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Fashola douses tension on title deeds

By Olasunkanmi Akoni & Monsur Olowoopejo
Governor Babatunde Fashola of Lagos State saved what could have turned out to be a squabble between government agents and allotees of government housing schemes over the sincerity of new procedure for registration of title deeds, as he (Governor) assured them of getting their property back at the end of the exercise.

Fashola, however, urged them to ensure due registration and perfection of their title documents of sub-leases within the three months period specified for the exercise. The exercise will commence on  April 15 and end  July 15.

The Governor made the appeal at the second stakeholders’ meeting on documentation/registration of sub-leases at the State Secretariat, Alausa Thursday.

Some of the allotees expressed doubts on the sincerity of the process as they believed it would attract paying large some of money or losing the property to government at the end of the day.

Fashola assured them that it was to make their dead asset come alive for their own interest.

He explained that documentation/registration of sub-leases was introduced to add value to “your dead assets, put them in the prescribed form and transfer them from mere allocation letters to title deeds,” which the Governor said,  has more value than other documents in the possession of the allotees.

Charges

According to Fashola, allotees in the low-income housing estates are expected to pay a sum of N10, 000 without extra charges, N15, 000 for those in the medium-income housing estates and N20, 000 for those in the high income estates.

He said, “it is an instrument to access credit facilities from financial institutions”, adding that the exercise was to properly document and register housing estates on lease to individuals.

According to the Governor, “the stakeholders’ meeting will wake up your dead assets and make them transferable by putting them in a prescribed form. We are here today to give you access to prosperity. This is part of our commitment to alleviate poverty and wealth creation in the state.”

Warns property owners

He, however, warned the property owners “against falling victims of fake officials that might approach them to surrender their original allocation letters. The original letter you have is your property. Do not allow anybody to collect it. You may only display it for any official to see but not to be taken away.”


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