Certificate of Occupancy
28
Aug

Benefits of Processing Certificate Of Occupancy In Respect Of Your Land/Property

Certificate of Occupancy is a title document issued by the Governor of a State here a land/property is located to the owner, confirming the owner’s title to the subject land/property in accordance with the dictates of the Land Use Act of 1978.

Property owners tend to be reluctant in processing the Certificate of  Occupancy in respect of their properties because of certain payments to be made to the government coffers. The payment required to obtain your Certificate of Occupancy is always a paltry sum if compared to the accruing benefits if a Certificate of Occupancy is duly secured by a property owner.

The importance of processing your Certificate of Occupancy Overrides every other consideration. The benefits are overwhelming and are herein listed.

  1. VALUE APPRECIATION: Any property with Certificate of Occupancy will always increase in value than one without Certificate of Occupancy.
  2. MEANS OF COLLATERAL TO SECURE A LOAN: Certificate of Occupancy becomes very useful when the owner is desirous of securing a loan from any bank or other financial institutions. It is a condition precedent that any property to be presented as collateral must have a Certificate of Occupancy before facility is granted.
  3. PROTECTION AGAINST ADVERSE CLAIMANTS: Certificate of Occupancy gives a sense of security to the owner as such lands are not susceptible to encumbrance. Therefore, illegal sale or alienation cannot be sustained.
  4. OWNERSHIP STATUS IS EASILY ESTABLISHED: The owner of a property with Certificate of Occupancy as the title document will always be identified if the requisite search is conducted at the appropriate Land Registry.
  5. COMMENSURATE COMPENSATION IN THE EVENT OF COMPULSORY ACQUISITION: A property owner with Certificate of Occupancy shall be adequately compensated in the event of compulsory acquisition by the government.
  6. TRANSFER OF TITLE IS EASY: Transfer of the Certificate of Occupancy from the owner to an intending purchaser is easy.

You are hereby advised to process your Certificate of Occupancy as soon as you acquire land because the benefits are far greater than the usual reluctance induced by the urge to avoid paying the relevant fees for obtaining a Certificate of Occupancy.

We urge every property owner who is yet to process his or her Certificate of Occupancy to do so.

Consult Pasture Gate Properties for the processing of your Certificate of Occupancy. We also buy, sell, and manage properties within Awka Capital Territory and environs.