any wise investor to key into at this moment.

The Impossible Brief Planet

"The Impossible Briefs Planet"

Credit - d2r4pw5uddxm3r.cloudfront.net 

I'm sure you have received requests like "Filling Station in VI or Ikoyi; Open Budget; Buyer wants to inspect first thing tomorrow morning"? 

Just as you have also seen "Request for 10,000 sqms JV in Victoria or Ikoyi; No Premium; only direct mandates should contact me?"

Welcome again, to one of our everyday realities - "Agents coming to the market with impossible requests" yet going about reposting the message in 2,000 WhatsApp groups to be reposted to 1,000,000 agents all over town

Root of Title

ROOT OF TITLE

This is a document of title which is sufficient in itself without any extrinsic evidence to establish the title to the land. This shows if the vendor has a valid right to sell the land and if it is unencumbered.

Credit - landsregistry-titledeeds.co.uk 

YABA: A Roomself To Let At Akoka

DIRECT INSTRUCTION TO LET:

Credit - lagospropertylawyer.blogspot.com

We have this very clean and decent newly painted room to let out of a 2 bedroom flat STRICTLY for a student most likely in UNILAG .

Who is a Beneficial Owner ?

What is a 'Beneficial Owner'

A beneficial owner is a person who enjoys the benefits of ownership even though title is in another name.

i.investopedia.com

Beneficial owner is a legal term where specific property right ("use and title") in equity belong to a person even though legal title of the property belongs to another person. Black's Law Dictionary(2nd Pocket ed. 2001 pg. 508). This often relates where the legal title owner has implied trustee duties to the beneficial owner.

The Covenant implied when a party to a transaction acts in a capacity as a beneficial owner

THE COVENANTS IMPLIED WHEN A PARTY TO A PROPERTY TRANSACTION ACTS IN A CAPACITY AS A BENEFICIAL OWNER

i.investopedia.com

ARE:S.7(b)CA 1881

1.He has the right to convey

2.He has given the purchaser the right to quite enjoyment and possession of the property

3.The property is free from any encumbrance and claims other than those disclosed.

Perfection of a Power of Attorney

PERFECTION OF A POWER OF ATTORNEY

Credit - lawnaija.com 

GOVERNOR’S CONSENT

Governor’s consent is NOT NEEDED as it is not a document transferring interest in land or the subject matter of delegation to the Donee. UDE V. NWARA

NB- Where Power of Attorney is used to alienate interest in land,it is registrable as an instrument and Governor’s consent must be sought and obtained.

Power of Attorney in Nigeria

POWER OF ATTORNEY IN NIGERIA

Credit- lawnaija.com

MEANING- Power of Attorney is a document usually but not always necessarily under seal whereby a person seized of an estate in land authorizes another person (the donee) who is called his attorney to do in the stead of the donor anything which the donor can do, lawfully usually clearly spelt out in the Power of Attorney.

LEKKI : 6 BEDROOM DETACHED MANSION FOR SALE

6 BEDROOM DETACHED MANSION FOR SALE

The picture above is that of an adorable 6 Bedroom Exquisitely Finished and Furnished Detached House + 1 room Boys Quarters on 800m2 Land just along Mobil Road , and immediately below is a picture of my good self (Barr. IMAGIN) in the compound.

This property is located in a very peaceful and serene environment with a spacious compound, other features includes:

A Waiting Room

2 Sitting Rooms (Up and Down)

Cute Staircase

Well Fitted Kitchen

Massive Rooms

Field Size Master Bedroom

Nice Horticulture

Security Room

Wine Bar

Well fitted Air Conditioning units

TV in all Rooms

Massive and Beautiful Wardrobes

Ample Car Park with a Car Port

Collapsible Swimming Pool

1 Room BQ

Wired ready CCTV installations

Wired ready Intercom

Also Smoke Alarm detector

Etc...

Location: Off Mobil Road, Lekki-Phase 2

Land Size: 800 Square Metres

Title: Global C of O and Governor's Consent

Price: N150M (open to negotiation)

For Further Enquiries, Please Contact the Solicitors on 08075142528 (WhatsApp) / pin:2B24347D 

...READ MORE HERE

 Thank you for reading, If you find the post helpful, I’d love to hear your thoughts in the COMMENT box/thread. Also, don't forget to SHARE with your social media friends, family, colleagues, church members, neighbours and everyone in your world, who you think might find this information useful.. Lastly SUBSCRIBE to our blog via Email to get the latest updates directly in your mail box for FREE. Your email address is safe with us! SUBSCRIBE HERE !!!

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 Barr. IMAGIN

Believe in yourself

BELIEVE IN YOURSELF!!!

Credit - popularvegan.com 

If TECNO could ping before NOKIA. Who told you that all your mates who started work before you would make it before you?

If CIVIL DEFENSE could carry gun before ROAD SAFETY. Who told you it's by how far? It's by how well.

If GARRI could sell more than INDOMIE after all the adverts. Who told you that you must dress indecently to attract men?

If Ex-President JONATHAN didn't have shoes before he became the President, but now wears different shoes per hour. Who told you that you would continue being poor?

