“Government has no other end, but the preservation of property” -John Locke
Section 22 of The Land Use Act of 1978 states that; “it shall not be lawful for the holder of a statutory Right of Occupancy granted by the Governor, to alienate his Right of Occupancy or any part thereof by assignment, sublease etc. without the prior consent of the Governor”.
Without a registered deed, title or lease, the owner cannot leverage the land as collateral to take out a loan that might be used to start a business or improve the property. Untitled land represents trapped capital that could be accessed to stimulate the local financial market with micro finance loans and mortgages.
However, gaining access to this trapped (Hidden) capital requires formal recognition of these land owners property rights. It is important to note that as a formal land rights owner, it gives you an address and sense of identity.
Are you contemplating to buy land or you have bought landed property and you have not changed the name of the original allottee (land owner) to your name?
Contact us today for more information and assistance on how you can promptly commence and complete the registration of your title.