In this article, we will explain how to buy properties for your underage children. A parent bought a landed property in the name of his 10 years old child and the child's name is clearly written as the buyer of the property on the land's document.ย What does the law say about buying landed properties for minors?
Do you know that such land document can be challenged by opposition and rendered invalid? You see, ignorance of the law cannot save you from being burnt by the fire of the law.
Here is an excerpt from the Land Use Act:
“๐ฐ๐ ๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐ฎ๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐ ๐๐๐ ๐๐ 21 ๐๐๐๐๐:
๐ท๐๐๐๐๐ ๐๐ ๐๐๐๐-
(๐) ๐๐๐๐๐ ๐ ๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐ ๐๐๐ ๐๐ 21 ๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐, ๐๐๐ ๐ฎ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐;
(๐) ๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐ ๐๐๐ ๐๐ 21 ๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐ ๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐ ๐๐, ๐๐๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐ ๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐, ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐.”
๐๐ซ๐ฃ๐๐๐ก๐๐ง๐๐ข๐ก
This law basically says that you have to be 21 or older to officially hold land rights in Nigeria.
Here's the breakdown:
๐๐๐ฎ๐ฟ๐ฑ๐ถ๐ฎ๐ป ๐ผ๐ฟ ๐ง๐ฟ๐๐๐๐ฒ๐ฒ: If you have an adult looking after your affairs (parent or guardian) or managing property for you (trustee), they can hold the land rights on your behalf until you turn 21.
Inheritance: If someone (maybe your parent) who already has land rights dies and leaves them to you. Even though you're under 21, you inherit those rights automatically. You'll still be responsible for following the rules about using the land, just like an adult.
How to Buy Properties for your Underage Children
- Buy the property in your name and prepare a Will (yes, I know you won't die now) indicating that the property should be given to the child when you're gone.
- After buying the property in your name, when the child turns 21, prepare a Deed of Gift to transfer ownership right of the property to the child
So, when buying landed properties for minors, you need to follow what the law says to avoid losing your money.
You shouldn't learn alone. Share this to your loved ones to save them from making costly mistakes when investing in real estate.ย You can reach out to us when you need genuine land or you want us to assist you with documentation.ย
You can also read our blog post on Different Types of C of O in Nigeria. Download my e-book titled “Real Estate Investing for Beginners”. You can also order here.
If you have further questions or inquiries, you can chat with us on WhatsApp or call 2348100956957.