CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The Oxford Advanced Learner’s Dictionary (9th Edition) defines Land title as the legal right to own land, and the document which shows that one has such a title. Land title refers to the documentary evidence of the right of ownership on a given plot of land to an individual or group. This documentary evidence is called Certificate of Title. Title to land is often insured by a state or municipal government to identify the owner or owners of real property. Land title comes as a result of land registration. Titles to land are means to formalize land ownership rights. Dixon (2002) described land registered if the title to it (which for convenience can be thought of as a right of ownership) is recorded in a register maintained by the Land Registry at a number of districts in a country. Land Registration or title registration is carried out in order to make claims to land enforceable and contract on land stick (Rosenberg and Birdzell, 1986).

Land registration generally describes systems by which matters concerning ownership, possession or other rights in land can be recorded (usually with a government agency or department) to provide evidence of title, facilitate transaction and to prevent unlawful disposal which vary according to jurisdiction. According to Udechukwu (2006), the basic idea behind title registration is to confer on every owner or purchaser a title guaranteed by the state. It is believed to make conveyance simple, cheap, speedy and reliable by obviating most of the difculties and hazards to which a purchaser of land is exposed under the system of registered conveyance. The law regulating registration of land instrument in Nigeria is the Land Registration Act No. 36 of 1924. This is the parent Act enacted for the whole country, which is adopted and re-enacted in some state under different names. A common feature of land registration in Nigeria is the registration of any instrument executed before or after the commencement of the Act. In order to facilitate registration, the law establishes in every state, land registry under a land registrar charged with the responsibilities of registering instruments affecting land in the state and to keep registered books and les relating to each plot.

The term ‘property’ has several connotations, but in estate management parlance, it is most frequently used with reference to real property. Real property, also referred to as property investment, has a variety of concepts, and includes land and buildings (Kalu, 2001). Therefore, property investment is considered as the parting of capital at present on the development, or purchase of land and/or buildings which provides interest of certain duration either for future income generation/capital appreciation or self occupation.

The conceptualization of the development of buildings or structures anywhere is always preceded by the acquisition of space or site (land). This site so acquired must be ensured to have good title; and one way of assuring good title is an evidence of registration. The registration of land has several effects on property, thus this research sought to x-ray the effect of land titles registration on property investment in Nigeria.

1.2      STATEMENT OF THE PROBLEM

Land registration systems, involve deeds recording, and title registration. A Deed recording is a system of giving publicity to land transactions and helping to prevent concealed dealings. The act of recording a deed gives notice to the public of a claimed interest in land and establishes priority against other possible claimants to the same interest although there is usually no statutory compulsion for parties to a transaction to record their documents although it is prudent for them to do so while it is risky if they do not. It is in-view of this that the researcher intends to investigate the problem and prospect of land registration in Nigeria.

1.3      OBJECTIVE OF THE STUDY

The main objective of the study is to ascertain the impact of land title registration on property values in Ijebu-Ode area of Ogun state. But for the successful completion of the study, the researcher intends to achieve the following sub-objectives;

1. i)             To ascertain the challenges of documentation process in land title registration in Ijebu-Ode area of Ogun state.
2. ii)           To evaluate the relevance of land title registration in Ijebu-Ode area of Ogun state

iii)          To address the problem of land registration in Ijebu-Ode area of Ogun state.

1. iv)         To evaluate the prospect of land registration on infrastructural development.

1.4      RESEARCH HYPOTHESES

To aid the successful completion of the study, the researcher formulated the following research hypotheses.

H0:there are no significant challenges in the documentation process of land title registration in Ijebu-Ode area of Ogun state.

H1:there are significant challenges in the documentation process of land title registration in Ijebu-Ode area of Ogun state.

H02:land title registration does not affect property values in Ijebu-Ode area of Ogun state.

H2:land title registration does affect property values relevance in Ijebu-Ode area of Ogun state.

1.5 SCOPE OF THE STUDY

The scope of the study cover the problems, prospects and effects of land title registration on property values in Ijebu-Ode area of Ogun state.

1.6 SIGNIFICANCE OF THE STUDY

It is believed that at the completion of the study, the findings will be of great importance to the ministry of land and town planning in Ijebu-Ode area of Ogun state, as the study seek to emphasis on the benefit of land title registration in the town planning process, the study also seek to enumerate on the benefit of land registration as it reduces or eliminates the risk of denial of transaction between the party (s) involved.

The study will also be of benefit to researcher who intend to embark on study in similar topic, finally the study will be of great importance to teacher, lecturers, student and the general public as the study will add to the pool of literature already available.

1.7  LIMITATION OF THE STUDY

In the cause of the study, there were some factors which militated against the scope of the study;

FINANCIAL CONSTRAINT: Finance is the key to the success of every research work and the said finance was readily unavailable on my part as at the time I was carrying out this research.

TIME CONSTRAINT:  The time stipulated for the submission of this work was obviously too short and as such was unable to visit and carried out my findings throughout the study area as planned.

AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient on the topic discussed, thereby limiting the study.

 

 

1.8 DEFINITION OF TERMS

Land

Land, sometimes referred to as dry land, is the solid surface of Earth that is not permanently covered by water.[1] The vast majority of human activity throughout history has occurred in land areas that support agriculture, habitat, and various natural resources. Some life forms (including terrestrial plants and terrestrial animals) have developed from predecessor species that lived in bodies of water.Areas where land meets large bodies of water are called coastal zones. The division between land and water is a fundamental concept to humans. The demarcation between land and water can vary by local jurisdiction and other factors. A maritime boundary is one example of a political demarcation. A variety of natural boundaries exist to help clearly define where water meets land. Solid rock landforms are easier to demarcate than marshy or swampy boundaries, where there is no clear point at which the land ends and a body of water has begun. Demarcation can further vary due to tides and weather

Land title registration

Land registration generally describes systems by which matters concerning ownership, possession or other rights in land can be recorded (usually with a government agency or department) to provide evidence of title, facilitate transactions and to prevent unlawful disposal. The information recorded and the protection provided will vary by jurisdiction.