If tomatoes can be more expensive today than apple... who says you are less important than your friends who schooled abroad because you schooled in Nigeria?

If Yahaya Bello can become Kogi State Executive Governor after losing in primary election who says your story can not change for good?

If they could tie a COW with just a rope despite its size, but must use a strong chain to hold a dog? Who is that person that says you are worse than nothing?

Don't worry too much about your current situation, just believe in yourself.

- Anonymous 

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Thank you for reading, If you find the post helpful, I’d love to hear your thoughts in the COMMENT box/thread. Also, don't forget to SHARE with your social media friends, family, colleagues, church members, neighbours and everyone in your world, who you think might find this information useful.. Lastly SUBSCRIBE to our blog via Email to get the latest updates directly in your mail box for FREE. Your email address is safe with us! SUBSCRIBE HERE !!! 

 JOIN US HERE !!! 

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#LagosPropertyLawyer 

 Barr. IMAGIN 

Why first class students may never become first class people in life

Unimpressed by the level of emphasis the society pays on the pursuit of academic excellence, Prof. Abletor Sedofia from the University of Ghana had this to say:

Credit- techtyrants.com

“Academic excellence is overrated! Did I just say that? Oh, yes, I said it. Being top of your class does not necessarily guarantee that you will be at the top of life. You could graduate as the best student in Finance but it doesn’t mean you will make more money than everybody else. The best graduating Law student does not necessarily become the best lawyer. The fact is life requires more than the ability to understand a concept, memorise it and reproduce it in an exam. School rewards people for their memory. Life rewards people for their imagination. School rewards caution, life rewards daring.

Essentials of a valid lease

ESSENTIALS OF A VALID LEASE

Credit- k-state.edu

OSHO V. FOREIGN FINANCE CORPORATION ANDANOR;INT’L TEXTILE IND. (Nig) Ltd v. ADEREMI

1.CERTAINTY OF TERMS:

The terms of a lease must be certain or ascertainable.

The commencement date and the expiration date must be expressly stated

RATIONALE-This is because the lease can not enure in perpetuity-LACE V. CHANTLER

UBA V. TEJUMOLA AND SONS LTD;

NB-The terms in the lease were held ascertainable as they were dependent on future contingencies certain to take place.

Real Estate Investments and Rent Control Laws of Nigeria

Continuing increase in population especially in the urban areas of Nigeria has led to astronomical increase in the demand for affordable housing whilst the supply side remains for the most part underdeveloped and unable to meet growing demand. Attempts by the Nigerian government to increase investments in the real estate side of the Nigerian economy have remained unsuccessful as a result of the following factors:

Credit- pressdemocrat.com

a. Expensive, cumbersome and complicated land tenure and transfer of legal title in land procedures.

b. Expensive cost of funds with high interest rates for construction and mortgages in comparison to the long term rentals expected by an investor in the real estate market.

c. Rent control legalisation for the mass residential rental market.

d. High rate of Tenants default in paying their rentals on schedule due in some cases to diminishing purchasing power.

e. Technical, cumbersome and expensive recovery of possession of premises legislations.

The effort of the Federal Government of Nigeria to address this problem by proposing a Rent Control legalisation has met with criticism as a result of the failure of the supply side of the real estate market and also, the failure of prior and subsisting Rent Control legislations and home ownership schemes to address the problems of minimum housing in Nigeria.

This Alert would provide up-to-date legal information on the last two factors of rent control and recovery of possession of premises which have and continue to challenge and inhibit investments in the real estate market.

Rent Control Law

Rent Control is a residual matter under the 1999 Constitution. As a result, most of the States inNigeriahave their individual Rent Control Laws which for the most part have similar provisions as the Rent Control Law of Lagos State.

In Lagos State of Nigeria, the applicable Law is the Lagos State Rent Control & Recovery of Residential Premises Law, 1997 (Lagos Rent Control Law).

The Lagos Rent Control Law is intended to mandatorily regulate the rentals that can be charged for residential apartments in certain areas of Lagos State whose residences were at the time of the enactment of this Law not charging annual rental value in excess of N250,000 (Two Hundred and Fifty Thousand Naira).

This Law prescribes the standard rent for each type of residential accommodation in different locations of the State with the caveat that the standard rent shall only be subject to upward review of not more than 20% every three years or at such other duration as the Governor of Lagos State may prescribe.

The Lagos Rent Control Law makes it unlawful for the Landlord or his agent or the Tenant to demand or pay rent in excess of the standard rent. It is also unlawful for a Landlord to demand or receive the prescribed standard rent for a period in excess of six months from an incoming/new Tenant. Equally unlawful is the action of a sitting Tenant offering to and paying the standard rent in excess of a period of three months in respect of any type of residential accommodation to which the Lagos Rent Control Law applies.

Any person who receives or pays rent in excess of the standard rent that is prescribed by Law is guilty of an offence and liable on conviction to a fine of N50,000.00 (Fifty Thousand Naira) or to a term of six months imprisonment.

Agency & Legal Fees

The Lagos Rent Control Law requires that Solicitors and estate agents must not charge more than 5% as Solicitors fees for preparing Tenancy Agreements and 5% as agency fees respectively. Where a higher percentage of fees is charged and received, it shall be unlawful. The penalty on conviction for this unlawful charge is a term of imprisonment for two years.

