In this article, you will get to learn the various advantages associated with knowing the title on a land.
Land is undoubtedly a major factor in the social and economic development of every country, it serves as a social security function to most people because after all else have failed, land still returns to the owners for use. It is perhaps the most important natural resource, in the sense that it affects every aspect of people’s lives.
Proof of title to land is the protection and degree of control which a person has over any given land. Proofing title to a land surfaces when there is need to buttress the ownership claim to a land and title registration is mainly to protect property rights, to facilitate transactions in land, and to enable land to be used as collateral for a loan. A system of land title registration identifies each individual land parcel and provides confirmation by the state that the person named in the register has specified property rights in that parcel.
A uniform, integrated system of land title registration confers many benefits. For the individual, it offers security of tenure, a reduced likelihood of ownership or boundary disputes, simpler and less costly land transactions, greater access to credit, and increased market value. For a government administration, it represents a major component of a land information system, assists land use planning and development, improves the land market, stimulates investment, and creates a basis for land taxation. In the case of a society, it can help to promote the peaceful, orderly and wise utilization of the national land resources. We’ve summarized the benefits of knowing the title on your land below;
BENEFITS OF KNOWING THE TITLE ON A LAND
1. It ensures that you don’t go investing in a land owned by the government
2. It avoids the ugly situation of involving yourself in land under the auspices of fraudulent people
3. It saves you from any problem that may arise in future as a result of investment in a disputed land.
4. It serves as proof of ownership of a land and gives you the needed edge if a problem suddenly surfaces in future
5. It helps you take the next line of action in processing and obtaining relevant documents which secures and gives you ultimate ownership of the land and makes it a no-go area from land thieves.
In actual sense, no one can easily steal or transfer your land when there is title on the land with your name.
Also, it must be noted that road, building or any other infrastructure constructed close to your land ultimately increase the net-worth of that land. Although some land may not possess a title, it doesn’t necessarily mean that such land is suspect.
In some cases, the owner may not have taken the necessary step in ensuring the title is done on the property. In such instance, it is advised that you do your due diligence on that land in order to verify the land’s authenticity and the owner’s claim to the land.
In a situation where the property in question is inherited, you must verify the rightful beneficiary and seek the consent of the head of that family.