Saturday 17 March 2018

Differences between Right of Occupancy (R of O) and Certificate of Occupancy (C of O)



👉 Right of occupancy (R OF O) is just an offer while a (C OF O) certificate of occupancy is certified right of your ownership of the said land.

👉 R of O is a weaker title to land and vulnerable while C of O is a superior title and secured.

👉 R of O could revoked without compensation while C of O is compensated for.

so its very important to perfect your land title to C of O after an offer of R of O is given to you. that is why most land buyers are very concern on the title as a C of O always attracts a higher value.
when given an offer of R of O, a premium sum is attached to the offer to be paid for perfection to c of o.
so u can go to the relevant land authority to clarify and get yourself more informed.

No comments:

Post a Comment

IBEJU-LEKKI: FACTS ABOUT IBEJU LEKKI

Ibeju-Lekki is a beautiful town located in the Epe division of Lagos state, Nigeria. The administrative center was formally Akodo and was...