Recovery of Possession of Premises

Cases of abuses by Landlords in unlawfully evicting their Tenants necessitated the Rent Control & Recovery of Residential Premises Law of Lagos State, like prior legislations before it, to seek to protect all tenancies to which this Law applies.

The protection afforded tenancies by this Law is not intended to deprive a land owner of the fruits of his or her or its investment in real estate.

The protection only requires that a Tenant should only loose his tenancy after due recovery procedure and processes are complied with by the Landlord.

Where there is a default by a Tenant in respect of any aspect of his Tenancy and the Landlord intends to terminate the Tenancy and have possession of his property revert to him the Landlord, a proper notice to quit must be personally served on the Tenant. This is the first and most technical of the procedures for recovering possession of premises.

The length of notice to be given to a Tenant to quit is usually determined by the tenure of the tenancy where no express unequivocal provision is made in a written Tenancy Agreement to such effect. Thus, where the Tenant pays his rent on a weekly basis, a week's notice to quit would be valid.

Similarly, where the rental is paid monthly, quarterly, half-yearly or yearly, a month, quarter or half yearly notice as appropriate would be valid to determine the Tenancy.

It is mandatory that the notice to quit must be issued and served personally on the Tenant. It is also mandatory that the notice to quit must be served to expire at the anniversary or expiration of the Tenancy.

Thus, a notice to quit in respect of a tenancy that begins in January of a particular year and expires in December of the same year must be served on the Tenant on or before the end of June of that year so that from 1st July to the end of December of the same year, the mandatory six months notice would have been properly served on the Tenant. This was the holding of the Supreme Court of Nigeria in the matter of African Petroleum v. Owodunni (1991) 11-12 SC 56 @ 71 lines 5-15.

The inability of most Landlords to comply with the technical requirement of serving the statutory notice to quit to expire at the same time with the tenancy drew the displeasure of the Supreme Court in the above cited case where for twelve (12) years, the Respondent Tenant could not be evicted because the notice of eviction was not properly served by the Landlord on the Tenant.

The view of some Solicitors that a tenancy for a fixed term does not require a notice to quit but only a notice of the owner's intention to recover possession of his premises is too risky a position to implement should the matter be placed before a court of law for adjudication.

Unlawful Eviction or Recovery of Premises

The frustration with applying the legal process to evict an unwilling Tenant has lead to many Landlords attempting other unlawful procedures to evict such an unwilling Tenant whose tenancy has been properly determined in accordance with the Rent Control & Recovery Premises Law.

The Lagos State Rent Control & Recovery of Residential Premises Law prohibits any form of demolition, alteration, modification, harassment or molestation of a Tenant where the principal objective is the forceful ejection of the Tenant. Contravention of this provision by the Landlord or his agents or privies is an offence which on conviction attracts a fine of N20,000.00 (Twenty Thousand Naira) to N50,000.00 (Fifty Thousand Naira) and a term of imprisonment of three months.

Business Premises

Up-market residences, that are not listed in the schedule of the Lagos Rent Control Law, with business premises are regulated by the Recovery of Premises Law No. 9 of 1976 (Recovery of Premises Law).

The provisions of the 1976 Recovery of Premises Law are very similar to those of the 1997 Rent Control Law with the distinct difference being that business premises do not have a mandatory chap on what the land owner can charge as periodic rentals. Up market residences and business premises also have a higher rental collection history as opposed to downtown residences. Investors would therefore do well to ensure that all the provisions in relation to recovery of possession of premises are adhered to whenever the situation arises.

LagosMediation Centre

The Lagos State Government has established a Citizens Mediation Centre where disputes including those of Landlord and Tenant disputes are resolved through mediation. Where mediation fails or any of the parties refuses to submit to mediation, the parties would be advised by the Centre to seek redress in Court.

Conclusion

The provisions of the rent control and recovery of premises laws inNigeriahave been held more in disobedience than in obedience for many years as a result of the scarcity of new apartments or the maintenance of existing apartments.

The attempt to regulate rental values for properties inNigeriahas reduced the interest to invest in real estate inNigeria. Research also shows that rent control schemes in other parts of the world that are not indexed against market forces of demand and supply usually do not maintain the minimum acceptable human standards for good housing.

The Nigerian government must review the land tenure system in Nigeria such that the original owners of so-called communal land and private sector investors are able to collectively work towards meeting the developmental goals set for the people of Nigeria.

Source :https://www.proshareng.com/articles/Proshare%20Law/Real-Estate-Investments-&-Rent-Control-Laws-in-Nigeria./1612 

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Thank you for reading, If you find the post helpful, I’d love to hear your thoughts in the COMMENT box/thread. Also, don't forget to SHARE with your social media friends, family, colleagues, church members, neighbours and everyone in your world, who you think might find this information useful.. Lastly SUBSCRIBE to our blog via Email to get the latest updates directly in your mail box for FREE. Your email address is safe with us! SUBSCRIBE HERE !!! 

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 Barr. IMAGIN