late – 9japroperty http://9japroperty.com.ng All you need to know about properties Wed, 09 Nov 2016 09:06:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Why You Must Own a House Before It’s Too Late http://9japroperty.com.ng/must-house-late/?utm_source=rss&utm_medium=rss&utm_campaign=must-house-late http://9japroperty.com.ng/must-house-late/#respond Wed, 09 Nov 2016 09:06:21 +0000 http://9japroperty.com.ng/?p=5399 If there is an asset you must acquire before you depart this world, that asset is a house, no matter how small it seems. And I’m not talking about a rented apartment. The reasons are not far-fetched. There’s a level of peace that comes with owning a house; a serenity that is unfathomable. Unlike when […]

The post Why You Must Own a House Before It’s Too Late appeared first on 9japroperty.

]]>

If there is an asset you must acquire before you depart this world, that asset is a house, no matter how small it seems. And I’m not talking about a rented apartment. The reasons are not far-fetched.

There’s a level of peace that comes with owning a house; a serenity that is unfathomable. Unlike when people buy fancy cars and other eye-popping asset to show-off their wealth, buying a house is a whole lot more than that. Even if it is the only thing you must achieve before you die, then achieve it!

As Kenny Guinn said; “There is something permanent, and something extremely profound, in owning a home.”

Building or owning your own house should be your topmost priority, goal and aspiration; it should be a dire need. Something you must actualize come rain or shine.

Here are 8 reasons why you must build or own a house;

1. To Prepare for Old Age: Like I said earlier, you must build your house before death comes knocking at your door, even if that is the only property you will own in this life. When you are in your own house, you will spend your old age in peace. I mean, how can you be 70 and you are still having issues with your landlord or you are still thinking of where the money for the next rent will come from. That alone will make you die a slow death. And God help you if you are hypertensive. Now you see why you must own a house before you retire from active service.
2. Rent keeps rising: If you calculate how much you spend on rents yearly, you will realize that a lot of money actually goes into house rents. And if we are honest with ourselves, let’s say you save that money instead, then in a range of 5-15 years, depending on the size of your apartment you too can be a landlord.

Worse still, rent keeps increasing. No landlord will reduce rent even if you are a member of MFM. A typical mini flat in Lagos goes for an average of N300,000 . Imagine how much N300,000 will fetch you in 5  years. Be wise! Build your own house today!
3. Landlords are difficult: If you think your landlord loves you because both of you have a cordial relationship, then he may just love you. But most times, landlord love their tenants for selfish reasons. The question you be asking yourself is; do you pay your rent regularly? If the answer to that question is yes! then you have the main reason why your landlord seems to love you. The mutual understanding you enjoy is strictly because you pay your rent when due.

Which landlord won’t love a loyal tenant. Because you guys are friend doesn’t stop him from increasing your rent when he feels an impulse to, especially when he believes you are capable. Also, the rules and regulations governing occupancy of his property still applies to you even if you are beginning to nurture the feeling that your landlord is that brother or father you never had
4. It is the best legacy for your children: The best legacy you can leave for your children is not cars, jewelries, clothes, or even a fat bank account; a house is the greatest asset your children will remember you for. Whenever I go to my family house and see my father’s resting place, I remember how much he toiled hard to build that house be fore he passed on to the great beyond.

5. To have a permanent house address: A lot of Nigerians change their house addresses like the clothes on their body. Invariably, many of us really do not have a permanent address. How will you even have, when you’ve changed homes like 5 times in 3 years. Are you in dire need of a permanent address? Then you should build your own house

6. The fear of your landlord: Most tenants develop cold feet when it’s getting close to the expiration of their house rents. Some even relocate elsewhere or go stay with a friend when that day draws near just because they do not want a confrontation with their landlord or they don’t want to be humiliated.

As for the landlord its business as usual, after all the house was built with their own sweat not yours. If there is something a tenant fears most when it comes with being in their landlord’s black book, It’s the issue of quit notice. The mere mention of that word alone can cause you sleepless nights.

