Lagos State Issues New Directive to Regularize Property Titles for House Owners

• The issue of property ownership in Lagos is a sensitive one, with several people losing their properties during demolition exercises annually
• To guard against incidences like this, the Lagos State government has extended a lifeline to homeowners
• The new directive tells them how to secure the right legal documentation for their properties

Ruth Okwumbu-Imafidon, a journalist with Legit.ng, has over a decade of experience in business reporting across digital and mainstream media.

The Lagos state government has issued a new directive to allottees of various state-owned housing estates who purchased housing units on or before 2019.

The government urged the concerned allottees to immediately initiate the application process for their Deed of Sub-Lease documents.

This is part of efforts to ensure the regularization of property titles in the state and promote property titling and housing ownership security.

This announcement was made by the permanent secretary of the Ministry of Housing, Abdulhafis Toriola, at the monthly stakeholders’ meeting and public enlightenment forum for residents of state government-owned housing estates in the Ikorodu Division, held at the Ayangburen Jubilee Housing Estate.

Homeowners to secure Deed of Sub-lease document

The Permanent Secretary told the property owners that the Deed of Sub-Lease document is a critical legal instrument issued by the state government to homeowners in government housing estates.

He pointed out that it is their proof of ownership and a key requirement for securing mortgages and collateral during business transactions, according to Leadership News.

He urged the allottees who do not have the said document yet to proceed to the Department of Estate at the Ministry of Housing, Alausa, to complete the process and verify their allocation status.

The Director of the Estate Department, Olukemi Fosudo, who represented the PS, explained further that the Deed of Sub-Lease is distinct from the Letter of Confirmation.

“The Letter of Confirmation is issued to an allottee only after they have consented to the terms and conditions outlined by the State Government in the Letter of Offer, which also confirms the completion of all required payments.”

Lagos State warns property owners against exploitation

Recall that Governor Babajide Sanwo-Olu has warned property owners and real estate agents against exploiting house seekers in Lagos.

The Governor declared that agency fees are capped at 10% by the LASRERA laws, and every other fee attached to rentals is illegal.

This move came in response to complaints from Lagosians that real estate agents and property owners were ripping them off under the guise of several arbitrary charges.

The governor also urged the landlords to embrace monthly and quarterly rent payments to ease living for Lagos residents.

Lagos state demolishes properties after end of notice period

In related news, the Lagos state government commenced the demolition of illegal structures across the state.

Legit.ng reported that the owners had been given a 90-day period to regularise their ownership and comply with the building regulations.

The structures affected in the exercise include structures that do not comply with the building regulations, structures that compromise public safety, and others that failed to secure the required approvals for their properties.

Source: Legit.ng