Land is a generic term which implies”TERRA FIRMA” (physical land) and other things which is under, on, over and above it.
Quicquid plantatur solo, solo cedit (Latin, “whatever is affixed to the soil belongs to the soil”) is a legal Latin principle related to fixtures which means that something that is or becomes affixed to the land becomes part of the land; therefore, title to the fixture is a part of the land and passes with title to the land. Consequently, whosoever owns that piece of land will also own the things attached.
Another way to look at it is by interpreting the Latin principle as ‘that which is attached to the land becomes a part of the land’; use of the word soil is a more literal translation.
The purpose of the principle is to ensure that a purchaser of land does not acquire title or ownership of something which is not intended to pass with the land. The principle also ensures that correct title does pass to a purchaser in case a previous owner attempts to assert that a fixture was a chattel and therefore belonged to them.
There are more than a hundred ways and types of Real Estate.
People have overtimes, engaged in different types of Real Estate Investment.
In Nigeria, the major types are Lands, Developers building homes for resell purposes.
Then an average Investor building Students Hostels, Apartments, etc(average in this sense means someone just looking for how to multiply his or her money.
Another is buying multiple plots and this sometimes depending on the Estate, are sold at discounted prices plus maybe a few incentives.
Then for the rich Investor, investing in homes, buying a couple of homes at Developers price that is before such Property is being listed and then do some little upgrade; Luxury finishings, etc.
These would most definitely increase the market value of the said Property and that’s a whole lot of gains for you.
There are just simple.
However, it’s important to note that investing in real estate, like any investment, carries risks. Some challenges in the Nigerian real estate market include inadequate infrastructure in certain areas, the need to navigate complex legal processes, and the potential for property disputes. It is essential to conduct thorough research, work with reputable developers or agents, and seek professional advice to mitigate these risks and make informed investment decisions.
