After purchasing a land it is not
wise to just abandon it for years without doing anything on it. Even if you
don’t have any money to develop it immediately, there are certain steps you
need to take to secure it or prevent it from been resold. If the land is
located in the heart of the city, then the best option is to do a Certificate
of Occupancy(C of O). This document shows that you are the legal owner of the
property. Additionally, try and make a perimeter fencing on the land. This too
helps to wade off greedy land speculators from developing interest on the land.
It is also right to clear the plot of land from time to time.
This signals ownership presence.
This signals ownership presence.
For some, obtaining a C of O may
be too expensive especially if the plot of land is away from the city. In this
case, considering other option would be better. Here I recommend that you build
a one room self-contain at a far corner of the land. Then rent it out. So since
someone will always stay there, this will keep intruders off the land.
On the
other hand, I have seem some land owners build plenty stores on their land in
attempt to secure it. However, I have seen cases where no one rents the stores
because of the location, that is the area is not well populated to attract any
business. In this case, the land owner ends up spending his money on such
project with little potential for renting it.
Furthermore, some land owners
choose to plant palm tree on their land in attempt to secure it. While the palm
tree is still young, they get someone to continue to farm on the land until the
oil palm have grown big. These are the different ways people secure their land.
THE BOTTOM LINE: if you leave
your land for a long time without any sign of your presence, you expose your
land to risk of been resold.
Drop your comment below
07031384722, 07054107283 for consultation
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