So, the land is a chargeable asset as it becomes subject to capital gains tax where it is sold or disposed of in any other manner as long as there is a change in its value.
Capital Gains Tax (CGT) is imposed by the Capital Gains Tax Act (CGTA) Cap C1 LFN 2004 at a rate of 10% when Companies and individuals in Nigeria make gains from the disposal of capital assets.
In most cases, having your neighbour’s tree trespass into your territory is never all that fun. In this write-up, we shall look at how you can deal with your neighbour’s tree’s nuisance.
A Will is not just for sharing that favorite shirt or giving your land in Eko Atlantic City to loved ones but also to let out those secrets which are probably eating you up, to give instructions, state your fears, express your wishes and any other information you would love your loved ones to know.
“Justice Bode Rhodes-Vivour, who read the lead judgment, held that “no matter the circumstances of the birth of a female child, such a child is entitled to an inheritance from her later father’s estate”
“Trespass to land, called “trespass” simply means the interference with the possession of land without lawful justification”
“Most social arrangements do not amount to contracts because they are not intended to be legally binding”
“The general Law is that the landlord on the expiration of the time rent or expiration of a valid notice to quit, may proceed to court for possession”
Under family land holding in Nigeria, a Family Land can only be validly sold by the Family Head with the consent of the principal members of the family.