Consideration of Third Parties Rights in the Valuation of Landed Property

Student: Moses Lana Bello (Project, 2025)
Department of Estate Management and Valuation
Federal Polytechnic, Ilaro, Ogun State

Abstract

In the world of real estate, the valuation of landed property plays a crucial role in determining market worth. However, often overlooked in this process are the rights of third parties who may have a stake or interest in the property being valued. This insightful study delved into the importance of considering the rights of third parties during the valuation of landed property. The study adopted primary source of data by administering questionnaires which were served to 45 registered estate surveyor and valuers under the Directory of the Oyo state branch of NIESV. The data collected were analyzed using descriptive analysis by adopting Statistical Package Social Science (SPSS) as a tool. The findings showed that third party rights truly influence valuation of landed property in the study area; also from the study, it was also revealed that lease, lien, easement and zoning and land use regulation were notable third party rights that influences valuation of landed property in the study area. The study recommended that valuers are to require and confirm full disclosure on third party rights associated with the property before carrying out valuation of the landed property, it is crucial to engage valuers who possess not only expertise in property valuation but also a solid understanding of property law and regulations.

Keywords
consideration third parties rights valuation landed property
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