Excision in process land title is one of the land document titles you will find in real estate listings on this premium retirement planning web site.
The next obvious question is, what does the title "excision in process" mean?
Every land in Nigeria is ultimately owned by the state and federal government respectively.
However, the government makes room for ancestral communities to apply for village excision. That is, for a section of the land in their community to be excised (or released) to them for the purposes of agriculture, building development and for whatever other purpose they deem fit.
Portions of communal (or ancestral) land that have been excised (or released) to the local community by the government are covered by a government gazette. And those types of land are said to have land title documents called "Gazette" or "Excision" in land for sale listings.
Ancestral lands that are yet to be excised by the government (and, hence, are not yet covered by any government gazette), are said to be lands still under government acquisition.
So, technically, land investments with excision in process land title are lands that are still under government acquisition.
The good news is . . . these types of land are within the general acquisitions category.
Does government land acquisitions have different categories?
Lands that are still under government acquisition fall into three categories:
Category #1: Committed Lands
These are lands designated by the government for specific government projects in the future.
Any land investor who buys this type of land anywhere in Lagos Nigeria has essentially wasted his money.
Committed lands are
never released to the public for private use.
Category #2: Agric Land Acquisitions
These are lands within areas the government have designated for agricultural purposes.
These lands can be bought by individuals for agricultural purposes that
include crop farming, animal farming etc
Category #3: General Land Acquisitions
These are lands owned by the government by virtue of the land law that designated the government as owner of all lands in the state.
These lands are not currently designated for any specific government projects.
Therefore, ancestral communities (or real estate development companies who bought large mass of land from these ancestral communities) can apply to the government to issue excision to them for portions of land that fall under general government acquisitions.
When the application is processed and approved by the government, the public is notified of the excision (or release for private use) through a government gazette.
Each application for excision to the government has an excision file number, which can be verified by any prospective land investor who wish to buy land from real estate development companies selling these low cost lands.
The excision in process land title is for lands whose excision is still being processed with the Lagos state government.
Lands under general government acquisitions and whose excision is being processed with the Lagos state government are listed as lands with "excision in process" title.
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There is some level of risk with buying land with excision in process land title.
The risk is that the government may not grant the excision applied for by the real estate development company that bought the ancestral land from the local community.
What happens when the application for excision is not granted by the state government?
The buyers who bought from the real estate companies have to go back to the companies to refund their money.
If the real estate company, who is the seller in this case, refund buyers their investment capital (after several years of waiting for the excision to be approved by the government), the buyers lose any possible capital gains they could have had if the excision application was successful.
So, why do real estate investors invest in land with excision in process land title?
The reason is because land investments with excision in process land title are often low priced land whereas lands with certificate of occupancy and gazette land titles are often higher priced lands.
Lands with excision in process title provide a low cost way for the average employee to invest in vacant plots of land in developing communities and watch the land grow in value year after year for over a decade.
Do you remember the real estate investing strategy recommended by this premium retirement planning guide?
Let's remind you.
This retirement planning guide recommends that . . .
1. Proactive employees should invest in low priced lands in developing communities with potential for high return on investment
2. That they should hold on to those lands for 10 to 20 years before considering converting them to cash in order to have the highest possible returns from their land investments and
3. They should invest in multiple vacant plots of land of this nature so they can massively grow their retirement investments and achieve financial freedom after retirement
The land investment opportunities with excision in process title provides an opportunity for low income earners to invest in land for sale in Lagos.
It also provides an opportunity for well-paid employees to buy multiple plots of land at low price and benefit from the massive growth in land values when the excision gets approved by the state government.
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