Requirements For Processing Governor's Consent
In this comprehensive guide, we will burrow into the intricacies of obtaining Governor's Consent for your land transactions in Lagos State. The requirements and workflow presented here are a byproduct of the Lagos State Government's guidelines, as outlined in the handbook of activities from the Directorate of Land Services during Governor Ambode's Administration.
Requirements for Processing Governor's Consent:
The foundation of obtaining Governor's Consent is a well-prepared set of documents. Consider this your roadmap to success:
1. Duly Completed Land Form 1C
Begin your journey by filling out Land Form 1C in its entirety. This document acts as the gateway to your application.
2. Certified True Copy (CTC) of Root of Title
Present an authentic Certified True Copy of the root of title to establish the ownership history.
3. Deeds/Instruments of Transfer (3Nos.) with Clear Survey Plans
Provide three copies of Deeds or Instruments of Transfer, each accompanied by clear and precise survey plans.
4. Passport Photographs
Four passport photographs (5x5 size) with a white background, capturing your identity professionally.
5. Certificate of Incorporation and Form of Directors
For company applications, include the Certificate of Incorporation and forms that detail your company's directors.
6. Site Photographs and Location Sketch
Offer a visual representation of your site through photographs, along with a location sketch for context.
7. Payment Receipt
Provide a receipt of payment amounting to NGN 10,500.00, covering charting, endorsement, and Form 1C processing.
8. Letter of Authority and Covering Letter
If applying on behalf of the landowner, a Letter of Authority is required. Accompany this with a comprehensive covering letter detailing your contact information.
Workflow for Governor's Consent
Now that we have the requirements in place, let's traverse through the workflow:
1. Submission of Application
Begin by submitting your application along with the required documents to the Directorate of Land Services.
2. Demand Notice Issuance
A Demand Notice is issued to the applicant, specifying the applicable Fair Market Value (FMV) based on location. This value is determined by Lagos State Official Gazette No. 10 Vol. 48 dated 5th February, 2015. The FMV comprises 3% aggregate, broken down as follows:
• Consent Fee: 1.5% of assessed value.
• Capital Gains Tax (CGT): 0.5% of assessed value.
• Stamp Duty: 0.5% of assessed value.
• Registration Fee: 0.5% of assessed value.
• Neighbourhood Improvement Charges (N.I.C) assessed for private and excised lands based on size and years of relevant title.
3. Assessments for Mortgage Transactions
For mortgage transactions, the assessment structure varies, including Consent fee, Registration fee, and exemptions for Capital Gain Tax.
4. Receipt Submission
The applicant submits all payment receipts as evidence of payment.
5. Release of Registered Deeds/Instruments
Upon successful completion of the process, the registered deeds/instruments are released to the applicant.
At this juncture, it is important to note that this pivotal step solidifies property ownership, guarantees legality, and safeguards against potential disputes. And just as your voyage doesn't end with a single destination, land titles doesn't stop at Governor's Consent. Here's where the School of Estate shines as your celestial guide. By enrolling in their Real Estate Development Course, you're opening the door to a universe of understanding.
Specifically tailored for developers or prospective developers, the School of Estate's Real Estate Development Course empowers you with the practical skills and insights needed to thrive in this competitive industry. From project feasibility assessments to legal intricacies and market trends, this course equips you with the knowledge to make informed decisions and steer your development projects towards success.
Yet, there's more to this journey than meets the eye. With School of Estate, developers gain not just insight into titles and their roles, but an entire toolkit to navigate the complexities of real estate development. Enrol today!
