Interesting! Having watched two of your video clips, I can see you are resourceful. I have subscribed to your channel already. Hoping to view more informative videos from your stable
Good morning, thanks for your comment. Excision Block here in Nigeria is the same as an Approved Excision, difference being that Approved Excision is granted to a single community, while Excision Block is granted to multiple communites together. For example, Igando-Eleko has an Approved Excision, while Otoolu, Igbogun and Folu-Ise have an Excision Block. However, Approved Excision or Excision Block doesn't always cover all land in a community, so you still need to chart the coordinates to verify if the land you're buying fall within the excised area of an Approved Excision or Excision Block
Good morning and thanks for your comment, kindly note that an excised land is already released by the government, so I guess you mean a land with "excision in process", which has not been released yet. Sure, the government can decide not to release the land, although most companies selling "excision in process" boasts that if that happens, they will give you another land in another estate, definitely that process won't be seamless. My advice is that, if you want to buy an "excision in process" land, ensure in the contract of sale, the company include it there boldly, that you are liable for a relocation if the land is not excised. If you've bought an "excision in process" land already, in few years just sell it, never build on a land with excision in process.
Is true that people who buy estate property in Lekki or Ibeju Lekki can only own such property for only 50 years after which the land or house will revert back to the estate developer?
Good evening, no that's not true, that's merely a rumour, as long as a developer has signed a Deed of Assignment, the property no longer belong to them and they have transferred all rights on the property to you. Simply ensure the property has registered title i.e C of O, Consent, Gazette or Approved Excision, get the deed of assignment signed, take possession of your land and you're good
Registered Survey is different from Approved Excision, there is no assurance or guarantee that a land under "Freehold" with a registered survey will be excised, although it's recommended that if you have a Survey plan on a property, you should go on and register that survey to obtain a "Red Copy". If a land is under government acquisition, you can't obtain a Red Copy on that property, but merely having a Red Copy Survey (Registered Survey) on a property without C of O, Governor's Consent, Gazette or Approved Excision, the land ain't safe from future acquisition yet.
Interesting! Having watched two of your video clips, I can see you are resourceful. I have subscribed to your channel already. Hoping to view more informative videos from your stable
Good day and we appreciate your comment, and also thanks for subscribing.
One thing is sure, you will surely learn a lot
Thank you for this great informative video!
Good morning, glad you find it informative
Good video, what those excision block mean?
Good morning, thanks for your comment.
Excision Block here in Nigeria is the same as an Approved Excision, difference being that Approved Excision is granted to a single community, while Excision Block is granted to multiple communites together.
For example, Igando-Eleko has an Approved Excision, while Otoolu, Igbogun and Folu-Ise have an Excision Block.
However, Approved Excision or Excision Block doesn't always cover all land in a community, so you still need to chart the coordinates to verify if the land you're buying fall within the excised area of an Approved Excision or Excision Block
Bros I respect your info.
What happens if an excised land is not released by government.
Will the real estate refund money or dem go try play wayo?
Good morning and thanks for your comment, kindly note that an excised land is already released by the government, so I guess you mean a land with "excision in process", which has not been released yet.
Sure, the government can decide not to release the land, although most companies selling "excision in process" boasts that if that happens, they will give you another land in another estate, definitely that process won't be seamless.
My advice is that, if you want to buy an "excision in process" land, ensure in the contract of sale, the company include it there boldly, that you are liable for a relocation if the land is not excised.
If you've bought an "excision in process" land already, in few years just sell it, never build on a land with excision in process.
@@meetthepropertyguy3156 thanks. I appreciate the advice
You're welcome
Is true that people who buy estate property in Lekki or Ibeju Lekki can only own such property for only 50 years after which the land or house will revert back to the estate developer?
Good evening, no that's not true, that's merely a rumour, as long as a developer has signed a Deed of Assignment, the property no longer belong to them and they have transferred all rights on the property to you.
Simply ensure the property has registered title i.e C of O, Consent, Gazette or Approved Excision, get the deed of assignment signed, take possession of your land and you're good
How far is it true that once a land has registered survey, it means it would be excised on the long run
Registered Survey is different from Approved Excision, there is no assurance or guarantee that a land under "Freehold" with a registered survey will be excised, although it's recommended that if you have a Survey plan on a property, you should go on and register that survey to obtain a "Red Copy".
If a land is under government acquisition, you can't obtain a Red Copy on that property, but merely having a Red Copy Survey (Registered Survey) on a property without C of O, Governor's Consent, Gazette or Approved Excision, the land ain't safe from future acquisition yet.
@@meetthepropertyguy3156 Thanks, that was helpful.
You're always welcome