*LAND TITLE DISCUSSION CONTINUE*❤❤ THE CERTIFICATE OF OCCUPANCY (C of O) The rush for a certificate of occupancy land or property today has reached an alarming proportion. Nowadays, people want c of o land by all means but has less budget to do so. Some even believe and erroneously assume that if a property does not have this title it's not genuine at all. This is incorrect. C of o was very popular then because investors use it to obtain loans from the Bank. But now all land titles are valid in the eyes of law. Some investors prefer Government Excision to c of o because it doesn't expire and it's freehold. What is a Certificate of Occupancy It's a legal land document issued by the State government (Governor) stating that it officially leases, for example, Lagos LAND to you, the applicant, for 99 yrs? It's the right of the government to do so because all LAND belongs to the GOVERNMENT. C of O is almost the same as the right of occupancy (R of O). The latter is usually granted by a Local Government Authority as defined as a customary right of occupancy. The definition is in Section 6 of the land use Act, a customary right of occupancy includes the right of a person or community lawfully using or occupying land by customary law for agricultural, residential or for other purposes. In some other states including FCT Right of Occupancy is always used instead of C of O As already indicated above, all lands belong to the government. A-C of O is the officially recognized document for demonstrating the right to land. The C of O is renewable when it has expired. Note that the duration depends on the State you're dealing with. In some states in Nigeria, it is not up to 99 years before it expires. C of O is C of O everywhere. When they said Global it means the C of O in question is issued to a community and it covers a very large expanse of land. According to Coach Spark Ovadje, a top real estate coach, there are two kinds of C of O in Lagos, a Global C of O which is usually issued to a community while the normal C of O is either individual or a body. #landtitle #cofo #cofoproperty #realestateindustry #mondaymotivation #mondayvibes https://www.instagram.com/p/CUCntkXsUvU/?utm_medium=tumblr