WHAT IS A CERTIFICATE OF OCCUPANCY?

WHAT IS A CERTIFICATE OF OCCUPANCY?

A Certficate of Occupancy (C of O) is a document serving as official proof of land ownership granted by the government. It signifies that the government recognizes an individual or entity as the lawful owner of a particular land.

This recognition entitles the holder to utilize the land for specific purposes such as residential, commercial or agriculture.

The process of obtaining a C of O involves an application to the relevant authority, which then verifies the applicant’s claim to the land. The C of O provides legal protection to the landowner, safeguarding their rights against potential disputes or encroachments.

When buying or selling land, the C of O serves as a crucial document to verify ownership and ensure the legitimacy of the transaction and confidence to lenders and investors and signifies that the land is legally recognized & can be used as collateral or for development purposes.

The C of O contains vital information about the land, including its location, size, boundaries, permitted use and any restrictions.

This information is essential for making informed decisions regarding the purchase, development or use of the land.

A C of O is a cornerstone of land ownership in Nigeria, providing legal recognition and protection to landowners and promoting confidence in land investments & development.

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