A friend of mine once told me that, “he suspects are landlady is a witch” just because he saw her chasing him with a cutlass in his dream, yet he was only scared of his landlady’s harassment since his rent expiration was 2 days away and he didn’t even have half of his rental money. You can never be free of this drama if you are not making efforts to build your own house. Your Landlord is just a freaking business man, be wise!

7. To fulfill one of life’s greatest goals: Owning a house is one of life’s greatest goals. If it’s not part of your goal in life, then suffice it to say that you probably don’t have a goal.Getting married, having children, building a house are some of life’s major goals. Almost everybody achieves the first two(by choice or force), but few people achieve the last one. Would you be one of the few or would you just tarry along with the crowd? The choice is yours

8. Problems of Fake Estate Agents: This is a very critical aspect to home ownership. Many have fallen to the whims and caprices of scam artist who parade themselves as estate agents. This is another reason you must build your own house, because if you are still looking for a place to rent, then its is probable you will come across these men who are just out there to swindle you. One of the surest ways to ensure that you are not duped of your hard earned cash is  by building your own house

You can’t have all you want, but you can have the things that really matter to you; owning a house should be one.

The post Why You Must Own a House Before It’s Too Late appeared first on 9japroperty.

]]>
http://9japroperty.com.ng/must-house-late/feed/ 0
Lagos Goes After Late Pa Fashina’s Property Against Court Judgment http://9japroperty.com.ng/lagos-goes-after-late-pa-fashinas-property-against-court-judgment/?utm_source=rss&utm_medium=rss&utm_campaign=lagos-goes-after-late-pa-fashinas-property-against-court-judgment http://9japroperty.com.ng/lagos-goes-after-late-pa-fashinas-property-against-court-judgment/#respond Thu, 20 Aug 2015 09:14:25 +0000 http://9japroperty.com.ng/?p=3463 An administrator of the properties of the late Pa Kayode Fashina, a philanthropist, is concerned that the Lagos State Government is surreptitiously trying to grab their property in Ikoyi, despite ruling by a Federal High Court that Lagos should back off, Bennett Oghifo reports Last week, Governor Akinwumi Ambode inspected the property on Plot 439 […]

The post Lagos Goes After Late Pa Fashina’s Property Against Court Judgment appeared first on 9japroperty.

]]>
An administrator of the properties of the late Pa Kayode Fashina, a philanthropist, is concerned that the Lagos State Government is surreptitiously trying to grab their property in Ikoyi, despite ruling by a Federal High Court that Lagos should back off, Bennett Oghifo reports

Last week, Governor Akinwumi Ambode inspected the property on Plot 439 Karimu Giwa Street, Ikoyi. A couple of days earlier, some officials of the Lagos State Development and Property Corporation (LSDPC) led those of a prominent firm of Estate Surveyors and Valuers to inspect the same property.

The issue…
The late Pa Fashina’s daughter, Mrs. Olubunkola Ajibike Osomo said her father’s travail over his properties began during the Military regime of Head of State, General Murtala Mohammed when the government enacted its ‘one man one house decree, which prohibited ownership of more than a house in Nigeria.

“My father’s houses in Victoria Island, Ikoyi and elsewhere in the country were seized and since after that regime, my father tried to regain his properties from successive governments. Eventually, the Lagos State Government headed by Senator Bola Tinubu restored all of the seized properties in the state except the one on the Lagoon waterfront known as Plot 439 Karimu Giwa Street, Ikoyi.”

Her father, who had always being in possession of the property, then sued the government and he succeeded at the Court because on October 22, 2008 the Federal High Court presided by Honourable Justice D. D. Abutu ruled that the government acted unconstitutionally and should leave the property alone.

