The laws regulating real estate in Nigeria are referred generally to as Property Law. The
most superior of all laws regulating Real Estate in Nigeria is the Nigerian 1999 Constitution (as amended). The Constitution is Supreme and binding on all persons, authorities, agencies, and organizations in Nigeria. Furthermore, any other law whose provisions are contrary to the 1999 Constitution, will be declared void. This implies that if any other real estate legislation says what is not in line with the constitution, such section of the legislation will be set aside by the court.
The 1999 Constitution in Chapter 4 provides for fundamental human rights. This refers to different rights every Nigerian is to enjoy irrespective of age, tribe, religion or gender. The right relating to Real Estate is stated in Section 43. This section gives you the right to
acquire and own property anywhere in Nigeria (whether in the North, South, East or West). This section prevents the continuation of the former real estate practice where non-indigenes of a state where discriminated against, and prevented from acquiring land/immovable property outside their state of origin. So, know that as a Nigerian, you can acquire land/immovable property anywhere in Nigeria.
Furthermore, the constitution prevents the government from arbitrarily using its power to compulsorily acquire your property. If the government does so, you can take them to court and recover your property in addition to getting monetary compensation.
If however the government acquires your property on the grounds of public interest, it must promptly pay you compensation. Always remember this.
Commentaires