The Judgment…
Justice Abutu ruled thus in Suit No. FHC/L/CS/537/05
in the Matter between: Mr. Kayode Fashina and the Governor of Lagos State; Attorney-General of Lagos State; the Lagos State Development and Property Corporation (LSDPC); the Inspector General of Police; and the Attorney-General of the Federation, 1,2,3,4, and 5 Respondents, respectively.

Justice Abutu said in his ruling that “The Applicant seeks in this Motion on Notice dated 2nd of June 2005 brought pursuant to Order 1 Rules 1, 2 and 3 and Order 6 Rule 1(1) of the Fundamental Rights (Enforcement Procedure) Rules 1979, sections 43 and 44 of the 1999 Constitution and the inherent jurisdiction of the Court is for the following reliefs:

A declaration that the purported quit notice served and purportedly executed on the Applicant in respect of his property known as Plot 439 Karimu Giwa St., Ikoyi South West by the 3rd Respondent on the orders of the 1st and

2nd Respondents is null and void and of no effect whatsoever.
“A declaration that the purported claim of the 3rd Respondent to the property of the Applicants situate, being and known as Plot 439, Karimu Giwa St., Ikoyi South West is unconstitutional, null and void an unbridled violation of the Applicant’s fundamental right to own immovable property anywhere in Nigeria as guaranteed by the Constitution of the Federal Republic of Nigeria 1999.

“A declaration that the notice to quit – Exhibit ‘B’ served on the Applicant and its execution thereof on the 27th of May 2005 is illegal, null and void same having not been carried in accordance with the due process of the law.

A declaration that the purported ejection of the Applicant from his property known as Plot 439 Karimu Giwa St., Ikoyi South West without a Court Order, without bailiffs and which exercise was carried out by the personal security agents of the lSt Respondent and Civil Servants of the 3rd Respondent is unconstitutional, illegal, null and void and of no effect whatsoever.

A declaration that the purported seizure and or forfeiture of the Applicant’s property at Plot 439 Karimu Giwa St., Ikoyi, South West, Lagos is a violation of his constitutional rights as guaranteed by the Constitution of the Federal Republic of Nigeria 1999 and short of a civilized standard expected in any democratic society.”

The Court awarded to Pa Fashina “N5 million being damages suffered by the Applicant and his tenants for the mental, emotional and psychological trauma suffered by the Applicants due to the irresponsible, undemocratic and uncivilized acts of the Respondents and their agents.”

Justice Abutu further ruled that “This Court considered the issue in its ruling delivered on 28/3/06 and concluded thus:-“The affidavit evidence in this application shows that the dispute between the Applicant and the Respondents is not a land dispute. This action is within the vertical jurisdiction of this Court. The act of the Respondents which constitutes the Applicant’s cause for the complaint as stated in the ground of the reliefs upon which the reliefs are sought took place on the
27th of May 2005. That date constitutes the date of accrual of cause of action. The present action was instituted on the 3rd of June 2005 was instituted within the period of 12 months prescribed by Order 3 Rule 1 of the Fundamental Rights (Enforcement Procedure) Rules1979″.
“The issue whether or not the action is statute-barred having been raised and considered by this Court earlier on in this case this Court is by the doctrine of issue estoppel estopped from considering the issue in this ruling. In short, with regard to the issue whether or not this action is statute-barred this Court is functus officio.
“The affidavit evidence on both side shows that the premises which is the subject matter of this action has been in occupation by the Applicant from about 1964.”

Foiled development…
In his life time, Pa Fashina tried unsuccessfully to get the Lagos Government to lift their siege on his property to enable him rehabilitate it.
According to Mrs. Osomo, “We want to renovate the buildings on the property but the action by the Lagos State Government has hindered us greatly. We want the government to respect the rule of law. They are causing us grave harm, as responsible citizens of the state and country.”

The post Lagos Goes After Late Pa Fashina’s Property Against Court Judgment appeared first on 9japroperty.

]]>
http://9japroperty.com.ng/lagos-goes-after-late-pa-fashinas-property-against-court-judgment/feed/ 0